4 ms·

Why is paying with credit card the default in the US (at least that the impression I've got when visiting as a tourist) while here in Europe debit cards are the

Why is paying with credit card the default in the US (at least that the impression I've got when visiting as a tourist) while here in Europe debit cards are the norm?

SoftTalker 3y ago
Fraud protections are better with credit cards. Also you have a chance to dispute fradulent charges before your money is gone.
dotnet00 3y ago
Credit cards often come with some %age cashback for certain kinds of purchases, and my understanding is that since the bank is technically the one paying, credit cards give you greater ability to dispute transactions. Since while a bad business might be able to blow you off as just a random nobody, with a credit card you could drag the bank into the matter, which is a lot harder for a business to screw over.
wil421 3y ago
I can make 6% off my groceries, 3% off gas, 3% off online shopping, and get all kinds of extra device protections warranties like theft and defects. Next I auto pay all my bills on my Delta Amex to get skymiles and $200 for flights a year plus free luggage. My gas company also has a deal with Delta so I get double points. My wife expenses all her sales based expenses on her card at gets 2% or up to 3% for Restaurants. This month I am cashing in about $1000 cash back I’ve accumulated in the past ~9 months. Putting it towards a new MacBook Pro.
tzs 3y ago
Plenty of people in Europe have credit cards [1] so now I'm curious. Why do so many have them? In the US where most people who are not paying cash do indeed use credit cards it is pretty normal to also have a debit card, but that is because the debit card is what you use to get cash at an ATM and so it makes sense to have one even if you never use it for payments. [1] https://www.theglobaleconomy.com/rankings/people_with_credit_cards/Europe/ https://www.theglobaleconomy.com/rankings/people_with_credit...

Why is paying with credit card the default in the US (at least that the impression I've got when visiting as a tourist) while here in Europe debit cards are the norm?

SoftTalker 3y ago

Fraud protections are better with credit cards. Also you have a chance to dispute fradulent charges before your money is gone.

dotnet00 3y ago

Credit cards often come with some %age cashback for certain kinds of purchases, and my understanding is that since the bank is technically the one paying, credit cards give you greater ability to dispute transactions. Since while a bad business might be able to blow you off as just a random nobody, with a credit card you could drag the bank into the matter, which is a lot harder for a business to screw over.

wil421 3y ago

I can make 6% off my groceries, 3% off gas, 3% off online shopping, and get all kinds of extra device protections warranties like theft and defects. Next I auto pay all my bills on my Delta Amex to get skymiles and $200 for flights a year plus free luggage. My gas company also has a deal with Delta so I get double points. My wife expenses all her sales based expenses on her card at gets 2% or up to 3% for Restaurants. This month I am cashing in about $1000 cash back I’ve accumulated in the past ~9 months. Putting it towards a new MacBook Pro.

tzs 3y ago

Plenty of people in Europe have credit cards [1] so now I'm curious. Why do so many have them? In the US where most people who are not paying cash do indeed use credit cards it is pretty normal to also have a debit card, but that is because the debit card is what you use to get cash at an ATM and so it makes sense to have one even if you never use it for payments. [1] https://www.theglobaleconomy.com/rankings/people_with_credit_cards/Europe/ https://www.theglobaleconomy.com/rankings/people_with_credit...