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Posts
13
Comments
364
Joined
2 yr. ago

  • I think if Steve was still CEO. Apple might have been able to push out a "disruptor". But unfortunately Tim Cook took the reins and the program was essentially dead on arrival. The short EV hype brought it back from the dead but ultimately suffered the same fate.

    Tim Cook is better than most CEOs but he's definitely not a Steve Jobs-type.

  • Payday loans should also not exist yet skirt the federal regulations since most of the payday loans businesses are incorporated in or based in Indian reservations.

    CCCs are really a form of high risk microloan products. As such the “high” APRs are justified. I think federal regulations do put a cap on the APR on loan products, but it’s still high af but not to the point of usury (ie, 100% APR)

  • I justified it as a form of extra security over using a debit card. If fraudulent use of a credit card occurs, then that’s on the issuing bank. If fraudulent use occurs on a debit card, I may be on the hook for a couple of days while the bank sorts it out. For some people, they can easily tank the hit. But if you are living paycheck to paycheck. That loss of money for a couple of days may mean a few days you go without eating.

    Regulations also different between credit and debit cards. This article lightly touches on the primary difference: https://www.nerdwallet.com/article/credit-cards/credit-card-vs-debit-card-safer-online-purchases

  • I do believe financial literacy plays a huge part in it. But at the same time the credit card industry is sort of known to hand out credit cards like candy.

    Some of yall probably are not aware but before the CARD act, the CCC companies would send reps to American campuses. “Sign on bonuses” were given to students who applied for their card. Usually cheap trinkets like a bong or even just straight cash.

    Students without any stable job would get credit limits that would not make sense. This temptation lead to poor spending habits and accumulation of debt. Possibly even filing for bankruptcy later in life or just having bad marks on credit reports due to non-payment and sent to collections (this impacts ability to get other loans).

    It’s stacked against the normal person.

  • On some cards I have well over $50K limits. But really only use 1-2% of these limits. I can’t imagine people trying to carry balances on credit cards.

    Probably when the CC industry busts my limits will probably get reduced :(

  • The shift towards massive vehicles (SUVs) and trucks loaded to the tits with tech junk is to blame. Auto industry sold the idea to Americans that their fat ass needs a compensator instead of psychiatric help.

  • I re-created it a couple months back. Not too much activity lately tho. I used to self post from random home improvement shows. Couple of posts fp’d.

    Couple of people even posted their own.

    I haven’t been active lately but I do keep tabs on it

    !tvtoohigh@lemmy.world