ParanoidObsessive posted...
This.
It's basically why credit card debt is such an endemic problem in the US - tons of people charge more than they can afford, and then spend years (or decades) essentially paying interest because they can't afford to pay off the principle debt.
And this is also why my credit card company hates me, because I never run a debt, and thus never pay interest.
Probably why my bank wants to raise the limit on my card all the time.
"Hey, don't you want a $10K limit?"
"Why would I want that when I barely use 10% of my current limit every month?"
What, are they thinking if I have more credit limit I am magically going to use my card to buy more then just groceries and comic books?