4 ms·
> cap lifetime interest payments as an percentage of the original purchase, like 200% adjusted for inflation. Is people paying more than 200% lifetime interest
by zeven7 4y ago
> cap lifetime interest payments as an percentage of the original purchase, like 200% adjusted for inflation.
Is people paying more than 200% lifetime interest on credit card purchases a normal thing?
- giantg2 4y agoI don't know how common it is. I have heard of people making interest only payments for a long time, or taking years to pay off credit card debt. At something like a 20% rate, it's possible to pay back double the original purchase price if it's taking years to pay it off. In general it's probably fairly rare, just like the people who ruin their lives by carrying over a high balance to begin with.