this post was submitted on 17 Nov 2025
25 points (100.0% liked)
United States | News & Politics
3484 readers
18 users here now
Welcome to !usa@midwest.social, where you can share and converse about the different things happening all over/about the United States.
If you’re interested in participating, please subscribe.
Rules
Be respectful and civil. No racism/bigotry/hateful speech.
No memes/pics of text
Post news related to the United States.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
My default is to assume any new financial instrument is there to exploit you, but I’ve heard from peers in Europe that they’re done this forever and it’s fine?
It's better than credit cards IMO, you have a firm set amount of payments and amounts you need to make on a fim schedule (every 2 weeks) with no interest.
Properly managed, it's a decent way to make big purchases without straining your savings to do it. E.g. you want to make a 600$ purchase and have the money saved for it, but why spend it all when you have a 0 interest way to split that up over time in line with your paychecks? Then you can keep that savings for something truly unexpected
Ofc it's still debt short term or not, so if you're horrible at managing debt it's as bad as any other debt like Credit Cards