Words of Wisdom from Equifax

Discussion in 'Credit Talk' started by Flyingifr, Aug 4, 2003.

  1. Flyingifr

    Flyingifr Well-Known Member

    This is from my "Credit Watch" e-mail from Equifax:

    "TIP OF THE WEEK
    How can you tell if you have too much credit card debt? A good rule of thumb is to determine if you owe more than three times the amount you pay off in a given month. If so, you probably have too much credit card debt."


    So, there we have it , from the Horse's mouth: If you can't pay off your credit cards in 3 months you are overextended.
     
  2. GEORGE

    GEORGE Well-Known Member

    ...BUT DO I WANT TO PAY OFF 0.00% or 1.90% IN 3 MONTHS???

    NO!!!

    "IF" YOU WANT TO PAY EVERYTHING OFF IN 3 MONTHS...YOU MIGHT AS WELL WRITE A CHECK OR PAY CASH!!!
     
  3. GEORGE

    GEORGE Well-Known Member

    **99% OF ALL CREDIT CARD USERS ARE OVER-EXTENDED THEN...

    **The ones who REVOLVE for one reason or another...

    0.00% FOR 15 MONTHS...WHY NOT???

    1.90% TILL DECEMBER 2003...WHY NOT???
     

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