FIN 101 Lecture Notes - Lecture 25: Annual Percentage Rate, Annualcreditreport.Com, Credit Risk
Document Summary
A lot of people hate negotiating, however, it can come in handy with credit cards. It"s not worth negotiating everything, but there are some circumstances when negotiating can result in a big win for you. Three commonly used credit card tactics: scary stats. According to the prosperity now scorecard, the median us household credit card debt is ,241 and the media debt for student loans is ,711. 4/10 adults in 2017 either had to borrow money, sell something, or not be able to pay if they had to pay for a emergency expense: scary headlines. Things like the looming debt crisis hurts these people the most : scary emotions. Things like confusion, anxiety, and lies are known by the media to sell pageviews and ads. When faced with these tactics, a lot of people shut down and ignore the problem. The media thrives on creating anxiety and fear around debt framing it as if it"s inescapable and crippling.