3 ms·

I use credit cards like a debit card but get rewarded for using them. I pay them off in full every month, I have never once paid interest on a credit card bill.

by Kephael 10y ago

notadoc 10y ago
Me too, rewards plus the ability to easily contest and reverse fraudulent charges (which I have experienced multiple times) make a credit card infinitely better than a debit card.
- deleted 10y ago
  [deleted]
- madeofpalk 10y ago
  Here in Australia you can just as easily contest charges on debit cards. Bizarre that such a protection elsewhere is limited to just credit cards.
mysterypie 10y ago
> get rewarded for using them I understand why you want the rewards, and when I'm forced to use a credit card, I also want the reward. But we need to call out the bullshittedness of the system. Everything in the world is 2-3% more expensive just so that credit cards can "give" you 1% back as a "reward". (Similar situation: People who are thrilled with a tax refund. The government takes money away from their paycheck, then later gives part of it back. If they don't think about it, they think they're getting free money.) People get caught up in it as if credit card rewards are a good idea. It's not. It's a drag on the economy for the credit card companies to bake their costs into every transaction.
- chipperyman573 10y ago
  It very well might be, but not using a 1% cashback card doesn't mean you pay 3% less than someone using one. I can $1000 for a TV and get $10 or get $0 back - paying $970 and getting $0 back isn't an option
  - mysterypie 10y ago
    Sure, that's true so long as the reward system exists. But if the reward system didn't exist everybody (including YOU) would be better off. I wish there was an economic expression to describe the situation with credit cards and their rewards. Tragedy of the commons[1] and the unscrupulous diner's dilemma[2] both come close, but aren't exactly right. [1] https://en.wikipedia.org/wiki/Tragedy_of_the_commons https://en.wikipedia.org/wiki/Tragedy_of_the_commons [2] https://en.wikipedia.org/wiki/Unscrupulous_diner%27s_dilemma https://en.wikipedia.org/wiki/Unscrupulous_diner%27s_dilemma

I use credit cards like a debit card but get rewarded for using them. I pay them off in full every month, I have never once paid interest on a credit card bill.

by Kephael 10y ago

I use credit cards like a debit card but get rewarded for using them. I pay them off in full every month, I have never once paid interest on a credit card bill.

notadoc 10y ago

Me too, rewards plus the ability to easily contest and reverse fraudulent charges (which I have experienced multiple times) make a credit card infinitely better than a debit card.

deleted 10y ago
[deleted]
madeofpalk 10y ago
Here in Australia you can just as easily contest charges on debit cards. Bizarre that such a protection elsewhere is limited to just credit cards.

mysterypie 10y ago

> get rewarded for using them I understand why you want the rewards, and when I'm forced to use a credit card, I also want the reward. But we need to call out the bullshittedness of the system. Everything in the world is 2-3% more expensive just so that credit cards can "give" you 1% back as a "reward". (Similar situation: People who are thrilled with a tax refund. The government takes money away from their paycheck, then later gives part of it back. If they don't think about it, they think they're getting free money.) People get caught up in it as if credit card rewards are a good idea. It's not. It's a drag on the economy for the credit card companies to bake their costs into every transaction.

chipperyman573 10y ago
It very well might be, but not using a 1% cashback card doesn't mean you pay 3% less than someone using one. I can $1000 for a TV and get $10 or get $0 back - paying $970 and getting $0 back isn't an option
- mysterypie 10y ago
  Sure, that's true so long as the reward system exists. But if the reward system didn't exist everybody (including YOU) would be better off. I wish there was an economic expression to describe the situation with credit cards and their rewards. Tragedy of the commons[1] and the unscrupulous diner's dilemma[2] both come close, but aren't exactly right. [1] https://en.wikipedia.org/wiki/Tragedy_of_the_commons https://en.wikipedia.org/wiki/Tragedy_of_the_commons [2] https://en.wikipedia.org/wiki/Unscrupulous_diner%27s_dilemma https://en.wikipedia.org/wiki/Unscrupulous_diner%27s_dilemma