I only use cash.
"More using credit to pay for basics" July 22, 2011|By Bloomberg News
US consumers are increasingly using credit cards to pay for basic necessities as income gains fail to keep pace with rising food and fuel prices.
It's a banker's dream world!
Silvio Tavares, senior vice president at First Data, the largest credit card processor who’s based in Atlanta, said, “Consumers, particularly in the lower-income end, are being forced to use their credit cards for everyday spending like gas and food. That’s because there’s been no other positive catalyst, like an increase in wages, to offset higher prices. It’s a cash-flow problem.’’
Not for $ome.
Rising costs of food and gasoline are leaving Americans less money to spend on discretionary items, slowing the pace of the recovery, Tavares said. Household spending accounts for about 70 percent of the world’s largest economy....
Recovery? What recovery?
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