Friday, May 26, 2006

Credit Card problems . . .

This is not about my own credit card problems - rather it's about a front page article in yesterday's Wall Street Journal. Americans are paying more of their credit card debt down, which is reducing the profits of the credit card companies. Go American people!

Typically in a time of rising interest rates, credit card debt will start to creep up. Hasn't happened yet.

Don't worry. We have no need to feel sorry for the credit card companies. They still make money off each transaction we make and annual fees (don't get a card with an annual fee).