memes

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dank memes

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buying my pizza in installments (hexbear.net)

submitted 5 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 5 months ago (1 children)

thanks for the explainer. do you think the average person is supposed to understand this? or is the whole idea to confuse people so they get ripped off?

[–] [email protected] 1 points 5 months ago

revolving lines of credit are generally rigged so that the user pays extra for the convenience or the perception of convenience. for every one user that is getting the most out of the deal, there are probably 9+ that are getting screwed.

especially in an economic downturn when more people tend to start carrying balances of unsecured debt at high interest.

it's so easy to slip off of good discipline and end up in crazy debt with these credit lines.