Comment on It's important to get a good interest rate
Liz@midwest.social 11 months agoCredit cards come with fraud protection and help you build a credit score, which will get you a lower interest rate on a loan, if you need one. So long as you only spend money you have on hand, and pay off your card every month in full, there’s no down side.
Swedneck@discuss.tchncs.de 10 months ago
is this a universal thing or are you just assuming that the entire world works like the US? Here in sweden i have never heard of anyone actually using a credit card.
Liz@midwest.social 10 months ago
Yeah great point, the US has a very high emphasis on debt, for horrible reasons.
RGB3x3@lemmy.world 10 months ago
The debt industry makes so much god damned money for the companies involved in it, it’s not even funny.
Between student loans and credit cards, US citizens have a collective $1.73 trillion in debt. And let’s just assume 15% interest on average (probably a low-ball to be honest): that’s $173 billion going to these companies in interest payments.
Shit won’t change here because too many people with too much power are making too much money.
Iceblade02@lemmy.world 10 months ago
Hi!
I’m the Swede with a CC, right here :)
Now you’ve heard of someone using one (mwahahaha)
In all fairness, it’s not exactly something people talk about - and for the record, I’ve never ended up paying any interest on the card. It’s just convenient, offering a layer of protection for charges, makes it easier for me to track spendings, and allows me to be earning interest on my paycheck by keeping it in a savings account until I need to balance the CC.