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True. However, it seems to work quite well in the US, where people grow up with several credit cards in their wallet. I always wondered how far you can push th

• tavavex 3y ago
  At least with credit cards, you can use them wisely and still benefit from them (credit cards often have benefits that no debit card has, a high credit score can theoretically help you elsewhere, and so on). But I agree that neither credit cards nor BNPL were created with benevolent intentions - a lack of financial literacy seems to be fairly common, and these payment methods are used as ways to make people feel richer than they actually are, and spend accordingly.
  • waveBidder 3y ago
    The profit model for credit cards is still the same though; if no one was over-extended, there would be no surplus on which to provide perks to those who aren't. This is just point of sale companies getting in on the game and decreasing the friction of buying things.