✅ Commenter: Anonymous March 15, 2025 at 4:37 PM
"2:50pm I will
stand by my comment that adults that make free choices on products have
some responsibility to educate themselves, seek and listen to advice,
and then use products as intended."
😎 World famous comedian W.C. Fields agreed with our commenter's opinion on financial responsibility, but expressed it a little more clearly:
W.C. Fields.
"It's morally wrong to allow a sucker to keep his money."
✅ J.D. Power
[J.D. Power is an American data analytics, software, and consumer intelligence company founded in 1968}
TROY, Mich.: 15 Aug. 2024 —Show Me the Money! Cashback and Value Credit Cards Grow in Popularity as Financial Health of Cardholders Declines.
J.D. Power Finds More than Half (54%) of U.S. Credit Card Customers are Financially Unhealthy; 51% Carrying Revolving Debt as Average Interest Rates Increase
The points, miles and perks that have come to define the modern credit card marketing playbook are being replaced by cashback rewards and lower fee cards as cardholder financial health grows increasingly strained. According to the J.D. Power 2024 U.S. Credit Card Satisfaction Study released today, only 46% of cardholders are now classified as financially healthy and 51% carry revolving debt on their cards. Meanwhile, the average recalled interest rate on new purchases has climbed to 15.6%, creating a tenuous environment for cardholders and card issuers
... A "Brave New(/New) World"?
If the same rules are explained to everyone at the same time and in the same manner, then those who follow the rules and win should not subsidize those who don’t play by the rules and lose.
ReplyDelete11:50am At what point does the credit union explain the rules to everyone at the same time?
DeleteWhat if the members do not understand the rules, but trusts that the credit union won't mislead them?