Query on Measuring of consumer debt

Carrol Cox cbcox at rs6000.cmp.ilstu.edu
Mon Jun 8 15:44:48 PDT 1998


How do they calculate that part of credit card debt that is paid off at the end of every month? The only time in 30 years of using credit cards that I ever paid any interest was once when the envelope carrying the payment slipped down between the car seat and the passenger door and only showed up about 3 weeks later. Yet there have been times when, for the period between making the charge and the arrival of the bill my balance would have been very high. I presume this practice accounts for some substantial proportion of credit card debt, but is it really debt?

Carrol



More information about the lbo-talk mailing list