Use of major credit cards has led to so many people be declared bankrupt. Not only do normal Americans face the same issues, the interest rate of the cards is so high that even the congress members have felt the heat. His debts emerging in the use of cards can negatively impact on someone’s saving habits. It does not matter someone status.
Sen. Vermont who is a presidential candidate is feeling the harsh huge debts from the use of credit cards. He has more than $25002 reported from his financial reports. As an obligation congress member need to report of the financial habits. They have been a sharp drop in financial status. Just like any the American, one should be at least $5327 in debts by use of credit cards as stated in a report from Transunion industry
A lot revolves around the Sanders saving policy. It’s believed it was selected to military and public service employees. Though he has no bill placed outside congress for many years. Briigs believe some of the policies are harsh and need to be changed for the benefit of the large population of US citizens.
Big debts should never be witnessed by congress members. Just like in 2011 where more than 70 members as reported by opensecrets.org they incurred $10000 debts each from the use of credit cards. Sander a congress member has been on the forefront to propose the legislation in curbing the interest rates factored in the use of credit cards to be around 15%, which currently lies at 20%. Though only 30 members voted for, not all the debts can be attributed to the use of credit cards.