Your logic is just so flawed. If i bought a $10 tshirt on APT and ended up with $10 in late fees, if i was rational my irritation would not be low, i would think that i have overpaid by 100%
Unless i was financially illiterate, then i can see your logic "oh its only 10 bucks, at least its not going to a big bank." But maybe that is APTs customer base.
By your logic, i should be irritated if i pay $1,000 in interest/month on my mortgage to a big bank. Literally makes no sense at all.
APTs whole business model is irresponsible spending. Its buy, and enjoy now, and think about the consequences (pay) later. This is why their advert campaigns were "broke AF but want to treat yourself, Afterpay it". The bread may be the 4% merchant fee, but the butter is the late fee (it makes up a significant portion of their revenue).
A card issuer is incentivised to ensure they have good customers who are able to pay back their debts. Because the collateral they have against that debt is worth zero. This is why they do a credit check before issuing a card, along with looking into your payslips etc to ensure you can pay back.
Its not meaningless to discuss which model has the lower fee because the APT bulls say that the attraction of APT is that it has lower fees - which i have just disproved in my analysis above.
APT Price at posting:
$68.42 Sentiment: Sell Disclosure: Not Held
