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Comment Re:60% of accounts carry balances month-to-month! (Score 2) 127

The key bit of financial ignorance here is not understanding that credit cards are unsecured loans.

Other forms of credit have lower interest rates because the risk of default is mitigated by the ability to seize and sell an asset used to guarantee.

Being unable to pay your bills on time (or at all) increases how much you pay for all forms of credit.

Comment People make fun of Bulwer-Lytton (Score 1) 14

But they still quote "the pen is mightier than the sword", which in context is a superb description of good government:: "Beneath the rule of men entirely great, the pen is mightier than the sword". He should get credit. Besides, the opening of Paul Clifford was standard Victorian style.

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