Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B
by cowpig on Friday February 03, 2023 @01:08PM
(#34645296)
I think what would happen is that collateral for credit cards would become commonplace
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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B
by Pfhortune on Friday February 03, 2023 @01:22PM
(#34645524)
Which has a similar effect to the cards not being available. If you're renting an apartment and riding a bus to work, what exactly are you going to put up as collateral? Organs?
Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B
by ejb999 on Friday February 03, 2023 @01:34PM
(#34645762)
If you live in Massachusetts, you might be able to soon:
https://www.technologyreview.com/2023/02/03/1067768/massachu...
Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B
by midasuni on Friday February 03, 2023 @03:10PM
(#34647064)
I was really holding out hope this would be a story about piano playing
Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B
by manigandham on Friday February 03, 2023 @01:26PM
(#34645616)
That’s much worse than interest rates for the vast majority (that don’t have any assets to put up or can’t afford to actually lose them).
Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B
by aynyc on Friday February 03, 2023 @01:25PM
(#34645604)
That's called debit card. Limit is the money in your back account.
Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B
by Marsymars on Friday February 03, 2023 @01:41PM
(#34645880)
It’s not quite the same thing. Secured credit cards exist, primarily for people with bad credit. e.g. https://www.hometrust.ca/credit-cards/secured-visa-card/
Personally, I already keep hefty minimum balances to avoid monthly fees on bank accounts that allow me to waive credit card annual fees. They could use that as credit card collateral.