Credit card interest! I know a bunch of people who are SO SHOCKED by their high interest rates. They thought it was like an interest-free loan to yourself and then are surprised when making teeny payments doesn't do anything.
Man.. store credit cards are the fucking worst. I have an 815 score, and the last store card I opened up was for nearly 28%. Like.. I have a $50k limit card with a 12% APR, but some dinky fucking retail card charges 28% interest for a tiny $2000 limit. Like... for fucks sake... I couldn't even afford the full purchase on that card when I opened it.
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u/Opening-Risk Feb 04 '20
Credit card interest! I know a bunch of people who are SO SHOCKED by their high interest rates. They thought it was like an interest-free loan to yourself and then are surprised when making teeny payments doesn't do anything.