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FakeNoose

(41,290 posts)

4. Consumer credit is unaffordable now

Reply to gab13by13 (Original post)

Sat Mar 14, 2026, 09:18 AM

Yesterday

I think my credit card is charging 24% interest on an annual basis. Thank goodness I've been able to pay my balance off each month, but not everyone can do that. Things happen unexpectedly, and people need to charge things now and pay for them later. The result is that every American who works for a paycheck (or those of us on monthly Social Security) is forced to delay purchases. Interest charges are the main reason.