RE: Why the use of credit cards may not go well in Nigeria

avatar

You are viewing a single comment's thread:

Thanks for writing.

I'll likely be looking through Nigerian websites to get an idea what is/ might be available there. I happily give my thoughts but remember I see things through a different lens so you may think I'm crazy 🤪.

In Canada it is not unusual to be in debt for thousands or tens of thousands of dollars in credit card debt with interest up to 29%.

I taught my kids to use credit responsibly since they were young and their first credit card had only a 12,000 ($20CAD) limit. Hard for them to get into big trouble with such a small limit.

I'm at my curation request limit for #hivepakistan but I'll try tomorrow to get your post curated.

Thanks for writing

hive-192111 hivenaija neoxian waivio cent ctp proofofbrain indiaunited credit leofinance
0
0
0.000
2 comments
avatar

Thank you very much. Credit cards would definitely affect the economy in Nigeria. I wonder how it'll be like if we can make purchases indiscriminately with such credit cards. We are a special breed in Nigeria and the aspect of responsible spending may not go well.

Nigerians do not mind plenty cars and houses and owning many properties compared to Canada that has those things in moderation

0
0
0.000
Reply
avatar

HAHAHA

Sorry.

Many Canadians aren't known for moderation. So many get into trouble for wanting everything now and at this moment I believe we have some of the highest debt on average in the G7 nations.

I'm just not average. My father and grandfather both went bankrupt from to much debt and i absolutely refuse to make the same mistake

0
0
0.000
Reply