Lower-income earners and older people are more likely to say they've maxed out a card since the Fed starting hiking interest rates.
    • Mr_Blott@feddit.uk
      3·
      1 month ago

      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

      • henfredemars@infosec.pubEnglish
        1·
        28 days ago

        It’s a system designed to prey on vulnerable people. The world would be much better off without these cards.

    • StayDoomed@lemmy.world
      1·
      1 month ago

      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.