Wednesday, September 12, 2007

Consumer Credit Card Purchases Rise

I just signed up for Technorati, so check out my Technorati Profile . It is a great place to keep track of all your blogs. I will be writing more articles on debt over there so check me out over there.

In the meantime, I was reading an article in the local paper how people keep applying for credit cards and keep using them.

Credit card purchases are on the rise and consumers are using credit cards instead of home equity loans. The Fed reported that consure credit rose at an annual rate of 3.7% in July to $7.5 billion making a total for consumer credit card debt of 2.456 trillion. Now that doesn't even include real estate mortgages.

If anyone has any suggestions how to control this rising debt situation, then please comment.

Mortages are another topic altogether and the subprime woes are affected all of us so we will talk about that later.

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