2 ms·
But is this really fair for those who pay? Selecting out high risks will benefit the majority of people with low or no risk because interest rates will be lower
by baxtr 6y ago
But is this really fair for those who pay? Selecting out high risks will benefit the majority of people with low or no risk because interest rates will be lower.
Side Note: That's the key reason you can't get your Ferrari easily insured with major car insurers... It is not impossible, of course, but it isn't as easy as with usual brands.
- tinus_hn 6y agoThat’s how a credit card works, if you pay in time you don’t pay internet but if you run late you pay a ridiculously high interest. This needs to be limited, otherwise it becomes predatory, people who miss one payment are immediately sucked into an inescapable vortex of ever increasing debt, because they can’t pay the interest so the debt can only grow.