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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jon Tara who wrote (15007)	6/8/2004 12:12:35 AM
From: mishedlo	Read Replies (1) \| Respond to of 110194

Jon - Your use of credit cards is identical to mine. If it is chargeable I charge it. Balance is ALWAYS paid off every month. Rest assured you an I are in the minority. something like 75% or more carry a balance month to month. Perhaps Russ has the exact stat. Mish

To: Jon Tara who wrote (15007)	6/8/2004 5:21:29 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 110194

people who have excess funds for investing are a self-selecting minority, in terms of consumer financial situation, so anecdotes from this sector are not very representative. something like 60% of consumers do not pay off their balances, with the vast majority of those either paying just the minimum or less than half the balance owed. also, i would think (but haven't confirmed) that these households would tend to have significantly higher average monthly outstanding balances than those who pay off monthly. for these people, credit cards are an expensive form of financing as opposed to a convenient cash alternative. i would think they would try to minimize usage as opposed to maximize it, since they are being penalized with each additional purchase. by contrast, the figure of "deadbeats" (per your usage) was 39% in Feb of this year, compared to 43% in Feb of last year. nyjobsource.com seems to me that, although more typical consumers probably makes a more "blended" use of their credit cards (using them both for credit extension and for every-day purchases) that there probably has been a trend toward putting more and more everyday expenses on a credit card. you're probably right. i also use my card as much as possible while paying it off. look through these links for more: google.com