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101 sats \ 3 replies \ @k00b 1 Dec 2022 \ on: Hello Stackers! Bold is a credit card backed by your bitcoin stack. AMA! bitcoin
Do you have an idea of what kind of interest rate you will charge? I might be missing it somewhere, but couldn't find it on a quick look around.
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34 sats \ 2 replies \ @Bold_Bitcoin OP 1 Dec 2022
We will have an APR that's lower than traditional credit cards. No specific details at this time but stay tuned
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0 sats \ 1 reply \ @jeff 1 Dec 2022
They should be more competitive than Ledn's rates, right? Or at least on par?
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0 sats \ 0 replies \ @Bold_Bitcoin OP 3 Dec 2022
I know first-hand the Ledn model and I think safe to say that the overall amount of interest you'd pay will be much less with Bold. Main reason is with Ledn you take out the entire amount of your loan and start paying interest on it from day one.
With Bold, you can spend for a month and then at statement time decide what you want to pay down. If you pay it down completely, you pay no interest. But even if you carried the entire balance, it's only after that month that you being accruing interest.
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