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> You can very easily see if credit card interest of 20% will help or hurt you achieve your goals/lifestyle if you do the math. Is there any scenario where pay
by jpatokal 10y ago
> You can very easily see if credit card interest of 20% will help or hurt you achieve your goals/lifestyle if you do the math.
Is there any scenario where paying 20% interest on credit card debt (or, rather, getting into a scenario that requires that) would help you achieve your financial goals?
- fwn 10y agoDon't know about "financial goals", but goals: If your utility gain from the 20% interest is lower than the utility gain from the instant availability of that money. I can think of various situations where, if there were no better products available, this might end up making sense.
- sokoloff 10y agoShort term bridging of a company (or real estate portfolio). It's not so much the 20% APR that kills you; it's the length of time that you pay it.