Nice way of saying people are stupid. You’re not wrong.

Assuming they were financially educated and pushing their personal finances to the edge, they’d most likely switch over to BNPL which charges a fraction of the cost for late payments.

Ever notice Credit Cards don’t require you to establish how you’re going to pay and put auto-pay on by default? Can tell you at a major US Credit Card Issuer the rate is LOW for auto-pay enrollment.