Comments by "Babu" (@Babu-kr3cr) on "5 Reasons People CAN'T PAY THEIR BILLS!" video.

  1. It seems like it is hard to get balance transfer offers on cards that used to offer them. You borrow and rely on the big balance transfer money being available, and then there are no offers. So instead of getting a 0% offer with a fee that makes the effective rate maybe 6%, you wind up stuck with the card at 30% interest when that offer runs out. That interest can eat up tons of your money fast. Then if you apply for a new card, they give you a $2,000 credit limit instead of the $14,000 you need. I think this can throw people off hard. Budgeting helps, but people use cards to fill in the gaps. If you need an auto repair, need to pay movers, whatever, sometimes you get a big bill. Even medical debt gets put on cards because doctors talk you into treatments. It isn't that you are just running to get coffees out all the time. Credit cards are a convenience and a crutch, but when the rules suddenly change, you can be left with big trouble.
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