Credit Card Debt Quotes & Sayings

She says, "Do you have any rubbers?" I say, I thought she was barren. "Sure, I'm sterile," she says, "but I've had unprotected sex with a million guys. I could have some terrible fatal disease." I say that would only be a problem if I wanted to live a lot longer. Fertility says, " That's how I feel about my giant credit card debt." So we have sex. If you could call it that. — Chuck Palahniuk

I'm very interested in the more grass-roots consequences of the economic meltdown: issues related to mortgage foreclosures, debt collection, and the practices of credit card companies and others who hold a lot of consumer debt. — Eric Schneiderman

Nobody had a credit card when I was a kid. No one had credit card debt. But these big companies and banks wanted to know how to get more money out of people - get them charging things. — Michael Moore

Our [western] culture embraces sex addiction. If I drink too much or rack up credit-card debt or lose the rent in Vegas, that's bad. But if I have many lovers, that's good. — Susan Cheever

There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they've run up - to pay their mortgage debt, to pay the credit card debt, to pay student loans. — Michael Hudson

Sharecropping is the dirty little secret at the root of America's wealth - along with slavery itself. The immense profits generated by the industrious yet impoverished Black "sharecroppers" and "tenant farmers" financed Europe's and America's Industrial Revolution, including the building of their railroads, factories, mills, and their entire infrastructure. It is truthfully asserted that the major cities of America and the Western world were "built with bricks of cotton." Today the debt traps designed to ensnare the working poor and middle class in a lifelong cycle of debt - the high-cost installment loans that charge usurious interest rates of 100% or more, the "payday" loans that charge 400% interest, the extortionate credit card multi-charges, the subprime mortgages with ballooning interest rates, and the home equity loan swindles - are the bastard children of the sharecropping American South. It — Reclamation Project

Just looking at her mother made Cami think about how having another mouth to feed in the house would be a huge burden. She was working her butt off at two jobs already as a registered nurse and a waitress. With a mortgage payment, student loan debt, credit card debt, and loads of other bills that she once did not think about twice, her mother was forced to work longer hours after her now ex-husband abandoned his family for another woman. — Valenciya Lyons

Americanesia Expressaphobia, n 1. Financial affliction, first diagnosed in late twentieth century, where the sufferer forgets the amount charged on a credit card but is terribly afraid that it's way too much. Closely related to Visago, n, where a high level of debt prompts feelings of nausea and dizziness. — Gary Belsky

To bring down your credit card balances, write down the benefits of reducing your debt. No more gnawing feeling that you're throwing money away, perhaps. More money flowing to other financial objectives. Then consult the list when you have doubts. — Jean Chatzky

It wasn't until I stood in my truth and told everybody that I had $250,000 in credit card debt. At that point, everything turned around for me. I had to reveal the truth about what I didn't have, more than pretend about what I did. That was interesting. — Suze Orman

We're helping the consumer. Because we're taking him out of his high interest rate credit card debt and putting him into lower interest rate mortgage debt. — Michael Lewis

If you do not have at least an eight-month emergency fund, and you think there's a probability you could loose your job - and it's not just losing your job; you could be in a car accident, get sick - continue to pay the minimum on your credit card every month. Everything beyond that needs to go to establish an emergency fund. And if you have an emergency fund saved, then fund your retirement account before paying down credit card debt. — Suze Orman

But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all. — Suze Orman

If you have credit card debt and credit card companies continue to close down the cards, what are you going to do? What are you going to do if they raise your interest rates to 32 percent? That's five times higher than what your kid is going to pay in interest on a student loan. Get rid of your credit card debt. — Suze Orman

Face the fact that there's only one sure-fire way to erase credit card debt. By picking up a big, shiny pair of scissors and cutting your wife in half. — Bill Maher

Once you get into debt, it's hell to get out. Don't let credit card debt carry over. You can't get ahead paying eighteen percent. — Charlie Munger

You work for the bank. After taxes, your next largest expense is usually your mortgage and credit card debt. — Robert T. Kiyosaki

If you don't have the money management skills yet, using a debit card will ensure you don't overspend and rack up debt on a credit card. — T. Harv Eker

