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You're right that the figures cited were not related to the real point- the amount of debt carried from month-to-month on those cards. And I am like you in that I buy almost everything on credit card, due mainly to a free loan and the cool rebates/cash back they give you. But I personally think that it is likely Bill Mann's point is right. I know many people of college level intelligence who are retards when it comes to debt. For example, thinking you are entitled to a brand new car when you graduate when you have no job lined up. Or simply charging everything from washers and dryers, sofas, a phat entertainment system, a car that is more expensive than you can afford...there are many, many people who have terrible spending habits that will not haunt them when the economy is as good as it is. But it will not always be that way.

Anyway, the rule I live by is that if you have to carry an item on your credit card, you can't afford it. Except of course for essential items. Also, I don't think debt is acceptable on cars either. And if you do get a car loan (which usually means you are buying too nice a car), the max amortization should be 4 years on a new one and 3 years on a used. Just my opinions.
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