Last year, though, banks had to write off an average of 6 percent per quarter on outstanding credit-card balances, according to the Fed.
Analysts said Federated's average credit-card balances increased slightly during the quarter, sending interest income up.
Technological evolution, as everyone knows, is rapid and unpredictable and can result in high credit-card balances.
Apparently no one expects the Year 2000 bug to wipe out their credit-card balances.
So Mr. Miller, who recently received a large tax refund, paid down his credit-card balance to about $15,000.
What's bad for the bedroom might be good for the credit-card balance.
Last year, Connecticut passed a law requiring a cap of 15 percent on the interest charged on credit-card balances.
And their credit-card balance is about $2,000.
Almost two years after the crash, Americans are still paying off credit-card balances and home-equity lines.
Do we have an ethical obligation to pay any outstanding bills like credit-card balances or medical expenses not covered by insurance?
