The things people do... on credit cards

Met another GFC victim today, paying off $45k Credit card debt, so not as bad as last week's meetings - two people with $150k each on cards!

I just don't understand how people can get that far into debt without doing something about it... or at least their accountant/financial adviser ringing the alarm bells.

This week's interest rate hike only means it will be getting worse... and more to follow next year... you can BANK on that!

Met another credit card devotee earlier this week, and he had signed up for a personal loan, (not with a bank though). He didn't read the fine print, which had interest of 34.95%!!!!!!

That's just daylight robbery!!!