Ask me anything (for this week)
A regular thank you for my paying subscribers
The posts I write on this Substack will always be free for everyone to read. But I feel I should give some reward to my paying subscribers. So, I’ve started an “Ask me anything” post. Paid subscribers can ask questions in the comments, and I’ll do my best to answer them.
At the end of the week, I will share the Q&A with all my readers
I’ve also started a regular open thread, similar to the Monday Message Board on my longrunning (but now largely quiescent) blog. Keep a lookout
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Why can banks charge me interest twice on my credit card but claim it is only once?
The first time was when they debited my credit card, saying that I owed them the interest, but they did not give me the money to extend my loan, which they do for every other vendor I pay with a credit card. They say the interest was part of the original loan, and I must repay it.
Are they breaking the law by extending my loan, not giving the money, and claiming they charge x% interest when they charge 2x% if the credit card interest is 20%?
Doesn't this become predatory lending at 40%?