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Credit card financial protections for Americans are one of the most strongly pro-customer sets of laws we have in the US. The rewards are a nice way to get some
by devilbunny 1y ago
Credit card financial protections for Americans are one of the most strongly pro-customer sets of laws we have in the US. The rewards are a nice way to get some of your money back, but you really can’t be cleaned out by fraud on actual credit cards (not debit cards using the MC/Visa logo and payment system). “That is an unauthorized charge, please cancel the card” is perfectly acceptable. In theory you are on the hook for the first $50, but in practice almost no bank holds you to that.
The consumer essentially can’t be accused of not exercising due caution unless you have ignored at least one bill with fraudulent charges. This is real value, so once you’ve bought into the system, getting the rewards is a major incentive to choose one card over another.
- wilkystyle 1y agoYep. I exclusively pay via credit card for this reason alone. (I have my autopay set to pay down the entire balance each month) Rewards are nice, but not the primary reason I use a credit card.
- IAmBroom 1y agoAnd to further this point: PayPal tries to position itself as "another flavor" of credit, but has none of these protections. In fact, PayPal binds you to their in-house mediation of fraud claims. I was required to ship $60 worth of merchandise back to the fraudster in China to receive a refund, but the cheapest shipping available to me was $50.