I buy a lot of things with a credit card. Not to specify which one, but it rhymes with “Whisk Lover”.
The annual interest rate on the card is 25%.
Can you imagine that? Even mobsters would be embarrassed.
You might be taking up to this point that I’m upset by this. On the contrary, it’s the biggest favor they could have done for me.
Why? Simple. It makes me clear my balance every month. If I ever have *any* urge to carry a balance over, it’s immediately squashed by the haunting, fiery “25% interest!” that hangs in midair whenever I’m writing the check.
I’m sure bean-counters at the card company fought long and hard to get the interest rate up to where it is.
Wonder when they’ll realize how it might end up *costing* the company money?