4 ms·

The debt is also distributed unequally. Mostly so that those who have more wealth, have also more debt (though not 1:1 of course).

• dionidium 10y ago
  On unsecured credit cards? I doubt it.
  • morgante 10y ago
    Wealthier people are the ones who have unsecured credit cards. Banks apparently have no problem giving me a limit of $50k without any sort of collateral, but my dad can't get a credit card without depositing his entire limit.
    • dionidium 10y ago
      I was given an unreasonable amount of unsecured credit when I turned 18, by virtue, apparently, of the fact that I was now 18. It certainly wasn't because I had any stable income or assets.
      • morgante 10y ago
        My point was that larger credit limits typically come on unsecured cards, not secured ones. For example, I can get a $20k limit card. It's pretty unlikely that you can get a secured card with a $20k limit.