The_Barnacle wrote on Jan 14
th, 2022 at 12:11pm:
It's interesting that as interest rates have plummeted for all other types of loans, they have stayed the same for credit cards, of between 10% and 20%.
Valkie wrote on Jan 13
th, 2022 at 6:33am:
So,
Whats the norm out there?
Do you people make sure you can cover the credit before you use the card, or have a debt?
As if anyone on this forum is going to admit having a large credit card debt that they can't pay off.
I would suggest that the most likely victims of credit card debt are young people who have just bought a new house
Probably correct there.
I can remember getting my first credit card, just after we were married.
We needed a bed, and we didnt have the cash to buy one.
We heard about these credit card things and i got my very first bank card at the ripe old age of 22.
We bought a cheap whitewood bed and mattress for $300.00 a princely sum when your take home pay was less than $200.00 a week.
Took less than 2 months to pay it off.
I bought some stain and clear coat and painted the bed to make it nice.
Meanwhile we slept on the floor.
42 years later, that bed ( with a nice new mattress) is a spare in one of our visitors rooms.
Recently we purchased another bed and mattress for the other spare room.
Didnt go all out, but wanted a good bed for visitors.
$2,000.00 later we have a nice bed, but not as good as our own.
Our own main mattress cost us over $2500.00, 3 years ago
Now thats a nice mattress.
I've bought 2 expensive mattresses in the past 10 years ....
made holes on both sides of bed for myself & wifes sides & put a big rise in the middle
2 year ago had had enough & went & bought another mattress ...
said I didn't want a memory foam...
was assured this ($3600) one was all individual coils .....
bs ... it has more memory foam than coils & has done exactly the same as the Tempur.