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| Topic | Why do people stress that you have to pay off an Amex at the end of each month? |
| ParanoidObsessive 04/23/22 12:05:15 PM #5: | Zangulus posted... No? Do you not understand how most credit cards work? American Express you're, traditionally, supposed to pay off the entire balance each month. They make their money off service charges of the credit card being used. Traditional credit cards make money off interest charges from a revolving debt from month to month... This. It's basically why credit card debt is such an endemic problem in the US - tons of people charge more than they can afford, and then spend years (or decades) essentially paying interest because they can't afford to pay off the principle debt. And this is also why my credit card company hates me, because I never run a debt, and thus never pay interest. --- "Wall of Text'D!" --- oldskoolplayr76 "POwned again." --- blight family ... Copied to Clipboard! |
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