People who are lured by credit cards or other types of credit and get to the point where they have such large outstanding balances that they will never get out of debt fall into

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Perma-debt refers to a situation where someone has accumulated so much debt that they are unable to pay it off and become stuck in a never-ending cycle of debt. This is common with people who misuse credit cards or other forms of credit and can lead to significant financial problems. Transferring balances constantly and credit reporting are not specific to this situation and may not apply to everyone in perma-debt. Credit score is important, but not directly related to the concept of perma-debt.

People Who Are Lured by Credit Cards or Other Types