Why are credit card rates so high?

Re:Why are credit card rates so high? by tmoertel on Tuesday April 01, 2025 @06:50PM (#43552103)

Or get the best of both worlds: buy now and always pay off your full credit-card bill so you never pay interest and get, in effect, a free short-term loan.

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Re:Why are credit card rates so high? by SL61 on Tuesday April 01, 2025 @06:52PM (#43552119)

I've made thousands of dollars in cashback and rewards from my credit cards without ever paying a cent in interest. That's the main value proposition of credit cards for people who never carry a balance.

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Re:Why are credit card rates so high? by ebb_earl_co on Tuesday April 01, 2025 @06:55PM (#43552141)

I have operated under this model for about 10 years now as well. But there was a recent Atlantic article that gave me pause: those rewards are exactly the results of credit card companies’ usury, extracting money from other people.

It just doesn’t seem ethical to me (for my parameters) any more. :-/

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Re:Why are credit card rates so high? by BenjiWiebe on Tuesday April 01, 2025 @06:53PM (#43552131)

IMO, that's the correct/normal usage of a credit card. It's how my friends (most of them anyways) and family and myself do it.

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Re:Why are credit card rates so high? by omega3 on Tuesday April 01, 2025 @06:52PM (#43552122)

It’s also a popular investment strategy to draw the credit ( potentially from multiple credit cards) and invest it.

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Re:Why are credit card rates so high? by kstrauser on Tuesday April 01, 2025 @06:53PM (#43552133)

Popular among whom?!

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Re:Why are credit card rates so high? by ponector on Tuesday April 01, 2025 @07:00PM (#43552183)

Cryptobros, maybe?

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Re:Why are credit card rates so high? by omega3 on Wednesday April 02, 2025 @04:00PM (#43560883)

Among people who optimise their personal finance and investments?

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