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"people use credit cards because they do not have the extra money" So you think it's better for people to be able to spend money that they don't have and pay u
by canvia 13y ago
"people use credit cards because they do not have the extra money"
So you think it's better for people to be able to spend money that they don't have and pay usurious interest rates and fees, decreasing the utility of their future income and locking them into perpetual debt?
Maybe it would be better if credit were a bit more difficult to access so that people think about it more before utilizing it.
- wdewind 13y agoFalse dichotomy.
- dllthomas 13y agoIf you borrow against money that you're going to have before the next credit card bill is due, you're not paying usurious interest rates and fees. We don't always have the liquidity to pay for what we charge when we charge it but that's not at all the same thing as not being able to afford it (if we didn't have credit cards available, we'd shift our assets to otherwise be more liquid).