3 ms·
well, well, well. Debt given with an APR has a certain rate of default built in (minus cost of money to the bank, expenses, inflation and x% profit). It's very
by onetimemanytime 8y ago
well, well, well. Debt given with an APR has a certain rate of default built in (minus cost of money to the bank, expenses, inflation and x% profit). It's very different from grandma giving you $1000 as a loan.
Scenario: you take a credit card with 11.9% APR. It goes to 14.9% after a year. You miss the payment by a day and it jumps to 23.9% or 29.99%. F them, if you could.