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I've stopped ignoring stuff like this because it's overly sensational. I don't care about how many people have debt, the fact that 50% of people have it only sp
by charlie0 2y ago
I've stopped ignoring stuff like this because it's overly sensational. I don't care about how many people have debt, the fact that 50% of people have it only speaks to how popular these products are.
What's really important here are the actual delinquency rates. The only mention of this is:
>And the credit card delinquency rate is at its highest point since 2011.
But the article stops short of mentioning what that rate is or how it has grown.
This type of "investigative journaling" completely misses the point there are tons of credit cards with 12/18/21 months of 0% rates. Of course it makes sense one would carry debt if there's no interest to pay on the balances.
- sschueller 2y agoThe only reason 0% intro rate exists is because many people never pay off the balance before the interest kicks in. Also in some cases the entire interest from the start is then due so the 0% means nothing at that point.
- charlie0 2y agoThat may be true, but none of that information is in the article. It's just fear mongering click-bait.