Comment on Everything on credit
deegeese@sopuli.xyz 3 weeks ago
Nobody is buying a wall box on credit, but online retailers figured out if they just enable installment payment everywhere, it provides a small lift to sales at the expense of snarky comments from Lemmy.
bane_killgrind@slrpnk.net 3 weeks ago
Enabling it everywhere facilitates people purchasing things they can’t afford and fucking themselves.
The picture is funny but the real thing is filling up a cart with everything needed for a renovation, failing to pay a payment and having it cost you more than list price with the hidden, past due accounts owe us 30% interest plus fees type of paradigm.
deegeese@sopuli.xyz 3 weeks ago
If you need to borrow money for a renovation, a HELOC is way cheaper than a credit card.
IDK how much we need to protect stupid people from themselves.
sp3tr4l@lemmy.zip 3 weeks ago
Quite a lot, actually.
creditkarma.com/…/americans-have-a-net-worth-prob…
And thats over a year old, its getting worse.
bane_killgrind@slrpnk.net 3 weeks ago
They are practically disabled so hopefully more than we are doing.
Ignorant people need protection too. It’s not like predatory lending is a thing thought in schools.
KeepFlying@lemmy.world 3 weeks ago
Not everyone has access to the financial education that teaches you how bad this is. I see so many people that don’t actually understand how credit cards work because they “just got one” after signing up for a rewards program (basically, got scammed into signing up).
desktop_user@lemmy.blahaj.zone 3 weeks ago
foot-guns are a natural part of the internet and are crucial for its ecosystem.
shalafi@lemmy.world 3 weeks ago
We can’t make laws to block all human stupidity.
lemming741@lemmy.world 3 weeks ago
No, but we can block the predation
Codilingus@sh.itjust.works 3 weeks ago
“There is no such thing as idiot proof, only idiot resistance.”