return2ozma@lemmy.world to News@lemmy.world · 5 months agoBanks are bracing for consumers to stop paying off their credit cards, delinquency rates hit 12-year highqz.comexternal-linkmessage-square26fedilinkarrow-up1115arrow-down16cross-posted to: [email protected]
arrow-up1109arrow-down1external-linkBanks are bracing for consumers to stop paying off their credit cards, delinquency rates hit 12-year highqz.comreturn2ozma@lemmy.world to News@lemmy.world · 5 months agomessage-square26fedilinkcross-posted to: [email protected]
minus-squarexmunk@sh.itjust.workslinkfedilinkarrow-up9·5 months agoI don’t use them myself but I’d imagine most users aren’t aware of that loophole or are worried about their credit score.
minus-squareTramort@programming.devlinkfedilinkarrow-up15·5 months agoIt can’t affect your credit score, because it’s not a loan. If it was a loan they would be subject to ursery laws. But they don’t want to be. So you can default without penalty besides being hounded.
I don’t use them myself but I’d imagine most users aren’t aware of that loophole or are worried about their credit score.
It can’t affect your credit score, because it’s not a loan.
If it was a loan they would be subject to ursery laws. But they don’t want to be. So you can default without penalty besides being hounded.