Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

  • @[email protected]
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    102 years ago

    I use my credit card for every purchase I make and get 1.5% cash back. I pay off my balance every month in full to avoid any interest. That 1.5% can add up pretty quickly and it’s basically free money.

    • snooggums
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      22 years ago

      And everything costs 5-10%% than it would without all the cash back and other rewards programs.

      • ProdigalFrog
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        22 years ago

        It’s free only if you have the ability to gully pay off your card every month, otherwise it is not free due to interest, yes.