[terry1156]

Credit cards are not bad. People who do not know how to use them properly is a problem, but credit cards are not inherently bad . Again, all your stats are averages which I said before is very misleading.

Again:

---Most Americans owe nothing to credit card companies.

---Most households that carry balances owe $2,000 or less.

---Only about 1 in 20 American households owes $8,000 or more on credit cards.

*****These figures are from the Federal Reserve's 2001 Survey of Consumer Finances, one of the most comprehensive assessments of what Americans own and owe.

Only 5% of the people have large credit card balances. I would even argue that most banruptcies are not caused by poor credit card use...most are caused by medical bills (of which many are put on credit cards, but the underlining problem is not misuse of credit cards)

I would argue the opposite: Overall, credit cards are not bad. On a case by case basis, one could say that credit has been bad for that individual person.