It provides certainty to everybody, from bankers to farmers to business owners to consumers. If you’ve ever applied for a credit card, a student loan, or a housing loan you know the feeling of signing your name to pages of barely understandable fine print.
What often happens as a result is that many people are caught by hidden fees and penalties, or saddled with loans they can’t afford. They are then, hit with a massive rate increase on their credit card balances even though they paid bills on time.