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What you mention are all policy/regulatory differences, which can be made to apply to debit cards if there's will to do so. My point is that the credit card con
by Nextgrid 4y ago
What you mention are all policy/regulatory differences, which can be made to apply to debit cards if there's will to do so. My point is that the credit card concept now survives because there's no will to kill it off since it's a convenient way to siphon money from the pool/less-financially-savvy to the well off.
- gamblor956 4y agoNo, you're still not getting it. They aren't simply policy/regulatory differences. They are fundamental differences in what debit cards and credit cards are. One is a cash equivalent and one is a loan equivalent, and no amount of handwaving are going to make those the same thing. My point is that the credit card concept now survives because there's no will to kill it off since it's a convenient way to siphon money from the pool/less-financially-savvy to the well off. This is simply false and indicates a lack of understanding in what loans are or how credit cards work. Credit cards survive just fine in Europe without the points and other benefits.