3 ms·
As I understand it, the interest rate used to be capped at something like 10%, but when the base interest rate rose above/near that, many people couldn’t get cr
by prewett 3y ago
As I understand it, the interest rate used to be capped at something like 10%, but when the base interest rate rose above/near that, many people couldn’t get credit at all (why offer unsecured credit, which is high-risk to the lender, if you can’t charge the necessary premium over the risk-free rate).