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David Barnett and Elchanan Abramowitz

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Credit Cards: the future trap
by David Barnett and Elchanan Abramowitz - September 21, 2002

Did you know that 80 percent of consumers do not understand how the grace period on a credit card works? Considering that 60 percent of Americans carry credit card balances — the average household balance is nearly $8,400 — this ignorance is costing many people serious money.



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