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But, you are begging the moral question in assuming that credit cards are obviously like "drugs". For me, a credit card and a debit card are just different acc
by saltcured 3y ago
But, you are begging the moral question in assuming that credit cards are obviously like "drugs".
For me, a credit card and a debit card are just different accounting systems for the same thing. Either one has zero interest when I manage my expenditures properly and do not carry a debt. Either one could trigger penalties and/or interest if I outspend my budget.
I still prefer the credit card because of the frequently mentioned difference in consumer fraud protection. My fear is that the credit card providers will eventually erode their protections to match the debit card rather than the converse.
I do NOT want to participate in a system where a chip-secured/card-present transaction is now presumed to be valid and I have a difficult battle to contest a charge. If the card is made that valuable, I would then withdraw from the casual retail marketplace and keep my card locked up in a safe as others have mentioned in other threads.
- TheRealPomax 3y agoExcept this isn't about you. There are plenty of folks who can responsible take drugs, too, doesn't make trying to keep folks hooked any less destructive and predatory. All you're being is an outlier in the highly lucrative debt trap that credit cards offer the average credit card owner. Congrats on not falling for it; for you, a thousand people who do.
- ImPostingOnHN 3y agoI agree, you haven't convincingly made the case that credit is more akin to drugs than a restaurant or a bra store (the 1:1000 statistic in particular is suspect), and it seems your entire point depends on that case being true. Restaurants and bra stores, for example, also want to keep customers hooked. Does that make restaurants & bra stores predatory? Neither they nor credit card companies are forcing their customers to spend more than they can afford.