3 ms·
That is always funny to hear complaints about high credit/overdraft fees. If they are high for individual how about not to use credit and there will be no fees?
by ponector 3y ago
That is always funny to hear complaints about high credit/overdraft fees. If they are high for individual how about not to use credit and there will be no fees?
- eru 3y agoHuh? That's exactly what I wanted! I wanted an account that would not give me any credit. I did not want any credit. But I also wanted the bank to do the mental arithmetic for me, and just refuse when I don't have enough funds. Instead of me having to carefully track my balance manually, lest I accidentally use any credit I don't want to. (For context: I usually try to keep my liquid balance fairly low, and stick the rest into savings and/or investments. It's ok for me, if a payment bounces every once in a while because of that. It's all about trade-offs. I can usually fix it pretty quickly by transferring some money from my savings account, or from my brokerage. With an account that helps me there, by not offering any unwanted credit at all, I can manage my finances a bit more aggressively, instead of having to keep up some safety cushion against arithmetic mistakes on my part.) See also https://news.ycombinator.com/item?id=39201675 https://news.ycombinator.com/item?id=39201675 for how that non-overdraft account works in practice for people who don't want to take on credit, but also don't want to have all their money in their 'checking' account.