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In the USA there is no chip and pin, the whole system is based on trust. Therefore, having credit cards exposes you to fraud. Some people may prefer to not have
by Theodores 10y ago
In the USA there is no chip and pin, the whole system is based on trust. Therefore, having credit cards exposes you to fraud. Some people may prefer to not have that attack vector to live within their means on a debit only account. Also some people may prefer to just look after their stuff and not bother with insurance and other financial products. With this mentality the benefits of a credit card are about as much use as 70's style Green Shield Stamps. For the generation not able to get on the property ladder much of the consumerism that goes with it is irrelevant.
- infinite8s 10y agoThat doesn't protect you from fraud, given how little personal information you need to open a credit card account. In fact without checking your credit reports you might not even realize you have an account fraudulently opened in your name.
- cmurf 10y agoUmm? There is chip and pin, it's every debit card. They used to be swipe and pin, but since pretty much all cards have been replaced with chip, it's now chip and pin. Credit cards in the U.S. are chip and sign, which is the dumbest piece of crap decision by the card issuing industry. Even though I have chip on both credit and debit cards, they become chip and sign when used in Europe. It's f'n hilarious being in a grocery store where the clerk is like "oh you have to sign, umm let me go find a pen" because it's that rare. I think the whole chip thing is stupid. We're 20 years late to the game. We should have just skipped it in favor of a more solid contactless system rather than spend all this money changing over to something arguably obsolete already.