▲ 138 ▼ Everything on credit (slrpnk.net) submitted 2 years ago by bane_killgrind@slrpnk.net to c/aboringdystopia@lemmy.world 18 comments fedilink hide all child comments
[–] deegeese@sopuli.xyz 47 points 2 years ago (1 child) Nobody is buying a wall box on credit, but online retailers figured out if they just enable installment payment everywhere, it provides a small lift to sales at the expense of snarky comments from Lemmy. permalink fedilink source hideshow 2 child comments replies: [–] bane_killgrind@slrpnk.net [S] 10 points 2 years ago (2 children) Enabling it everywhere facilitates people purchasing things they can't afford and fucking themselves. The picture is funny but the real thing is filling up a cart with everything needed for a renovation, failing to pay a payment and having it cost you more than list price with the hidden, past due accounts owe us 30% interest plus fees type of paradigm. permalink fedilink source parent hideshow 4 child comments replies: [–] deegeese@sopuli.xyz 3 points 2 years ago (4 children) If you need to borrow money for a renovation, a HELOC is way cheaper than a credit card. IDK how much we need to protect stupid people from themselves. permalink fedilink source parent hideshow 8 child comments replies: [–] sp3tr4l@lemmy.zip 11 points 2 years ago Quite a lot, actually. https://www.creditkarma.com/about/commentary/americans-have-a-net-worth-problem-and-its-not-positive More than half of Americans don’t know how to calculate their net worth (51%) Nearly one-third of Americans have a net worth of $0 or less (31%) And thats over a year old, its getting worse. permalink fedilink source parent [–] KeepFlying@lemmy.world 4 points 2 years ago Not everyone has access to the financial education that teaches you how bad this is. I see so many people that don't actually understand how credit cards work because they "just got one" after signing up for a rewards program (basically, got scammed into signing up). permalink fedilink source parent [–] bane_killgrind@slrpnk.net [S] 4 points 2 years ago They are practically disabled so hopefully more than we are doing. Ignorant people need protection too. It's not like predatory lending is a thing thought in schools. permalink fedilink source parent [–] desktop_user@lemmy.blahaj.zone 1 point 2 years ago foot-guns are a natural part of the internet and are crucial for its ecosystem. permalink fedilink source parent [–] shalafi@lemmy.world 1 point 2 years ago (2 children) We can't make laws to block all human stupidity. permalink fedilink source parent hideshow 4 child comments replies: [–] lemming741@lemmy.world 8 points 2 years ago No, but we can block the predation permalink fedilink source parent [–] Codilingus@sh.itjust.works 1 point 2 years ago "There is no such thing as idiot proof, only idiot resistance." permalink fedilink source parent
[–] bane_killgrind@slrpnk.net [S] 10 points 2 years ago (2 children) Enabling it everywhere facilitates people purchasing things they can't afford and fucking themselves. The picture is funny but the real thing is filling up a cart with everything needed for a renovation, failing to pay a payment and having it cost you more than list price with the hidden, past due accounts owe us 30% interest plus fees type of paradigm. permalink fedilink source parent hideshow 4 child comments replies: [–] deegeese@sopuli.xyz 3 points 2 years ago (4 children) If you need to borrow money for a renovation, a HELOC is way cheaper than a credit card. IDK how much we need to protect stupid people from themselves. permalink fedilink source parent hideshow 8 child comments replies: [–] sp3tr4l@lemmy.zip 11 points 2 years ago Quite a lot, actually. https://www.creditkarma.com/about/commentary/americans-have-a-net-worth-problem-and-its-not-positive More than half of Americans don’t know how to calculate their net worth (51%) Nearly one-third of Americans have a net worth of $0 or less (31%) And thats over a year old, its getting worse. permalink fedilink source parent [–] KeepFlying@lemmy.world 4 points 2 years ago Not everyone has access to the financial education that teaches you how bad this is. I see so many people that don't actually understand how credit cards work because they "just got one" after