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The point is that if they're stretching payments over multiple weeks/months then they can't afford it.
by systemvoltage 5y ago
The point is that if they're stretching payments over multiple weeks/months then they can't afford it.
- elvinyung 5y agoWould you say the same about a house? A car? You might say that buying a house on credit isn't frivolous but a pair of shoes on credit is, but where do you draw the line in the middle? (Disclaimer: I work at Square, but I am otherwise completely uninvolved with this acquisition or product area.)
- systemvoltage 5y agoGreat question and made me think. I think the difference may be that people that need to stretch payments for smaller purchases tend to build up credit card debt and fall into 18% APR for years and never get out of it. Car loans and Houses have a very controlled lending market. Even more so with business loans. I think there is big difference between monthly payments for a Go Pro camera and debt financing your new restaurant.
- chrisseaton 5y agoWhat is your logic behind that?