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At least here in Brazil, credit card debt has a fame for having the highest interest rates of all possible forms of debt, by a wide margin. If you don't mind s
by emiliobumachar 10y ago
At least here in Brazil, credit card debt has a fame for having the highest interest rates of all possible forms of debt, by a wide margin.
If you don't mind saying, did you ever considered other forms of debt, e.g. applying for a loan at the bank? If yes, what tanked it?
- __derek__ 10y agoSame in the US. While I can't speak for Japan, where credit cards are rare, I'd imagine it's the same. You pay for the convenience of instant credit.
- patio11 10y agoYep! There used to be a product called a "signature loan" in the US which was an unsecured debt without a piece of plastic attached to it, at a rate materially lower than credit cards. These are very difficult to get these days; I was rejected three times, generally on a "You're asking for an amount of money that we'd find difficult to profitably underwrite and your business wouldn't qualify for it anyway; have a nice day; consolation prize we'd LOVE to give you a credit card" basis. This is complicated by my business being international in character, where banks in two countries both think that perhaps a bank in the other would be more appropriate.
- chatmasta 10y agoWhy does your US bank need to know that you are in Japan?