https://www.cardrates.com/advice/secured-cards-with-rewards/
https://www.fdic.gov/analysis/household-survey/index.html
I’m not saying we shouldn’t do anything for that 4.5%.
But almost anyone who has a bank account should at least be able to get a secured credit card
Rewards on top are an added bonus.
The argument that you save interest on savings account doesn’t make any sense at all because I count my credit cards towards my emergency buffer. If I maxed out the credit card I would absolutely make sure to keep more money in my savings account.
I get that it’s different for people living paycheck to paycheck. But arguing that credit is a solution for the poor is a slippery slope. We should solve those problems other ways.
is that not an absurdly slippery slope?
what if rather than anyone having to take advantage of anything, things just worked better, and everyone agreed that such things matter?
In lieu of that, how would you envision any society arriving at such an end state?
But we don't, and never will again, for very complicated reasons.
The United States didn’t even “trust” Black folks enough to allow them to drink from the same water fountain, live in the same neighborhood, go to the same school or be part of the financial system as late as the 60s.
The failure in your logic is that different credit cards do have different fees and that some form of consumer protection should apply to debit cards as well
I want banks and stripe and gateways and shopify and visa/mc to weed out bad actors fast.
and if some small shop starts to transact a lot, let them manage their risk, don't require consumer side credit for this.
there's already a ton of data, endless kyc/aml paperwork put on consumers and banks/gateways they should figure it out, and if someone still insists on paying hundreds of thousands on totally-free-bitcoins.top after the bank, the app, the browser, their neighbor warned them then let them. and let them try a chargeback.
