RE: Tightening of Credit?
Good message lear. Wife and I learned our lesson years ago. $12k in credit card debt and a mortgage to pay... back when $12 k was a lot more money than it is now. We decided it was time to end the crazyness and pay off the debt. We both became mortgage liscensed... life and homeowner insurance licensed and securities licensed just to learn how money works. Took a few years to pay off the credit card debt but never charged on a credit card since. Mortgage is the only thing we have had since. We pay cash for all our major purchases including cars. Only exception is 12 months same as cash type deals... we will still use them strictly for cash flow purposes knowing that we can pay them off at anytime if we need to. We"re not rich folks... but have learned to leverage the creditless ways in our favor.
The credit card scam is probably he biggest money loser of all for the American consumer. Its a shame more people don"t understand how money and credit cards really work.