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What do they mean by "borrowing"? Is it actually borrowing money from friends and neighbors or is it using a credit card because it is convenient?
by starik36 10y ago
What do they mean by "borrowing"? Is it actually borrowing money from friends and neighbors or is it using a credit card because it is convenient?
- jwatte 10y agoIt's both -- but not because it's "convenient" but because it's the only possible source. The minimum payment will then multiply the cost over many years.
- starik36 10y agoI hope that distinction was made during the survey. From reading the article, I didn't get that feeling. If I had to pony up $400, I would definitely use a credit card because its what I have on me.