Many people are morons.
If the CC companies could show them just how much a purchase is going to cost, based on the rate they anticipate paying off the card, maybe it would help more of them make better decisions.
But they shouldn’t really need to....
I saw an adv a few years ago that somewhat did that same thing, they were pushing retirement savings and would show how much you could put into retirement rather than a purchase. For example, if you bought a watch for $1,000 in 30 years when you turn 65 that could have been $4,000. It made an excellent point.
I agree that many people are morons.
Also, The fact that paying the minimum payment on credit card debt could take anywhere from 10 to 30 years to pay off is not news.