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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (55032)4/8/1999 9:55:00 AM
From: Joan Osland Graffius  Read Replies (1) of 132070
 
Hi MB, Re: The indebtedness of the American consumer continues to soar.

I wonder how much of this credit card information is adding debt to households and how much is the replacement of using checks. We have been traveling recently and very few places are taking checks any more. Here in Minneapolis checks are still accepted, but it seems like the rest of the country is "check" averse. Most finance institutions have a plan to clear your credit card purchases the same way your checks are cleared. Also, I have noticed during the last few years an increase of credit card use for survival purchases like groceries and I assume these purchases are cleared like checks.

Joan
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