Mobody’s Business – The Finance Edition

According to the National Foundation for Debt Management:

The average household has 10 credit cards.
The average interest rate is 18.9%.
The average credit card balance is $8,000.
The typical “minimum monthly payment” is 90% interest, 10% principal.

Long time since I posted, more on that in a later post.
I got an interesting phone call from BofA on December 8th. I have/had a line of credit with them, and they were looking for me to somehow pay more than the minimum payment each month like I used to.
I was late on a few [...]

*AN: This post is an expansion of several comments I have made regarding the credit industry and my personal experiences with American Express at Consumerist.com
I have an American Express Blue card. It used to have a $25K limit. I was laid off for 9 months and was not late and missed no payments. I missed [...]