Got gas on your plastic? - WALB.com, Albany News, Weather, Sports

Got gas on your plastic?

September 29, 2005

Lee County-- When you don't have enough money to pay for gas or other things you need, what do you do?

Charge it!

That's what more and more people are doing, and now overdue credit card bills are hitting record highs. Almost five percent, 4.81% of credit card accounts were 30 or more days overdue in the April-to-June period.

That's an all-time high.

Analysts blame high energy and gas prices, combined with low personal savings. Credit Counselors says customers should be wary of higher credit card balances, because in November companies will raise their required minimum payments.

"Some of them too like a two percent minimum payment as well as your interest on top of that payment," said Irma Whitten of the Consumer Credit Counseling Service. "When that occurs, that is going to put people over the limit."

Whitten urges many of her clients to have one credit card and to use it only for emergencies. And, she doesn't consider gas an emergency.

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