Re:Ask HN: How likely are we to see a financial crash this y...
by rich_sasha on Wednesday March 23, 2022 @12:49PM
(#30780475)
In general, you pay enormous interest on unsecured credit.
House? Mortgages have single-digit interest.
Car financing? More complicated, but often free, or even negative (I bought my car for less with financing that it would cost me outright).
Credit card? Tens of %.
I guess a "line of credit" is essentially the same as a credit card. A bank can in principle recover your credit card debt off your house, but it's difficult.
House? Mortgages have single-digit interest.
Car financing? More complicated, but often free, or even negative (I bought my car for less with financing that it would cost me outright).
Credit card? Tens of %.
I guess a "line of credit" is essentially the same as a credit card. A bank can in principle recover your credit card debt off your house, but it's difficult.