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TAPPED OUT: Credit Card Use Goes Through The Roof

 
- NEO -
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06/07/2022 04:04 PM
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TAPPED OUT: Credit Card Use Goes Through The Roof


alone
- BE FREE -
Mithradates

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06/07/2022 04:18 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
If you are using it to live I feel bad for you.

If you using it to keep up with the Joneses you are a Tard.
Anonymous Coward
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06/07/2022 04:24 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
It's not even summer yet
- NEO -  (OP)

User ID: 78797943
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06/07/2022 04:28 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Delinquent debt by the fall
- BE FREE -
Anonymous Coward
User ID: 83569490
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06/07/2022 04:30 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Which leads me to believe that since most get a tax refund they blew through that as well... fuck me...
KansasisOz

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06/07/2022 04:31 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
There will be no "catching up"
KansasisOz
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06/07/2022 04:37 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Hahahaha.

At least the end of the world is entertaining. cruise
Anonymous Coward
User ID: 83569490
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06/07/2022 04:38 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Holy fuck.... that surge s greater than anything for the past 40 years!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Larphillips

User ID: 83270745
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06/07/2022 04:39 PM

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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Yep….here’s the steps of progression in a time of massive inflation (for the average person).

Most of it is due to denial/normalcy bias.

First, you just bear with it, not changing your spending habits but watching your ‘spare cash’ dwindle weekly and monthly.

Then you back up with credit cards so as to no change your lifestyle and spending.

Then you trim extraneous expenses like streaming services, impulse shopping, restaurants, movies, etc.

Next comes stopping ALL unnecessary activities like travel and pleasure trips.

When there’s nothing left to cut, what SHOULD have been an emergency back-up - credit - is tapped out. Then comes late payments/defaults/foreclosures/etc.

All the while, businesses suffering the combined hit of inflation AND loss of revenue, start closing…sending unemployment skyrocking.

There is a HARD, HARD crash coming…
“A person is smart, people are stupid.”
“Nobody knows until everybody knows”
Anonymous Coward
User ID: 2226485
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06/07/2022 04:39 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
that's why doubled fuel prices have not affected traffic yet

people just putting it on the card thinking they will just
get their credit restored later.
Anonymous Coward
User ID: 83569490
United States
06/07/2022 04:40 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Yep….here’s the steps of progression in a time of massive inflation (for the average person).

Most of it is due to denial/normalcy bias.

First, you just bear with it, not changing your spending habits but watching your ‘spare cash’ dwindle weekly and monthly.

Then you back up with credit cards so as to no change your lifestyle and spending.

Then you trim extraneous expenses like streaming services, impulse shopping, restaurants, movies, etc.

Next comes stopping ALL unnecessary activities like travel and pleasure trips.

When there’s nothing left to cut, what SHOULD have been an emergency back-up - credit - is tapped out. Then comes late payments/defaults/foreclosures/etc.

All the while, businesses suffering the combined hit of inflation AND loss of revenue, start closing…sending unemployment skyrocking.

There is a HARD, HARD crash coming…
 Quoting: Larphillips



Its not inflation in the traditional sense, its credit front running. As you start to trim the feedback loops get vicious... deflationary depression is coming. Cash will be king... credit gets wiped, asset classes plummet.
Anonymous Coward
User ID: 75394950
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06/07/2022 04:40 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
There will be no "catching up"
 Quoting: KansasisOz


Guess this makes me slightly ahead of most of U: Thread: Today I Defaulted on My Last Open High Limit Credit Card
Anonymous Coward
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06/07/2022 04:41 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
that's why doubled fuel prices have not affected traffic yet

people just putting it on the card thinking they will just
get their credit restored later.
 Quoting: Anonymous Coward 2226485


This. When the credit starts running out and people start running out of funds things are going to get A LOT worse.
Anonymous Coward
User ID: 72118504
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06/07/2022 04:43 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
There will be no "catching up"
 Quoting: KansasisOz


waitwhat
Anonymous Coward
User ID: 75394950
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06/07/2022 04:44 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Holy fuck.... that surge s greater than anything for the past 40 years!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 Quoting: Anonymous Coward 83569490


Once you're in default this can help: Thread: Great News. I've Found Out How to Eliminate the Pain of Default on All my Credit Cards & Loans
Anonymous Coward
User ID: 83569490
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06/07/2022 04:45 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Holy fuck.... that surge s greater than anything for the past 40 years!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 Quoting: Anonymous Coward 83569490


Once you're in default this can help: Thread: Great News. I've Found Out How to Eliminate the Pain of Default on All my Credit Cards & Loans
 Quoting: Anonymous Coward 75394950


Until they 1099 it to the IRS who now wants tax on income... lol
Anonymous Coward
User ID: 75394950
United States
06/07/2022 04:47 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Yep….here’s the steps of progression in a time of massive inflation (for the average person).

Most of it is due to denial/normalcy bias.

First, you just bear with it, not changing your spending habits but watching your ‘spare cash’ dwindle weekly and monthly.

Then you back up with credit cards so as to no change your lifestyle and spending.

Then you trim extraneous expenses like streaming services, impulse shopping, restaurants, movies, etc.

Next comes stopping ALL unnecessary activities like travel and pleasure trips.

When there’s nothing left to cut, what SHOULD have been an emergency back-up - credit - is tapped out. Then comes late payments/defaults/foreclosures/etc.

All the while, businesses suffering the combined hit of inflation AND loss of revenue, start closing…sending unemployment skyrocking.

