The best thinking about credit cards
The owner of the credit cards is accountable for all balances, which should be paid off in full each month to avoid paying interest and fees. Some consumers in this country, however, only pay the minimum payments each month. A recent index showed that the repayment of outstanding balances on credit cards in December 2008 declined to 16 percent, the lowest since 2004. With the current economic downturn, it is expected that there will be an increase in consumers failing to pay their credit card bills. The economy has left consumers feeling uncertain about their jobs, retirement accounts, real estate investments and financial futures.