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A comment on Anatomy of a credit card rewards program. Parent comment

Re:Anatomy of a credit card rewards program by NovemberWhiskey on Thursday April 04, 2024 @08:50AM (#39929776)
People who are encumbered by credit card debt are usually people who would still be better off taking the standard deduction these days.
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Re:Anatomy of a credit card rewards program by bombcar on Thursday April 04, 2024 @09:36AM (#39930253)
Exactly. It sounds harsh but those encumbered with usurious credit card debt would be better served by being forbidden from having it at all; but that’s a position strongly fought against on all sides.
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Re:Anatomy of a credit card rewards program by naniwaduni on Friday April 05, 2024 @03:43PM (#39946327)
They would not. One man's "usurious" debt is another's "wtf why do rich people get interest rates under 1% of payday loan offerings" (not in those terms).
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Re:Anatomy of a credit card rewards program by NovemberWhiskey on Saturday April 06, 2024 @03:01PM (#39954575)
... and the answer to that is the charge-off rate on a prime credit card portfolio is currently around 2%, whereas it's 55% for payday loans.
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