Absolutely pay off your credit card debt, because a child can always get a loan to go to school, possibly a scholarship, a grant. — Suze Orman

What this means is that the entire business model for something like Chase's credit card business is not much more than a gigantic welfare fraud scheme. These companies borrow hundreds of billions of dollars from the Fed at rock-bottom rates, then turn around and lend it out to the world at 5, 10, 15, 20 percent, as credit cards and mortgages, boat loans and aircraft loans, and so on. If you pay it back, great, it's a 500 percent or 1,000 percent or 4,000 percent profit for the bank. If you don't pay it back, the company can put your name in the hopper to be sued. A $5,000 debt on a credit card for the now-defunct Circuit City, which was actually a Chase card, became a $13,000 or $14,000 debt by the time the bank finished applying fees and penalties. Just like a welfare application, you have to read the fine print. "They make more on lawsuits than they make on credit interest," says Linda. — Matt Taibbi

He economy favors throughput over quality and craftsmanship, and economists are terrified because the American savings rate has crept upward from about zero to almost five percent. But the mortgage crisis and the burgeoning credit card crisis are causing Americans to become wary of irresponsible debt. — Denis Hayes

Make this the year you tackle that credit card debt once and for all. — Suze Orman

Bad debt is debt that makes you poorer. I count the mortgage on my home as bad debt, because I'm the one paying on it. Other forms of bad debt are car payments, credit card balances, or other consumer loans. — Robert Kiyosaki

Maybe you'll take the cash out. So a credit card company or a bank that goes into the business of saying we're going to be the broker, we're going to sell you a mortgage that you're going to be able to pay off, we're going to help you reduce your credit card debt, we're going to help you save for retirement, we're going to put you into mutual funds that have low fees rather than high fees. — Richard Thaler

It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy. — Daniel Akaka

Debt is a drag, a reality you may experience with every credit-card bill you open. But for a corporation or a government, it can be even more of a drag - on economic growth and job creation. — Mark McKinnon

The most important loan to pay is your student loan. It's more important than your mortgage, car and credit card payments. You cannot discharge student loan debt in the majority of cases. — Suze Orman

In a speech at the just-concluded G20 summit in London, President Obama urged Americans not to let their fears crimp their spending. It would be unwise, he argued, for Americans to let the fear of job loss, lack of savings, unpaid bills, credit card debt or student loans deter them from making major purchases. According to the president, 'we must spend now as an investment for the future' ... instead of saving for the future, we must spend for the future. — Peter Schiff

Debt is so ingrained into our culture that most Americans cannot even envision a car without a payment, a house without a mortgage, a student without a loan, and credit without a card. We — Dave Ramsey

In January we start saving money, getting out of credit card debt, funding our retirement accounts, and we're doing wonderful. Then, every single year like clockwork, starting in November, all of you fall into this trap that says, 'I have to buy this gift ... I can't show up at this party and not have something for everybody.' — Suze Orman

Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It's a trap for the rest of your life because the laws are designed so that you can't get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy. — Noam Chomsky

That took the view that every misbehavior, every cruelty perpetuated by one kid on another should be let slide in the name of letting kids be kids? (Let them be kids, really let them, and you will end up with a tribe of bulimic eugenicists with huge amounts of credit card debt.) — Karl Taro Greenfeld

If you have a debt issue or credit card issue, start dealing with it. If you have a tax issue, don't just say, 'I'm not going to file.' There are ways to deal with these things, but you must communicate with your creditors, whether it's a credit card company or tax department. — Hill Harper

Income tax rules also made borrowing against a home's equity attractive. Because mortgage interest payments can be deducted for income tax purposes, the interest paid on home equity loans could also be deducted, although interest on credit card debt or other debt was not deductible. Therefore it often paid anyone with any other kind of debt to pay off that debt with a home equity loan, whose interest would be deductible for income tax purposes. More and more people began to do this during the housing boom. In 2003, home equity loans totaled $593 billion. Such loans soared during the housing boom, nearly doubling to $1.13 trillion in 2007. — Thomas Sowell

