Credit card delinquencies are going up. Are people fed up with the small print in the contracts?

Forget about the universal default, which was horrendous. If you were late on one bill, even if you were perfect with your current credit card company, they would raise your interest rate. Are people crushing themselves with so much debt that they are defaulting at near record rates?

Credit card delinquencies are going up. Are people fed up with the small print in the contracts?

As Bill Clinton said years ago, %26quot;it%26#039;s the economy, stupid.%26quot; It%26#039;s not the small print, it%26#039;s the lack of discipline, and the I want it now mentality that is prevalent in this country. Our parents from the Greatest Generation (I%26#039;m a baby boomer), were right that you should not be buying anything until you have saved up for it.

Credit card delinquencies are going up. Are people fed up with the small print in the contracts?

Most people have no monthly %26quot;budget%26quot;. They have no plan for spending or saving. They just don%26#039;t plan. As a result, they find themselves in debt, without explanation, behind on payments equally without explanation.

Credit card delinquencies are going up. Are people fed up with the small print in the contracts?

I%26#039;d never be surprised if credit card delinquencies are going up or even at a record -- for the simple reason that the population is higher than ever before, and credit cards are relatively new, and the ability to use them EVERYWHERE (like grocery stores) only permeated the culture in the last 15 years ... so yeah there are more people using more credit cards more frequently. So more delinquencies in any case.

But all that said, yes, stupid practices on the part of creditors -- like nailing you with super high interest just when you can least afford it --are coming home to roost.

Credit card delinquencies are going up. Are people fed up with the small print in the contracts?

People are using, money they don%26#039;t have, to buy stuff they don%26#039;t need, to impress people they don%26#039;t like.

It%26#039;s not the small print.

It%26#039;s the fact that they can%26#039;t pay the minimums.

Remember the commercial with the guy who has the perfect life. The country club membership, the huge house, the pretty wife and kids, %26quot;I can barely pay my finance charges%26quot;. When the credit card companies realized they were showing people what happens when they have too much credit, they pulled the commercial.

Now it%26#039;s the commercial for Visa, where the guy who pays cash slows up the line.

Credit card delinquencies are going up. Are people fed up with the small print in the contracts?

I think the bigger problem is the %26quot;only a few days late%26quot; or %26quot;only late one time%26quot; attitude.

I get so tired of folks who don%26#039;t follow the terms of their agreement whining when the credit card company hits them with late fees and default interest rates.

People need to take personal responsibility for their own actions.

Credit card delinquencies are going up. Are people fed up with the small print in the contracts?

It%26#039;s the people who lack the financial responsibility to handle credit who are killing this economy.