Re:Amazon to stop accepting UK Visa credit cards
by mbg721 on Wednesday November 17, 2021 @08:35AM
(#29252747)
The way this works in the US is nuts. I had to get a parent to co-sign the loan for my first car (or else they wouldn't lend me money at any rate), but then I spent a year paying a monthly fee to borrow my own money with a "secured credit card" and instantly I'm good for 40 grand, apparently.
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Re:Amazon to stop accepting UK Visa credit cards
by BenjiWiebe on Thursday November 18, 2021 @01:45PM
(#29268930)
That's not how it works in the US currently. You go through that process to get your first credit card, yes, but you do not get approved for $40k. My first card was $500. My best one now (with excellent credit score) is $5k IIRC.
If you got approved for $40k, there's something else funny going on.
Re:Amazon to stop accepting UK Visa credit cards
by effie on Wednesday November 17, 2021 @10:46PM
(#29261779)
Isn't it completely rational from the lender standpoint? First they make sure you will be profitable for them (involve other people who can be milked), then they offer you money and hope you can't pay back on time.