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A comment on U.S. credit card debt jumps 18.5% and hits a record $930.6B. Parent comment

Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by giantg2 on Friday February 03, 2023 @01:43PM (#34645902)
What there really needs to be is a lifetime payback cap. 20% interest would be fine if you had say a maximum payback amount of 2-3x the original amount adjusted for inflation. The companies can still make money, but it prevents a hole with no bottom.
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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by s1artibartfast on Friday February 03, 2023 @01:51PM (#34646037)
The all could still keep growing in this case, just not at a higher rate than inflation once it hits the cap
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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by giantg2 on Friday February 03, 2023 @04:36PM (#34648048)
Yes, but after the cap only the number grows, not the value.
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