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2 in 5 U.S. credit card holders have topped out their spending limit, report finds
(www.cbsnews.com)
this post was submitted on 17 Oct 2024
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Youre supposed to not be in debt, even if you're allowed, that's like the general consensus.
So are americans just not understanding credit cards or do they just not care?
I commented once about what a ripoff credit cards are and how they haven't really taken off in other countries because they're basically a scam.
I got verbally attacked by people telling me how great they are because they give you cashback
They genuinely thought the credit card company was giving them free money lmao
Basically the financial wherewithal of Liz fucking Truss
It’s a system designed to prey on vulnerable people. The world would be much better off without these cards.
A lot of people don't understand them. Others don't care, thinking they will deal with the debt later or never.
American basic education in math doesn't really cover financial math much.
But how does it work, then?
You use the money you put in your bank account and that's it.
That is a debit card, not a credit card. We also have debit cards in the US.