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People who are encumbered by credit card debt are usually people who would still be better off taking the standard deduction these days.
by NovemberWhiskey 3y ago
People who are encumbered by credit card debt are usually people who would still be better off taking the standard deduction these days.
- bombcar 3y agoExactly. It sounds harsh but those encumbered with usurious credit card debt would be better served by being forbidden from having it at all; but that’s a position strongly fought against on all sides.
- naniwaduni 3y agoThey would not. One man's "usurious" debt is another's "wtf why do rich people get interest rates under 1% of payday loan offerings" (not in those terms).
- NovemberWhiskey 3y ago... and the answer to that is the charge-off rate on a prime credit card portfolio is currently around 2%, whereas it's 55% for payday loans.