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No idea why this is downvoted. Its true - inflation can be good for those who carry large debts.
by spamizbad 5y ago
No idea why this is downvoted. Its true - inflation can be good for those who carry large debts.
- WillPostForFood 5y agoYou better have fixed rates. It isn’t going to help lower income people who are more likely to have credit card debt or variable rate mortgages.
- spamizbad 5y agoMost low income people are already paying near their maximum legal rate on credit cards.
- mywittyname 5y agoFixed rates are the standard for mortgages and car loans. An outcome of the Great Financial Crisis was a move away from ARMs through a rise in rates and in income levels necessary to qualify for them. Plus, banks prefer fixed rates in a declining rate environment (basically the past 10 or so years.). But yeah, credit card debt is never good.