Source: I live in Texas.
The first time I saw that episode was at a friend's house. I felt so smart telling him that was impossible because you can't mod software with a soldering iron. Then his dad poked his head out from the kitchen and told me Pong didn't have software.
Turns out the only impossible part of that episode is the idea of it taking a few hours. Changing the paddle size was a mod already supported by the hardware and the manual gave details on how to do it. Though it wasn't necessarily intended as a difficulty setting, it was intended to support different sizes of TVs. iirc, all you need to do is solder 1 jumper.
> I don't know about others, but I always float thousands on my balance
This is the operative part. People on this forum tend to be in tech, and floating thousands is possible. A quick google search showed average US income is 60k/yr. Less 10k for taxes, less 20k for housing, that allows a float of less than 3k per year. The source previously stated an average debt of 6k, which is a balance more then the monthly income, and ergo is being carried over.
Looking for more direct data on how many Americans are paying credit card interest, I found this data:
"Half of credit cardholders surveyed in June (2024) as part of Bankrate's latest Credit Card Debt Survey said they carry balances over month to month. That is up from 44% in January – and the highest since since March 2020, when 60% of people carried debt from month to month" [1]
I thereby stand by my statement that your second paragraph was equally wrong (and equally right) as the second paragraph you were calling wrong.
[1] https://www.usatoday.com/story/money/2024/08/10/credit-card-...
If I had long standing debt on a credit card, I’d be paying an extremely high interest rate on that debt even with a >800 credit score.
If I have a balance that’s completely paid every month, I pay no interest on that “debt”. And while that money is floating, it’s in a 4.5% high yield savings account (Sallie Mae).
In the former situation, I am losing money. In the later, I’m making money. (Compared to paying with cash / debit).
And on top of that, I really do value things the credit cards offer, like fraud protection. If I pay for something with a credit card and never receive the goods, I can get the card company to issue a chargeback, and pay nothing. If I buy something with FedNow and never receive the goods, that money is just gone.
Some anecdotes from this year:
I attempted to use LetsRoam over a year ago. It was a spectacular failure and offered no value. Cancelled and all was well. Over a year later they started charging me two monthly fees for who knows what reason. I called them, they bumbled around, and referred it asynchronously to some other department. I’m three months into these mysterious charges. All have been clawed back.
I tried educative.io and frequently encountered non-sense that was objectively, demonstrably false being presented with high confidence. I asked for a refund, and they said they don’t do that. I wasn’t really asking…
I paid a $2k deposit for a Harley that the dealer didn’t have in hand yet. There were unreasonable delays (I suspect they sold the bike to someone else for more), and the dealer’s policy was to not refund the deposit, but to only allow me to apply it to another motorcycle. Guess who else has policies. Because of the amount and timeframe, this was a little more involved, but still only took 15 minutes of my time.
I paid to park, but it appeared to fail. So, I tried again. I was doubled billed. Idk who I’d contact to request a refund. So, dispute it is.
I open my banks app, click dispute, and am refunded. It’s saved me untold hours of dealing with incompetence and/or maliciousness.
I simply don’t deal with this BS. I behave ethically (as best as one can judge that for themselves), but as soon as I hit abusive commercial sociopathy, I disengage. As far as I’m concerned, Visa / Chase are earning their 3%.