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Just because you created a way for someone to pay bulk rate in smaller amounts doesn't make the savings magically appear in a bank account. At best, you just i
by Sohcahtoa82 6y ago
Just because you created a way for someone to pay bulk rate in smaller amounts doesn't make the savings magically appear in a bank account.
At best, you just invented credit cards. But poor people often either can't get credit cards, or the interest rates are astronomical, or they require a cash deposit (that they can't afford) to secure them.
- SilasX 6y agoI didn’t invent credit cards. I pointed out that being able to borrow isn’t the limiting factor. It’s well over 100% rate of return for the bulk savings you can get for some of the examples often cited. That’s a tad more than the interest a credit card charges (or what the charity I suggested could charge). The point of my comment was to suggest that you be the lender and get these easy returns, if you’re so confident in the theory. Why did you think it would be relevant whether current credit cards would lend to them?