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I was shocked to learn what "Credit Card" means in the US. Here (Israel) a Credit Card is always connected to a bank account and at the end of each month the a
by air7 4y ago
I was shocked to learn what "Credit Card" means in the US.
Here (Israel) a Credit Card is always connected to a bank account and at the end of each month the accumulated debt is just recovered from the balance. It's done automatically and you would get a very stern phone call (from your bank) if you balance is not enough.
Of course, the CC companies and banks would be happy to give you a loan with outrageous interest rates, but that takes a phone call, or a form on their website.
From a human fallibility point of view, American CCs are evil.
- Redoubts 4y ago> Of course, the CC companies and banks would be happy to give you a loan with outrageous interest rates, but that takes a phone call I mean it’s exactly the same here, except the loan doesn’t require a phone call. There’s no interest if you pay off your card every month.