doseofbuckley
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Bonus #272 - Klarna: Payment Plans for Fast Food?
🕑 Added 2025-04-08 16:00:09 +0000 UTCVIDEO LINK: https://youtu.be/5V6xj5DI5p0
Hey everyone, it's Bonus Dose Day, and this video was written BEFORE the stock market took a nosedive (for absolutely no reason of course who could even possibly say why) but perhaps it's become more relevant this week! Since the economy is in the shitter, perhaps we'll ALL need to start buying Wendy's on credit and pay for it in just 4 easy instalments. Enjoy this (humorous?) look at our dystopian future becoming the present!
Buckley goes on a rant about the history of credit cards, payday lenders and rent-to-own furniture stores as he discusses "Klarna", a company that recently partnered with DoorDash to offer "instalment payments" for fast food. Is this the sign of a bad economy that they don't think you can pay for McDonald's? Or simply corporate greed taken to its most logical place?
Comments
John Lumsden Jr.
Ive never had a credit card. But for those who want the usefulness of credit with enough inconvenience to (hopefully) not overspend, I recommend a small line of credit and don't connect a card. Relatively easy to get, even with bad credit, but I have to go to the bank and physically pull the money if I want it.
TheWebMachine
Though, interest rates here in the US are closer to 30% these days...but my point stands. 🤪
TheWebMachine
One small problem with the video, Doc. That 20% interest you quoted is an annual percentage rate (APR). So, that's an effective 1.67% interest applied to the balance every month. While it doesn't quite make your point as saliently with $101, $103, etc, another example showing how much it costs ya over a year would have sufficed, since most folks carry balances for a year or more...or forever.
Chris
Australia has a product called BeforePay "Get instant access to your pay, today. No interest or hidden costs, just a fixed 5% fee." Knowing some of the blokes I worked with that'd ask for $20 for smokes towards the end of the week (routinely). This would be a proper sentence to loosing 5% of whatever they are allowed borrow each pay day. But it's alright as they won't need to credit check it so it's all good. Wtf. Thought it was a joke the first time I saw it.
