Ch 14 comment

I agree that credit cards are very convenient and easy to use, and that they sometimes cause problems. Most people who use credit cards pay the balance on their card on time, but there's always a few who do not pay on time. I think that having interest rates charged to late balances is a useful strategy to collect money. Because the owing balance on their cards would increase, credit card owners would want to pay the amount due sooner, rather than later when they would pay more than what they actually used.

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