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Would you say the same about a house? A car? You might say that buying a house on credit isn't frivolous but a pair of shoes on credit is, but where do you dra
by elvinyung 5y ago
Would you say the same about a house? A car?
You might say that buying a house on credit isn't frivolous but a pair of shoes on credit is, but where do you draw the line in the middle?
(Disclaimer: I work at Square, but I am otherwise completely uninvolved with this acquisition or product area.)
- systemvoltage 5y agoGreat question and made me think. I think the difference may be that people that need to stretch payments for smaller purchases tend to build up credit card debt and fall into 18% APR for years and never get out of it. Car loans and Houses have a very controlled lending market. Even more so with business loans. I think there is big difference between monthly payments for a Go Pro camera and debt financing your new restaurant.