Quote:
Originally Posted by The Batlord
I'd be curious to find out what percentage of credit card company money comes from responsible, financially stable people who don't get caught up in a spiral of debt and how much comes from the people who get screwed.
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10% - responsible
90% - irresponsible
Handing an in debt person free money is like handing a junkie a free hit.
Been there, done that.
Fortunately as you get older, and hopefully clean up your act, the interest rates on CC's come way down. Those college offers are going to be well over 20%. I'm paying about 5% on both of my cards.
It's basically a loan shark scheme. Instead of getting your legs broken if you don't pay on time, your ability to buy a home, rent a place, get a car, etc. gets its ass broken.
Where's Elliot Ness when you need him.