iopq·il y a 2 ans·discussFor example, payday loans are explicit in saying they will charge you a percentage of your payday for a 14 day loan. But if you do the math, it's about 1000% interest annuallyIt's not a crime either, but it's predatory
iopq·il y a 2 ans·discussfor people with credit over 800 the default rate must be extremely lowotherwise I wouldn't have this credit rating and the bank wouldn't trust me with over $100,000 credit limit combined over all of my credit cardsthe reason I agree to this rate is because I never pay it, I loan from my broker instead where I pay like a few bips over LIBOR
iopq·il y a 2 ans·discussThey are smart enough to make all their grifts "fees" and "interest rates"For example, charging 17% on a credit card bill when the interest rate is 5.25%and that's on excellent credit like mine where I haven't missed a payment in almost 20 years
iopq·il y a 3 ans·discussThey're not going to show you jerking off to the most immersive porn ever in their adBut that's what majority of people would actually buy VR headsets would do
It's not a crime either, but it's predatory