<p>Thank you Jonathan! It is really intereting! I have to add this:<br /> Seven out of 10 low- and middle-income households reported using their credit cardsas a safety net relying on credit to pay for car repairs, basic living expenses, medical expenses or house repairs. <br /> One out of three households reported using credit cards to cover basic living expenses on average four out of the last 12 months; households that reported a recent job loss or unemployment, andthose without health insurance in the last three years, were almost twice as likely to use credit cards for basic living expenses. <br /> 20 percent of survey homeowners had paid off some credit card debt with a mortgage refinance in the last three years, reducing their home equity $12,000 on average. Further, these households still had average credit card debt over $14,000. As a result, they were carrying 18% more debt than homeowners who had refinanced a mortgage but not paid down credit card debt--even though their incomes were almost identical. In other words, they were trading unsecured credit card debt for higher mortgage debt secured by their home.<br /> The crushing debt middle-class people are carrying is one reason I believe the economy is quite shaky. Government statistics that show economic "activity" do not reveal how difficult it is for most Americans, who aren't seeing bigger paychecks, to pay the bills, without sinking into deeper debt. <br /> You can find more information about credit card offers <a href="http://www.bestcreditoffers.com"><a href="http://www.bestcreditoffers.com">http://www.bestcreditoffers.com</a></a></p>

Posted by: Helen 13 Dec 2006

<p>If you want to see something really interesting about the Credit industry, watch this Frontline report. </p> <p><a href="http://www.pbs.org/wgbh/pages/frontline/shows/credit/"><a href="http://www.pbs.org/wgbh/pages/frontline/shows/credit/">http://www.pbs.org/wgbh/pages/frontline/shows/credit/</a></a></p>

Posted by: Jonathan  31 Mar 2006