signing up for a rewards program (basically, got scammed into signing up). permalink fedilink source parent [–] bane_killgrind@slrpnk.net [S] 4 points 2 years ago They are practically disabled so hopefully more than we are doing. Ignorant people need protection too. It's not like predatory lending is a thing thought in schools. permalink fedilink source parent [–] desktop_user@lemmy.blahaj.zone 1 point 2 years ago foot-guns are a natural part of the internet and are crucial for its ecosystem. permalink fedilink source parent [–] shalafi@lemmy.world 1 point 2 years ago (2 children) We can't make laws to block all human stupidity. permalink fedilink source parent hideshow 4 child comments replies: [–] lemming741@lemmy.world 8 points 2 years ago No, but we can block the predation permalink fedilink source parent [–] Codilingus@sh.itjust.works 1 point 2 years ago "There is no such thing as idiot proof, only idiot resistance." permalink fedilink source parent
[–] deegeese@sopuli.xyz 3 points 2 years ago (4 children) If you need to borrow money for a renovation, a HELOC is way cheaper than a credit card. IDK how much we need to protect stupid people from themselves. permalink fedilink source parent hideshow 8 child comments replies: [–] sp3tr4l@lemmy.zip 11 points 2 years ago Quite a lot, actually. https://www.creditkarma.com/about/commentary/americans-have-a-net-worth-problem-and-its-not-positive More than half of Americans don’t know how to calculate their net worth (51%) Nearly one-third of Americans have a net worth of $0 or less (31%) And thats over a year old, its getting worse. permalink fedilink source parent [–] KeepFlying@lemmy.world 4 points 2 years ago Not everyone has access to the financial education that teaches you how bad this is. I see so many people that don't actually understand how credit cards work because they "just got one" after signing up for a rewards program (basically, got scammed into signing up). permalink fedilink source parent [–] bane_killgrind@slrpnk.net [S] 4 points 2 years ago They are practically disabled so hopefully more than we are doing. Ignorant people need protection too. It's not like predatory lending is a thing thought in schools. permalink fedilink source parent [–] desktop_user@lemmy.blahaj.zone 1 point 2 years ago foot-guns are a natural part of the internet and are crucial for its ecosystem. permalink fedilink source parent
[–] sp3tr4l@lemmy.zip 11 points 2 years ago Quite a lot, actually. https://www.creditkarma.com/about/commentary/americans-have-a-net-worth-problem-and-its-not-positive More than half of Americans don’t know how to calculate their net worth (51%) Nearly one-third of Americans have a net worth of $0 or less (31%) And thats over a year old, its getting worse. permalink fedilink source parent
[–] KeepFlying@lemmy.world 4 points 2 years ago Not everyone has access to the financial education that teaches you how bad this is. I see so many people that don't actually understand how credit cards work because they "just got one" after signing up for a rewards program (basically, got scammed into signing up). permalink fedilink source parent
[–] bane_killgrind@slrpnk.net [S] 4 points 2 years ago They are practically disabled so hopefully more than we are doing. Ignorant people need protection too. It's not like predatory lending is a thing thought in schools. permalink fedilink source parent
[–] desktop_user@lemmy.blahaj.zone 1 point 2 years ago foot-guns are a natural part of the internet and are crucial for its ecosystem. permalink fedilink source parent
[–] shalafi@lemmy.world 1 point 2 years ago (2 children) We can't make laws to block all human stupidity. permalink fedilink source parent hideshow 4 child comments replies: [–] lemming741@lemmy.world 8 points 2 years ago No, but we can block the predation permalink fedilink source parent [–] Codilingus@sh.itjust.works 1 point 2 years ago "There is no such thing as idiot proof, only idiot resistance." permalink fedilink source parent
[–] lemming741@lemmy.world 8 points 2 years ago No, but we can block the predation permalink fedilink source parent
[–] Codilingus@sh.itjust.works 1 point 2 years ago "There is no such thing as idiot proof, only idiot resistance." permalink fedilink source parent
