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Author: eblover Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308478  
Subject: Re: Credit Card Debt up 53% Date: 9/23/2003 8:09 PM
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The low income consumers are trying to just keep pace in providing for their needs, and it seems they're forced to resort to plastic just to make ends meet. Unlike in earlier decades, these folks are using their credit cards for such purchases as groceries despite the fact that the interest rates (some as high as 29%) will make their financial situation even more dire.

Being a cashier at a grocery store for 2 years, I'm a bit jaded reading this. These people that "have" to charge their groceries...I've seen them use food stamps to buy JUNK and SODA and then their $$ goes towards cigarettes and beer.

A girl that I work with "has" to charge her groceries because she is using her $$ to pay the minimums on her big screen TV, her newest computer (she now has three in the home), her Digital Cable AND Satellite bills, her cable internet...

I'm sure there are exceptions to the rules, but the people that I have seen that "HAVE" to use their credit cards for some purchases do NOT have my sympathy.
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