Question

How would you respond to the following statement?

“Credit cards offer the only financial loan whereby the rich pay nothing (even negative when ‘cash back’ and free gifts are considered) by paying off their charges at the end of the month, and the poor pay the highest rates -- essentially subsidizing the free loans of the affluent.”

What does this statement mean, and do you agree with it? If so, how should the credit card system be changed?

Answer 1

welll i think that is is resinible bc if u pay a sertin amount of money so they will pay it forwerd and then u get cash..

Answer 2

sooooooo i do agree srry

Answer 3

what i was trying to ask is what are they talking about? i think they might be talking about late fees but i have no clue tbh.

Answer 4

ohh im so srry i thought u ment sum else im so srry

Answer 5

its okay lmao.

Answer 6

mk im srry

Answer 7

how does this sound for an answer?

Answer 8

I think that the statement is talking about late fees.  And, I do agree. It's true, the people who pay their bills on time don't have to deal with late fees so they are saving money. And the people who don't have the money to pay their bills, or forget about paying their bills, or just don't pay their bills in general end up paying late fees. 

Answer 9

oh that souds like a pro did that and u did really good

Answer 10

great job!!

Answer 11

thanks lol.

Answer 12

your welcome and i love it

Answer 13

Ion know 😁

Answer 14

lol