The billionaire businessman Mark Cuban, made an eccentric statement about credit cards, at a time when transactions with cash have declined noticeably.
"If you use credit cards, you don't want to get rich", underlined οflamboyant entrepreneur during an interview on "The Ramsey Show."
Cuban's biggest problem with credit cards is the high interest rates. The average interest rate for a credit card is about 16,65%, according to the latest Fed data, while some can jump as high as 36%, as WalletHub points out.
“Credit cards are not your friend. Debit cards are fine if there are no fees”he pointed out.
“Although you can avoid high interest rates by paying off your credit card balance every month, fine, but that can be difficult for many people. And if you don't pay off the balance in full, the interest continues to accrue" explained.
According to him, the alternative to using a credit card is to get one personal loan, if you have a good credit score, as this may allow you to get the money you need at a lower interest rate.
Source: insider.gr
Traditional Easter games were held on the afternoon of Easter Monday in the square of Agios Georgios in Paralimni...
A large amount of tobacco products was detected and confiscated yesterday, inside a vehicle in Paphos, by members of...
The Israeli army is today carrying out intensive bombardment in Rafah, in the southern Gaza Strip, for…
Children and adults enthusiastically participated in the traditional games of the Municipality of Deryneia. At the event they revived…
KEPA's Targeting Game of Giving and Love was held with great success on Holy Saturday...
The General Registrar of Elections announces that for the convenience of voters in a wheelchair, it has been secured...