Some people are never happy unless there’s detectable urine in the punchbowl. A Quoran threw this out: Is it true that the median interest rate for credit cards is 21.36%? Is this high-interest credit used by many people?
I gave it a handwave — if you pay it off every month like you’re supposed to, the interest rate becomes irrelevant — but this wasn’t sufficiently literal-minded for this twerp:
The question asks whether many people are using the high interest credit. i.e. whether many people have these cards and do not pay of their balance every month, thus paying these interest rates.
Well, chuck you, Farley:
Card issuers wouldn’t set rates like this unless they expected some people to pay them. Oh, and “median” implies that half the users pay less, and half pay more. It is therefore trivially obvious that some people are paying these rates.