I guess not enough parents warned their kids about the pitfalls of credit cards if you’re not ready for them.
kylez_bad_caverns on
All time high is useful but vague… like what percentage of Americans are we talking? 5? 10? Upwards of 20?
Stopbeingentitled on
Don’t worry the corporations have a shit ton of money and it will definitely trickle down to regular consumers….. (/s)
XAMdG on
I think 60% already used credit cards for groceries, which is frankly a worse system for most. Has the total amount of consumers who do not pay with cash exceeded that 60? If not, I don’t see anything to be concerned about
NerdyKid1101 on
The numbers are insane. I can’t remember exactly but it’s something like 60% of Americans have ever used buy now pay later and like 40% of all the entire little loans have missed at least one payment. Their business model gives basically 0 room for returns. So they make their insane profits solely on people missing payments and suddenly accruing interest. But when you have 15 different payment dates in a month, one’s quite easy to miss.
3Duder on
When Europeans panic about holding debt: are you worried about a sudden hospital bill or saving for retirement? 😂
moderngamer327 on
Buy now pay later is incredibly insidious and is a recipe for disaster. A lot of people are not financially responsible enough for this not to go horribly wrong
Jack-of-Hearts-7 on
I’m tired.
SockYourself on
We gotta get that Dow over 50,000 again somehow cousin. /s
9 Comments
I guess not enough parents warned their kids about the pitfalls of credit cards if you’re not ready for them.
All time high is useful but vague… like what percentage of Americans are we talking? 5? 10? Upwards of 20?
Don’t worry the corporations have a shit ton of money and it will definitely trickle down to regular consumers….. (/s)
I think 60% already used credit cards for groceries, which is frankly a worse system for most. Has the total amount of consumers who do not pay with cash exceeded that 60? If not, I don’t see anything to be concerned about
The numbers are insane. I can’t remember exactly but it’s something like 60% of Americans have ever used buy now pay later and like 40% of all the entire little loans have missed at least one payment. Their business model gives basically 0 room for returns. So they make their insane profits solely on people missing payments and suddenly accruing interest. But when you have 15 different payment dates in a month, one’s quite easy to miss.
When Europeans panic about holding debt: are you worried about a sudden hospital bill or saving for retirement? 😂
Buy now pay later is incredibly insidious and is a recipe for disaster. A lot of people are not financially responsible enough for this not to go horribly wrong
I’m tired.
We gotta get that Dow over 50,000 again somehow cousin. /s