Good, Bad, and Ugly

Reader reaction to Reuters news

Lot of credit cards…

Banks, consumers brace for new US credit card rules

In 2007, Americans were using an estimated 694.4 billion credit cards with Visa, MasterCard, American Express and Discover logos, according to the Card Industry Directory.

Really? That’s about 2,000 credit cards per American. Doesn’t anybody at Reuters read the stories before posting to make sure they even make sense?

Lee O.

We corrected: GBU Editor

REUTERS photo by Sam Mircovich

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Comments

No, that seems about right :) The statistic I heard was an average of 10 per person in the U.S.

 

I do not know of a single credit card that earns you interest on a credit balance. That doesn’t mean there aren’t any. Good luck finding one, but I’m not sure that will count a lot to establishing credit worthiness.

 

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