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You might be entirely correct but my experience tells me that being logically right and the way the world works are two different things. Under a few of these p
by chrismarlow9 4y ago
You might be entirely correct but my experience tells me that being logically right and the way the world works are two different things. Under a few of these points credit cards should not exist, yet here we are with our overlords.
- qeternity 4y ago> Under a few of these points credit cards should not exist, yet here we are with our overlords. Such as? Credit cards provide huge UX improvements most notably convenience and security. I don't have to carry around lots of cash, and if I have an issue with a transaction, the payment processor can arbitrate the dispute.
- chrismarlow9 4y agoWhy can't your bank provide all these services direct to your checking account?
- qeternity 4y agoBecause when you move money from a checking account, it's gone. You might say "ok well just hold the money for a bit" or similar, and congratulations, you've just invented credit.
- chrismarlow9 4y agoThat doesn't answer the question though.
- qeternity 4y agoIt absolutely does. I presume you're talking about transaction security, since debit cards have long existed for convenience, and again: once you send money from a checking account, it's gone. If I have a dispute on a transaction, it's far more difficult to reverse. The very nature of credit makes dispute resolution much easier.
- orwin 4y agoNot the person you're responding to, but this response is clearer than the previous one.