In short, if you are using a shovel to dig yourself into a hole, a credit card company will be happy to give you a backhoe. — Jason G. Miller

People internalize, from the jail to student loan debt, to credit card debt, to unemployment to the whole collective. It manifests itself in many ways, in people's home lives, domestic stuff. — Jesse Jackson

Congratulations on your job at the bank! Yes. You work for the bank. After taxes, your largest expense is your mortgage and credit-card debt. — Robert Kiyosaki

Absolutely pay off credit card debt. If you're not getting a match in your 401(k) and you've got credit card debt, you've got to get yourself out of credit card debt. When you get out of credit card debt, your credit score goes up and interest starts to go down. — Suze Orman

The minute a Wall Street firm purchases your debt, your bank no longer has it on its financial statement, which then allows the bank to look for more credit card customers. That's one reason why you get so many credit card offers. — Robert Kiyosaki

The church is often called a killjoy for protesting against sexual license. But the real killing of joy comes with the grabbing of pleasure. As with credit card usage. the price tag is hidden at the start, but the physical and emotional debt incurred will take a long time to pay off. — N. T. Wright

If the US Government was a family - they would be making $58,000 a year, spending $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand. — Dave Ramsey

No other facet of American business is more corrupt, more intoxicated with illegality, more weakly regulated, and has a greater impact on poor and working people than debt collectors; not credit card companies or subprime mortgages, not even payday lenders. — Gary Weiss

There's also consumer debt, the credit card debt that burdens many of the working families in America. Yes, we talk about national debt, and we're paying a lot down. But you're fixing to hear me tell you part of the remedy for people who have got a lot of credit card debt is to make sure people get some of their own money back. — George W. Bush

Environmental concern is a little like dieting or paying off credit-card debt - an episodically terrific idea that burns brightly and then seems to fade when we realize there's a reason we need to diet or pay down our debt. The reason is that it's really, really hard, and too many of us in too many spheres of life choose the easy over the hard. — Jon Meacham

Average household credit card debt topped the landmark of $10,000 in 2006, a hundredfold increase over the average consumer debt in the 1960s. One consequence: Much of the material buried in landfills in recent years was bought with those same credit cards, leading to the quintessentially American practice of consumers continuing to pay, sometimes for years, for purchases after they become trash. — Edward Humes

The town slowly wakes up around him with its foreign-made cars and its statistics and credit card debt and all its other crap. — Fredrik Backman

The problem is that the way [President] Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents - number 43 added $4 trillion dollars by his lonesome - so that we now have over $9 trillion dollars of debt that we are going to have to pay back. [That's] $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic. — Barack Obama

Number 198 was wonderful too. Blake had watched a good-looking and ridiculously pretentious guy hit on Livia. The fancy man dropped expensive name after name as he showed her all his accessories. When he finally pulled out his wallet to show her a "highly desirable luxury credit card" Livia had rolled her eyes in Blake's direction with smile number 198. He'd had to swallow a snicker when he heard her tell the fancy man she was debt free and didn't even have credit cards.
Blake knew that was a lie because he'd seen her pay for tickets with a card at the train station. That made number 198 a secret joke between just the two of them. — Debra Anastasia

There's more student debt than credit card debt! Everywhere I go, I run into young people trying to build careers while they keep shelling out money on their education loans. If the economy is looking for a new generation of home-buyers, I can't imagine they'll get it from these folks. — Gail Collins

Typically, students slide into debt through the extension (by credit card companies) of unaffordable credit lines. — Robert Manning

High bankruptcy rates, increased credit card debt, and identity theft make it imperative that all of us take an active role in providing financial and economic education during all stages of one's life. — Ruben Hinojosa

Debt is always negative, no matter how positively you try to look at it. The "minus" sign in front of your bank balance is a dead giveaway, despite what you might think about leveraging or whatever. It's even worse when it's a credit card or a student loan, and you can't even remember what you've bought or learned with it. Sure, the minimum repayments will eventually cancel it out, but by that time you will most likely have dentures and be peeing anywhere you damn well please. — Ana Spoke