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3 points

If you need to borrow money for a renovation, a HELOC is way cheaper than a credit card.

IDK how much we need to protect stupid people from themselves.

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11 points

Quite a lot, actually.

https://www.creditkarma.com/about/commentary/americans-have-a-net-worth-problem-and-its-not-positive

More than half of Americans don’t know how to calculate their net worth (51%)

Nearly one-third of Americans have a net worth of $0 or less (31%)

And thats over a year old, its getting worse.

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4 points

They are practically disabled so hopefully more than we are doing.

Ignorant people need protection too. It’s not like predatory lending is a thing thought in schools.

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4 points

Not everyone has access to the financial education that teaches you how bad this is. I see so many people that don’t actually understand how credit cards work because they “just got one” after signing up for a rewards program (basically, got scammed into signing up).

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1 point

foot-guns are a natural part of the internet and are crucial for its ecosystem.

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