3 ms·

Because a lot of people don't seem to follow that. You get paid X on the 1st, as long as you spend X-1 within the month you have no need for a credit card. Oth

by orf 8y ago

Because a lot of people don't seem to follow that. You get paid X on the 1st, as long as you spend X-1 within the month you have no need for a credit card. Other than showing some opaque credit agency that your ok for more credit.

chrisseaton 8y ago
What about the consumer protection aspects? You don't get that with a debit card. I suppose you don't need it in the same way you don't need lots of things, but it's ignoring legal protection you could have for free? Plus every single time you buy on credit you are subsidising my credit card rewards.
- orf 8y ago
  > What about the consumer protection aspects? Which ones specifically? If they are truly for free then I don't need to pay for them by virtue of having a credit card.
  - chrisseaton 8y ago
    > Which ones specifically? In the UK it's Section 75 of the Consumer Credit Act, 1974. > Under Section 75 of the Consumer Credit Act 1974, the credit card company is jointly and severally liable for any breach of contract or misrepresentation by the retailer or trader. > You don't have to reach a stalemate with the retailer or trader before you can contact your credit card provider - you can make a claim to both the retailer and credit card provider simultaneously, although you can't recover your losses from both. > This right is particularly useful if the retailer or trader has gone bust, or it doesn't respond to your letters or phone calls. > Section 75 of the Consumer Credit Act also applies to foreign transactions as well as goods bought online, by telephone or mail order for delivery to the UK from overseas. https://www.which.co.uk/consumer-rights/regulation/section-75-of-the-consumer-credit-act https://www.which.co.uk/consumer-rights/regulation/section-7... > If they are truly for free then I don't need to pay for them by virtue of having a credit card. But law says you only get these protections if you buy on credit.
  - pathseeker 8y ago
    >Which ones specifically? If they are truly for free then I don't need to pay for them by virtue of having a credit card. Chargebacks, protection against a stolen card, no real money being tied up during a dispute, etc. >If they are truly for free then I don't need to pay for them by virtue of having a credit card. Every consumer is already paying for them because business price in the credit card fees into their retail prices. If you don't get a discount for using cash/debit, you are already paying for this protection. In the US, by not using a card, you are still paying for the benefits without getting them.
    - orf 8y ago
      > Chargebacks, protection against a stolen card, no real money being tied up during a dispute, etc. I have all of this already. And they price the risk of a card being fraudulent, which isn't specific to credit cards.
pathseeker 8y ago
>Other than showing some opaque credit agency that your ok for more credit. This credit agency determines your ability to rent with a low deposit and your ability to purchase a home with a loan.

by orf 8y ago

chrisseaton 8y ago

What about the consumer protection aspects? You don't get that with a debit card. I suppose you don't need it in the same way you don't need lots of things, but it's ignoring legal protection you could have for free? Plus every single time you buy on credit you are subsidising my credit card rewards.

orf 8y ago
> What about the consumer protection aspects? Which ones specifically? If they are truly for free then I don't need to pay for them by virtue of having a credit card.
- chrisseaton 8y ago
  > Which ones specifically? In the UK it's Section 75 of the Consumer Credit Act, 1974. > Under Section 75 of the Consumer Credit Act 1974, the credit card company is jointly and severally liable for any breach of contract or misrepresentation by the retailer or trader. > You don't have to reach a stalemate with the retailer or trader before you can contact your credit card provider - you can make a claim to both the retailer and credit card provider simultaneously, although you can't recover your losses from both. > This right is particularly useful if the retailer or trader has gone bust, or it doesn't respond to your letters or phone calls. > Section 75 of the Consumer Credit Act also applies to foreign transactions as well as goods bought online, by telephone or mail order for delivery to the UK from overseas. https://www.which.co.uk/consumer-rights/regulation/section-75-of-the-consumer-credit-act https://www.which.co.uk/consumer-rights/regulation/section-7... > If they are truly for free then I don't need to pay for them by virtue of having a credit card. But law says you only get these protections if you buy on credit.
- pathseeker 8y ago
  >Which ones specifically? If they are truly for free then I don't need to pay for them by virtue of having a credit card. Chargebacks, protection against a stolen card, no real money being tied up during a dispute, etc. >If they are truly for free then I don't need to pay for them by virtue of having a credit card. Every consumer is already paying for them because business price in the credit card fees into their retail prices. If you don't get a discount for using cash/debit, you are already paying for this protection. In the US, by not using a card, you are still paying for the benefits without getting them.
  - orf 8y ago
    > Chargebacks, protection against a stolen card, no real money being tied up during a dispute, etc. I have all of this already. And they price the risk of a card being fraudulent, which isn't specific to credit cards.

pathseeker 8y ago

>Other than showing some opaque credit agency that your ok for more credit. This credit agency determines your ability to rent with a low deposit and your ability to purchase a home with a loan.