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22-28% interest credit cards like Visa and MasterCard are running people's lives. If China can provide these services for less, it's a win not a loss. Good g
by dukeofdoom 5y ago
22-28% interest credit cards like Visa and MasterCard are running people's lives. If China can provide these services for less, it's a win not a loss.
Good guy China freeing Russian people from American style debt Slavery. I had a cousin that financed his bills during a downturn of his business out of desperation. Then ended up with house size payments, had to cut back on employees and nearly worked himself to death working 16 hours days in the following years trying to keep up with that ridiculous interest rate.
- woodruffw 5y agoI'm not aware of any bank card that charges 22-28% interest (or any interest at all) in the US. Did you mean credit card? Visa and MasterCard are payment processors, facilitating debit and credit cards issued by banks. If you're upset at credit card interest rates (and you probably should be), your ire is best directed at the bank and not the processor.
- dukeofdoom 5y agoYes, he financed the extra debt using credit card loans during a downturn. I believe it was more than 100k+ in credit card debt. His other debt was just regular debt at more reasonable rates.