“We find that approximately 82% of outstanding credit card balances are debt, or that they are revolved for a month or more,” they write. The numbers are almost as bad even among those with high credit scores, they report. In other words, over half of credit-card balances are part of debt that is being carried for more than 12 months. Read More...
This is the simplest money rule of all time: Don’t be a debt zombie
“We find that approximately 82% of outstanding credit card balances are debt, or that they are revolved for a month or more,” they write. The numbers are almost as bad even among those with high credit scores, they report. In other words, over half of credit-card balances are part of debt that is being carried for more than 12 months.
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