Because buying shit is addictive, and credit card companies exploit people with poor impulse control. Most people don’t know how compound interest works either.
I wonder if it would be best to implement some sort of rule where if someone has more than $1000 building up interest on a card they can’t use the card anymore until it’s been paid off in full. Or if that would just funnel people to predatory lenders and loan sharks.
Because buying shit is addictive, and credit card companies exploit people with poor impulse control. Most people don’t know how compound interest works either.
I wonder if it would be best to implement some sort of rule where if someone has more than $1000 building up interest on a card they can’t use the card anymore until it’s been paid off in full. Or if that would just funnel people to predatory lenders and loan sharks.