Many low and middle income families use credit cards to pay for basic needs. Here are scary statistics from a survey conducted at lowcards.com.
41% of indebted families use credit cards to pay for basic living expenses because they don’t have enough money in their checking or savings accounts.
39% of indebted households had at least one member without health insurance in the last three years, compared with 25% of non-indebted households.
37% of households with credit card debt had a family member who was unemployed, compared with 22% of households without credit card debt.
If you need help in managing your credit, check out your local consumer credit counseling service and to see if they can’t help you get your credit under control.
