You're paying to reach people who can't buy
Conquest is the most expensive traffic you'll ever pay for, and most of it is wasted. You buy a list or run a campaign, blast an offer to thousands of strangers, and a handful respond. The rest were never candidates. You just can't tell which is which, so you pay to reach all of them.
Offer targeting
The offer is generic, because you know nothing about the person. "Rates as low as zero percent" reads as noise to a customer who is upside down on their trade.
An offer that ignores the customer converts like noise.