Posted on 04/29/2023 9:02:26 PM PDT by entropy12
As inflation continues to squeeze Americans, some are turning to buy now, pay later (BNPL) options to scrape by.
A new LendingTree survey shows about 46% of consumers used BNPL this year. That’s up from 43% a year ago and 31% in 2021.
While many consumer goods retailers, both online and brick and mortar, are providing these services to generate revenue, it’s a "bad outcome" for consumers’ balance sheet, O’Leary Ventures Chairman Kevin O’Leary warned.
"This is not new. This is late-cycle consumer activity and debt starts to flare up, and of course, if you extend it on credit cards, it's a 21 to 27% interest. Not a good sign. It's a sign of slowing, no question," he said on FOX Business' "Mornings with Maria" Tuesday.
(Excerpt) Read more at foxbusiness.com ...
Gonna be real fun when they max out their credit cards, and can’t even cover the interest. Then get on welfare, and max out their EBT cards, and the government can’t cover even the interest on those payments, and then they have to ‘print more fiat’, which will lead to even more inflation
Thank goodness the 0’Bidencoin Central Bank Digital Currency will save the economy and all of us from poverty (/s)
I was at Walmart yesterday in checkout line, and the lady ahead of me had cart full of groceries and her total was more than $140. She tried to use her EBT card, but there were not sufficient funds in the account to cover the purchase. She had to use her credit card.
Hahaha the digital currency keeps me awake at night. It will mean there will not be any money in the mattress. The government can use any excuse to raid your account. Such as not driving an electric car, having too much income or assets, owning a gun longer than 4”, or calling someone Brandon. The money will disappear electronically.
And, they may put a deadline on how long you can “hold” your digital money. It can expire.
The plan is to turn middle America into serfs.
Ummm bet used the ebt with what was on it and the credit card for the rest.
I use mine buy what is covered under food stamps and pay cash/debit for what is not
haha, look at the positive side of money expiring...no need for death tax!
Yes, that probably was what she did..All I saw was she was not happy having to use her credit card. The checker woman told her do not worry, 1st of May is very near.
I had the same experience a few years ago at my Walmart Market. The thing that really pissed me off was the gal was absolutely adorable, blonde tiny thing, in her 20s, looked like she had just come from the country club after a game of tennis. She had a baby and a full cart and was paying for it with a EBT card. Didn’t have enough on that cord so she had to use another.
I have many bills that automatically charge my credit card which is paid off completely every month. I earn points as well so I can redeem for cash. I don’t shop much at the grocery store in person - I shop online so, yes, this food is charged on my credit card but, again, it is paid off in full monthly. The only card I make payments on is my CareCredit card that is interest free if the purchase is paid off by a certain date. I use it for the vet or dental appointments if over 200.00. I then have 18 months to pay the 200.00+ off interest free. I owe nothing - everything is paid off except monthly bills.
All true.
More reasons I don’t want to live a long time in this Hell on earth we’re descending into by the day.
Yep. I hope I die before Cash is eliminated.
If a country eliminates cash, I bet it would quickly have problems, which will make cash return.
We buy everything on “buy now pay later” by using our credit cards. We get to pay up to a month later depending on where we are in the charge cycle.
But we pay every credit card bill off and never use the 25% to 35% usurious credit.
Is at least half the lunch and cigarette break discussion.
That only makes it worse - like the federal deficit
Yep.
I hope I die fighting off socialists or unaffiliated criminals. Not before I cross off a whole bunch though.
Where did that come from....?....just askin for a FRiend.
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