Do Americans seriously use more then 1 credit cards? (the ones, that allow for loans)
@LukeAlmighty Yeah. It's quite usual for Ameritards to get more and more credit cards in order to pay the loans of the previous credit cards they got.
@LukeAlmighty @zatrsakr Yeah, that's it. It's just evil moneylenders preying on financially weak, with some extra steps so it isn't so obvious.
@LukeAlmighty I saw rather brutal documentary about exactly this American phenomenon about 30 years ago. Unfortunately, I don't remember the title or any details. It showen a family that owned literally dozens of credit cards and was constantly looking for new banks that were willing to give them new credit cards so that they could pay their oldest card loans...
Today it's probably different and the banks are able to inform other banks "Don't lend to those people"