General Discussion

Captain Zero

(8,954 posts)

47. I do those loans too. They are betting we screw up and then they tack on the interest.

Mon Aug 4, 2025, 10:43 AM

Aug 2025

It must be a good bet for them or they wouldn't offer those loans.
But they lose out to us.

Of course, don't they put ours on the books as a performing loan, and then some weird way they can count it as an asset if they want to.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

67 replies

= new reply since forum marked as read

Highlight:

Average interest paid by Americans on credit card debt is [View all] multigraincracker Aug 2025 OP

I've paid zero interest for 55 years. Gimpyknee Aug 2025 #1

But that shiny new phone is So Fine. speak easy Aug 2025 #2

So are groceries and medical costs obamanut2012 Aug 2025 #6

But ... TikTok! speak easy Aug 2025 #18

+1000 Johnny2X2X Aug 2025 #19

Hard to save up enough to buy a home or a car MichMan Aug 2025 #46

The trick to the car is to get ahead of the game. Happy Hoosier Aug 2025 #58

Ditto if I can't pay for it at the end of the month I won't charge on a credit card. kimbutgar Aug 2025 #51

Nope Torchlight Aug 2025 #65

I have racked up some credit card debt. Morbius Aug 2025 #3

Hey, this is a good reason to 'borrow', you're fixing your livelihood. There are some valid reasons to borrow. SWBTATTReg Aug 2025 #56

Why don't people learn?? lastlib Aug 2025 #4

What if I can't? Morbius Aug 2025 #7

Transfer the debt NJCher Aug 2025 #30

Transfer to a credit union, better deal and rates. Don't underestimate the power and leverage Hotler Aug 2025 #42

The hard (but so often true) answer... FBaggins Aug 2025 #63

Sometimes you don't have a choice. Grokenstein Aug 2025 #10

I do that whenever I can. GoCubsGo Aug 2025 #27

I'm a banker. It's not that people do not want EllieBC Aug 2025 #60

Ditto. Every account is paid down to ZERO every month. Oopsie Daisy Aug 2025 #5

We're at that point for the 99.9% of our credit card use... SickOfTheOnePct Aug 2025 #14

Our new windows had an "interest free financing" offer which we accepted... Oopsie Daisy Aug 2025 #24

Exactly! SickOfTheOnePct Aug 2025 #39

What we found to be annoying (deceptive) was that the offer was "interest free for 12 months" HOWEVER* Oopsie Daisy Aug 2025 #44

I do those loans too. They are betting we screw up and then they tack on the interest. Captain Zero Aug 2025 #47

You, like me, are what the banks call a "deadbeat." lastlib Aug 2025 #49

I use to carry cash to pay for stuff. multigraincracker Aug 2025 #8

I am actually taking the naxt step. Norbert Aug 2025 #9

There is a great deal of judgment and sanctimony when it comes to credit cards. niyad Aug 2025 #11

I agree. No issue is black and white. multigraincracker Aug 2025 #12

That's always been the case. though. Morbius Aug 2025 #13

Any debt carrying interest over from month to month is what you pay off first, if you can. CTyankee Aug 2025 #16

If you regularly shop on Amazon, a Chase Amazon credit card can be very worthwhile. sir pball Aug 2025 #67

The voice of reason as usual, niyad! Diamond_Dog Aug 2025 #28

For sure! SheltieLover Aug 2025 #32

Thank you so much. niyad Aug 2025 #37

A very thoughtful, inclusive perspective. SheltieLover Aug 2025 #31

Absolutely, SheltieLover! Diamond_Dog Aug 2025 #35

Thx, DD SheltieLover Aug 2025 #36

Sadly true. niyad Aug 2025 #38

+1 obnoxiousdrunk Aug 2025 #41

+1 leftstreet Aug 2025 #45

There are a lot of Boomer GOP bootstrap EllieBC Aug 2025 #61

Usury is evil and needs to be stopped. Sharma Dreihund Aug 2025 #15

Agreed. Rates of 20% and over are ridiculous, and are proof that a cartel runs the credit system. TheRickles Aug 2025 #17

It used to be that way in the US also mdbl Aug 2025 #22

I remember when 7 1/2% was the law. multigraincracker Aug 2025 #25

Or the days when credit cards could only charge about 3% above prime mdbl Aug 2025 #66

I pay my CCs off every month Pototan Aug 2025 #20

Had credit cards for forty years. The only time I paid interest was a 1% deal years ago. twodogsbarking Aug 2025 #21

In 1982 I got divorced. Talking with my dad on the phone, multigraincracker Aug 2025 #23

We quit using credit cards 35 years ago after having to go to CCC when my husband lost his job. lark Aug 2025 #26

When companies started going to paperless billing I missed a few payments & got dinged with fees, CrispyQ Aug 2025 #29

I like to use their money and pay it off on the last day w/o interest. Historic NY Aug 2025 #33

We only have cards with no annual fees usedtobedemgurl Aug 2025 #34

I make it a point to pay off mine in full every month NickB79 Aug 2025 #40

Thank you for acknowledging your good fortune. I wish others could be niyad Aug 2025 #43

Last month I took my family to Denny's for dinner NickB79 Aug 2025 #57

That's Usury. It's unfair and should be illegal. MineralMan Aug 2025 #48

And that's the average Johnny2X2X Aug 2025 #52

Once upon a time I paid medical bills with a credit card. hunter Aug 2025 #50

Some people just don't get it. phylny Aug 2025 #53

Ooops! OC375 Aug 2025 #54

I'll never forget orientation for college Johnny2X2X Aug 2025 #55

Sounds like my early life. Happy Hoosier Aug 2025 #59

I pay attention to this issue a lot these last several years Johnny2X2X Aug 2025 #64

I charge every possible thing to my CC so I get miles. I pay it off every month. I also have a large amount of Raftergirl Aug 2025 #62