Comments by "michael" (@michaeld4861) on "How Credit Card Late Fees Are a Scam" video.

  1. They are already charging insane interest rates on credit card balances so charging another "late fee" on top is just a way to scam people. I mean most credit card interest rates are between 17-25% and if you have bad credit they can be even worse!
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  2. People still have to eat, even if they don't have the money currently. And our society literally runs on debt. Do you own a home? Did you pay for it with cash? If not then why are you spending money you don't have? What about your car? Maybe your employer is doing some "corporate restructuring" and you got fired for no reason and can't find a job now because they were all shipped to China. Now you got no health insurance either, what if you got sick? Should you not get cancer treatment because you don't have the money?
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  3.  @kevinbl4836  It's not a risk when they can just write off any loss for taxes and get bailouts anything they gamble too much and crash the economy.
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