3 ms·

> Credit card are by default Debit Card Credit cards are credit cards, even in Europe. It's just that banks issue debit cards, rather than credit cards and I t

> Credit card are by default Debit Card Credit cards are credit cards, even in Europe. It's just that banks issue debit cards, rather than credit cards and I think that the point. You're financial business in much of the EU is between you and your bank, not some third party credit card company. The debit cards rides on top of the networks built by VISA and MasterCard (and others) for the credit card industry, but the actual financials are between you and your bank. The bank doesn't want you to owe the credit card companies money, they want you to owe them money, but that's normally done using a loan or allow overdraft of your account. I really think the difference is in the banks and their involvement. Now I'm not suggestions that EU banks are awesome and cuddly entities, but they are more regulated and easily replaceable within many EU country. E.g. switching banks is really not a problem it takes a few days and you don't have to do anything.

adev_ 3y ago
> Credit cards are credit cards, even in Europe. It's just that banks issue debit cards, rather than credit cards and I think that the point Partially but not exactly. France "CB" are labelled "Visa" (not Visa Debit nor V-Pay) or "MasterCard" (Not Maestro nor MasterCard debit). Their interchange system will make these card accepted mostly everywhere where Credit Card are accepted. They are accepted even where Visa Debit or MasterCard Debit are refused (e.g Airlines ticket, Car Rental, Some Hotel booking). And still they are all debit cards by default with instant payment taken from your bank account.
2rsf 3y ago
In Sweden you can apply for a credit card directly through the bank. And aren't credit card companies separated from the bank everywhere?
- unmole 3y ago
  > And aren't credit card companies separated from the bank everywhere? Do you mean in Europe? Because that is not the case in the US and India. While there are credit card companies, most banks issue credit cards themselves.

adev_ 3y ago

> Credit cards are credit cards, even in Europe. It's just that banks issue debit cards, rather than credit cards and I think that the point Partially but not exactly. France "CB" are labelled "Visa" (not Visa Debit nor V-Pay) or "MasterCard" (Not Maestro nor MasterCard debit). Their interchange system will make these card accepted mostly everywhere where Credit Card are accepted. They are accepted even where Visa Debit or MasterCard Debit are refused (e.g Airlines ticket, Car Rental, Some Hotel booking). And still they are all debit cards by default with instant payment taken from your bank account.

2rsf 3y ago

In Sweden you can apply for a credit card directly through the bank. And aren't credit card companies separated from the bank everywhere?

unmole 3y ago
> And aren't credit card companies separated from the bank everywhere? Do you mean in Europe? Because that is not the case in the US and India. While there are credit card companies, most banks issue credit cards themselves.