There is a HARD, HARD crash coming…
 Quoting: Larphillips


You are so right! CC limits will be lowered on most all of U stat. Count on it.
Anonymous Coward
User ID: 83569490
United States
06/07/2022 04:48 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Yep….here’s the steps of progression in a time of massive inflation (for the average person).

Most of it is due to denial/normalcy bias.

First, you just bear with it, not changing your spending habits but watching your ‘spare cash’ dwindle weekly and monthly.

Then you back up with credit cards so as to no change your lifestyle and spending.

Then you trim extraneous expenses like streaming services, impulse shopping, restaurants, movies, etc.

Next comes stopping ALL unnecessary activities like travel and pleasure trips.

When there’s nothing left to cut, what SHOULD have been an emergency back-up - credit - is tapped out. Then comes late payments/defaults/foreclosures/etc.

All the while, businesses suffering the combined hit of inflation AND loss of revenue, start closing…sending unemployment skyrocking.

There is a HARD, HARD crash coming…
 Quoting: Larphillips


You are so right! CC limits will be lowered on most all of U stat. Count on it.
 Quoting: Anonymous Coward 75394950


Which sets up the negative feedback loop of paying one card with another and rotating balances out monthly... deflationary depression is coming...
Anonymous Coward
User ID: 81069084
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06/07/2022 04:49 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
They're hoping for another stimie to bail them out again. Ain't going to happen again.
Anonymous Coward
User ID: 83569490
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06/07/2022 04:51 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
They're hoping for another stimie to bail them out again. Ain't going to happen again.
 Quoting: Recreational Troll


Nope. Last time the ROI was something like 7 cents on the dollar... they would literally have to front run credit into the tens of trillions, but the negative feedback loop would destroy the system over night... They cant do a fucking thing at this point....
Dodger007

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06/07/2022 04:53 PM

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Re: TAPPED OUT: Credit Card Use Goes Through The Roof


That’s what’s keeping gas tanks filled when it’s $100:or more per fill up
You can count on America to do the right thing after exhausting every other alternative."
Winston Churchill
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06/07/2022 04:54 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof


That’s what’s keeping gas tanks filled when it’s $100:or more per fill up
 Quoting: Dodger007


Yep! hesright
Anonymous Coward
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06/07/2022 04:54 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Delinquent debt by the fall
 Quoting: - NEO -


And the Blood Sucking Credit Card Companies
(BANKSTERS) will be standing in line in
the District of Criminals with their hands OUT,
for a BAIL-OUT, and the FED will just create
a few more TRILLION BIDEN BUCKS out of thin air,
and the price of gas will go to 20 BUCKS a gallon,
and a Big Mac will be thirty BIDEN BUCKS, and...

When the music stops, the bullets shall fly.
Anonymous Coward
User ID: 83569490
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06/07/2022 04:55 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
I almost shit my pants when I used my truck the other day... close to 100 bucks... back to parking it and taking my fuel efficient south korean car out... lol
Anonymous Coward
User ID: 76538212
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06/07/2022 05:04 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Most consumers are idiots when it comes to using a credit card.

One good rule is never use it to eat out or buy food. Why?

Because long after you pop it out and flush your poop down the toilet, you're going to be paying credit rates on what you flushed.

Use it only for emergencies, never for stupid things or food.
Anonymous Coward
User ID: 75394950
United States
06/07/2022 05:05 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
I almost shit my pants when I used my truck the other day... close to 100 bucks... back to parking it and taking my fuel efficient south korean car out... lol
 Quoting: Anonymous Coward 83569490


For the first time in my life I find myself considering driving under 80mph. My turbo VW gets way better mileage @ 70 than 75+.
Anonymous Coward
User ID: 83569490
United States
06/07/2022 05:05 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Most consumers are idiots when it comes to using a credit card.

One good rule is never use it to eat out or buy food. Why?

Because long after you pop it out and flush your poop down the toilet, you're going to be paying credit rates on what you flushed.

Use it only for emergencies, never for stupid things or food.
 Quoting: Anonymous Coward 76538212


Yep!!!!
Anonymous Coward
User ID: 78963604
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06/07/2022 05:11 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
bump
Abrasive

User ID: 75814920
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06/07/2022 05:23 PM

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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Hiding excess costs on credit cards can work in a pinch for a while but when the credit card company doubles or triples the minimum payment they'll all be fucked.
Peace is a lie, there is only passion.
Through passion, I gain strength.
Through strength, I gain power.
Through power, I gain victory.
Through victory, my chains are broken.
The Force shall free me.

Or something
Anonymous Coward
User ID: 83569490
United States
06/07/2022 05:26 PM
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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Hiding excess costs on credit cards can work in a pinch for a while but when the credit card company doubles or triples the minimum payment they'll all be fucked.
 Quoting: Abrasive


Yep most are variable and not FIXED.
Abrasive

User ID: 75814920
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06/07/2022 05:28 PM

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Re: TAPPED OUT: Credit Card Use Goes Through The Roof
Hiding excess costs on credit cards can work in a pinch for a while but when the credit card company doubles or triples the minimum payment they'll all be fucked.
 Quoting: Abrasive


Yep most are variable and not FIXED.
 Quoting: Anonymous Coward 83569490


Yup, happened to me a few years ago... Or well I did it to myself.

Really sucks paying everything off.
Peace is a lie, there is only passion.
Through passion, I gain strength.
Through strength, I gain power.
Through power, I gain victory.
Through victory, my chains are broken.
The Force shall free me.

Or something





GLP