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> Why would you even use a credit card if you have the money? I get ten percent cash back on groceries right now. It is subsidized in a sense, and builds out a

> Why would you even use a credit card if you have the money? I get ten percent cash back on groceries right now. It is subsidized in a sense, and builds out an advertising portfolio on me - those are questionable - but it is money in my pocket.

wkat4242 2y ago
Oh really? I never get any on my cards. Definitely not for things like groceries. Once in a blue moon they have some discounts in the credit card app but they are always discounts based on the RRP price which are totally useless because the same article is cheaper on amazon at street price. I do have a "credit card" because some sites refuse to accept debit ones. But no cashbacks or anything. Maybe it differs by bank (I use caixabank in Spain) The one thing I do like as a reward is that caixa funds several museums and you can get in for free if you have an account with them. But it doesn't have to be a credit card, a normal account is enough.
- spacemanspiff01 2y ago
  The us is different between the us and Europe, everytime someone uses a credit card there are fees that go to the bank and the credit card processor. In Europe these are legally capped, in the us they are not. So the 2% cash back on US cards is the cards and banks competing for market share by providing kickbacks from these fees to customers. https://www.bitsaboutmoney.com/archive/how-credit-cards-make-money/ https://www.bitsaboutmoney.com/archive/how-credit-cards-make...
  - wkat4242 2y ago
    Ah I see, yes here it only costs money (I think it's 25 euro per year or so). And reduces maximum available mortgage so I try to avoid them.
jjav 2y ago
> ten percent cash back on groceries You must share which card is this, I will get one immediately. 10%?
- monetus 2y ago
  Sorry, I just saw this. Not a fancy card, a discover it® https://www.discover.com/credit-cards/cash-back/it-card.html https://www.discover.com/credit-cards/cash-back/it-card.html The ten percent is a promotion they were doing for getting the card; matching your cash back for a bit. 1% on everything, 5% on a couple of categories, and x2 for only a bit.

wkat4242 2y ago

Oh really? I never get any on my cards. Definitely not for things like groceries. Once in a blue moon they have some discounts in the credit card app but they are always discounts based on the RRP price which are totally useless because the same article is cheaper on amazon at street price. I do have a "credit card" because some sites refuse to accept debit ones. But no cashbacks or anything. Maybe it differs by bank (I use caixabank in Spain) The one thing I do like as a reward is that caixa funds several museums and you can get in for free if you have an account with them. But it doesn't have to be a credit card, a normal account is enough.

spacemanspiff01 2y ago
The us is different between the us and Europe, everytime someone uses a credit card there are fees that go to the bank and the credit card processor. In Europe these are legally capped, in the us they are not. So the 2% cash back on US cards is the cards and banks competing for market share by providing kickbacks from these fees to customers. https://www.bitsaboutmoney.com/archive/how-credit-cards-make-money/ https://www.bitsaboutmoney.com/archive/how-credit-cards-make...
- wkat4242 2y ago
  Ah I see, yes here it only costs money (I think it's 25 euro per year or so). And reduces maximum available mortgage so I try to avoid them.

jjav 2y ago

> ten percent cash back on groceries You must share which card is this, I will get one immediately. 10%?

monetus 2y ago
Sorry, I just saw this. Not a fancy card, a discover it® https://www.discover.com/credit-cards/cash-back/it-card.html https://www.discover.com/credit-cards/cash-back/it-card.html The ten percent is a promotion they were doing for getting the card; matching your cash back for a bit. 1% on everything, 5% on a couple of categories, and x2 for only a bit.