[kartD]

Credit cards have ridiculous interest rates (like 20%+ min.). It's far better to take out a loan and pay your credit dues since the loan will be at a far better rate (at least half).

Why would any sane person do this (pay min. balance)?

[randomf1fan]

Yes, exactly. That's why I don't get it. I can understand going through a rough patch where you pay the minimum cause you can't afford it, but I cannot understand constantly paying the minimum when you can afford to pay much more

[robalfonso]

Its possible they are perpetually in a "rough patch" Americans do have a mind set of "temporarily embarrassed millionaire" That would lead to this kind of behavior.

[segmondy]

Loans are not given out freely like that, easiest loan you can get is credit card and loans from loan sharks. But a bank loan? You have to explain for what, and have a collateral.

[imgabe]

I guess this depends on your credit, but I was able to take out a personal loan from my bank with a few clicks on their website, no big deal at all.

[fjdlwlv]

I other words, banks know that people can't pay back credit card debt.