Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B
by ashwagary on Sunday February 05, 2023 @05:43PM
(#34670535)
>there's no hiding the fact that 25% APR with a 72 month term means paying ~100% of the principal again in interest. I honestly don't see how it could be made more clear that this is a terrible financial decision.
According to Michael Saylor, the value of the dollar halves every ~5 years.
It's still not a great financial decision but if that capital is being utilized well, it may not be so terrible for people with no access to lower apr loans.
According to Michael Saylor, the value of the dollar halves every ~5 years.
It's still not a great financial decision but if that capital is being utilized well, it may not be so terrible for people with no access to lower apr loans.