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This applies to any economic transaction. there is nothing stopping you from spending all your money at once with a debit card.
by tekla 3y ago
This applies to any economic transaction. there is nothing stopping you from spending all your money at once with a debit card.
- moritzwarhier 3y agoNo this does not apply to any economic transaction. With a CC, anything you spend is turned into debt first, and the CC companies often position their products in a way that encourages accumulating more debt than you can realistically pay off. Actual payment, in the sense that you are being charged for the thing/service you bought, is delayed. For people who actually have to pay attention to stay on a monthly budget, for example because they are not overly wealthy, this is a danger. Sure I am ready to admit that money equals debt in the end. But that does not change anything about the difference between immediate spending of money and taking up debt to spend money.