The One Time It's OK to Pile Up Credit-Card Debt
The security of plastic may keep you from taking the wrong job.
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Americans are back to borrowing more with credit cards. According to the most recent Federal Reserve data, they owe $952 billion, the biggest load of revolving consumer debt since 2009.
Part of the story is the same old story: Lots of cardholders still drag around debt, carrying over a balance every month and paying loads of interest. If offered a higher credit limit, many just can’t resist borrowing every extra cent, especially if they're growing more confident about the economy. It's tempting to think we shouldn’t be trusted with credit cards, that everyone should either pay in full every month or cut up the credit cards and use debit cards.