Loan sharks

Have you ever wonder how the rich gets richer? Have it ever occur to you to the fact that the smart and wealthy people make use of other people’s money to acquire and accumulate more wealth? Why is it that most banks prefer to lend money to customers than to have customers deposit money into their bank accounts? This is evident from the low interest rate associated with saving and high interest charge by the banks and financial institutions with regards to credit borrowing and lending.
Banks makes profit from the high credit interest charge to those who borrow money; the longer the repayment loan period the happier is the bank. Credit card companies are also making tons of money during economic downturns. How does a credit card company go about making profit despite the economic crunch? The answer is much simpler than you could ever imagine. Credit Card Company prefers to do business with the average Joe, the working class types rather than dealing with rich customers. Why is that so? Broke borrowers like the average Joe are what the banks and credit card companies often like to deal with. Those who have experience bankruptcy are more likely to struggle harder to repay the loans since they do not wish to end up in bankruptcy again.
Banks prefer borrowers to stretch the loan period to the maximum duration thus enabling maximum interest charge across time. Ordinary borrowers like the average Joe are more likely to stretch their loan repayment period.
Come to think of it, it seems that the banks and credit companies are no different from the normal loan sharks isn’t it? Banks and loan sharks equally alike charge high repayment interest for loans. Thus there are two things we must avoid if possible, the first one being to borrow money from the bank to finance our needs such as housing and etcetera, and secondly to partially pay our credit card bills since the interest charge for outstanding remaining credit card bill payments are enormous to begin with!.