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In general yes. I'm a Canadian but I think this is very similar to the US. Debit cards often have per-transaction fees. However it is becoming quite common to
by kevincox 4y ago
In general yes. I'm a Canadian but I think this is very similar to the US.
Debit cards often have per-transaction fees. However it is becoming quite common to have a very generous free allowance or even be completely free to the consumer.
Credit cards almost never have a per-transaction fee but may have monthly fees. That also usually have some sort of rewards program that give 1-3% of purchases back to the card holder.
So in general debit cards are low cost and becoming more universally free while credit cards pay you to use them.
- 0xffff2 4y agoThis is definitely not my experience (or the experience of anyone I know) in the US. Debit cards don't ever involve a fee charged by your bank here. Businesses may charge a fixed fee for debit transactions, but that hasn't been common for probably a decade or more in my experience. Free credit cards a bountiful and my estimation is that the vast majority of people using a credit card with a (usually annual) fee are doing so because they have done at least some math to convince themselves that the benefits (usually cashback or airline miles) will outweigh the fee for their specific usage. In some localities, it is common for businesses to charge a fee for using plastic, but these days it's pretty much never tied to debit/credit anymore.