29 ms·

I honestly don't understand why they're so popular here either. A debt card is basically the same as paying with cash, because you have the money. With credit,

by Vexs 10y ago

I honestly don't understand why they're so popular here either. A debt card is basically the same as paying with cash, because you have the money. With credit, you're still doing the same thing, but you pay later- either way you're still paying the same amount, but with credit, you can fuck yourself pretty easily. Also, it's because credit cards are so prolific here that it's harder to take out a mortgage, if everyone has a good credit score but you, then you're not going to be at the top of their list.

icebraining 10y ago
Don't most credit cards offer rewards? If so, it's not true that it's the same thing, especially if there's no discount for paying with cash/debit.
- ghaff 10y ago
  >Don't most credit cards offer rewards? Typically cash back credit cards also have (especially) egregious interest rates for carrying a balance month to month. And some have a fee. Cards without cash back typically have lower (but still very high) interest rates.
  - icebraining 10y ago
    Yeah, but you can not carry a balance. I'm not saying it's easy for everyone, but that would explain their popularity.
StillBored 10y ago
Debit cards have traditionally had less fraud protection in the US, and I don't think any of them have a rewards program. So, why should I use one over my credit cards automatic 1% (or more) in cash back? If I want cash equivalent, I use cash...
- cmurf 10y ago
  Fraud protection is required by law. The reason why the protections differ is because of different laws, Fair Credit Billing Act applies to credit cards, and the Electronic Fund Transfer Act for debit cards. The only reason fraud protections would not be identical between credit and debit cards is because Congress doesn't care enough to make them the same, and that might have something to do with being under the boot of the finance industry. https://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards https://www.consumer.ftc.gov/articles/0213-lost-or-stolen-cr...

by Vexs 10y ago

icebraining 10y ago

Don't most credit cards offer rewards? If so, it's not true that it's the same thing, especially if there's no discount for paying with cash/debit.

ghaff 10y ago
>Don't most credit cards offer rewards? Typically cash back credit cards also have (especially) egregious interest rates for carrying a balance month to month. And some have a fee. Cards without cash back typically have lower (but still very high) interest rates.
- icebraining 10y ago
  Yeah, but you can not carry a balance. I'm not saying it's easy for everyone, but that would explain their popularity.

StillBored 10y ago

Debit cards have traditionally had less fraud protection in the US, and I don't think any of them have a rewards program. So, why should I use one over my credit cards automatic 1% (or more) in cash back? If I want cash equivalent, I use cash...

cmurf 10y ago
Fraud protection is required by law. The reason why the protections differ is because of different laws, Fair Credit Billing Act applies to credit cards, and the Electronic Fund Transfer Act for debit cards. The only reason fraud protections would not be identical between credit and debit cards is because Congress doesn't care enough to make them the same, and that might have something to do with being under the boot of the finance industry. https://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards https://www.consumer.ftc.gov/articles/0213-lost-or-stolen-cr...