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ayyojosh t1_j7uh4r9 wrote

tbh i’m glad companies like affirm are operating at a net loss, these type of businesses (buy now, pay later) are super predatory and often target low-income and financially illiterate individuals

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Tato7069 t1_j7uiccv wrote

And it turned out they were the low income financially illiterate individuals all along

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jeffinRTP t1_j7umxvq wrote

I use them quite often and probably 75% of mine are interest-free, making four payments once every two weeks. The ones that are not the interest rates are in line with credit cards.

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TheNoidedAndroid t1_j7w9ws0 wrote

That's a great anecdote but doesn't change the fact that they make hundreds of millions off predatory loans.

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jeffinRTP t1_j7wc9fj wrote

Except it shows it lost almost 600 million dollars off those loans. I'm guessing that people would be better off without whatever they used the money for.

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kupuwhakawhiti t1_j7vqgpw wrote

These lenders are a scourge. Luckily they seem to be on their way out.

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