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Do you use a credit card? Why or why not? (discuss.tchncs.de)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

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I know this might just reflect financial culture differences across countries, but let's give it a try

Edit: as a clarification, I meant credit card compared to debit, not to cash

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[–] [email protected] 12 points 1 year ago (1 children)

I use a credit card because our laws in the USA protect credit-card purchases better than they do debit-card and other electronic purchases.

Although I use a credit card with revolving credit, I always pay the full balance each month. In this way, it acts as a debit card, but I get the benefits of a credit card. I have to remember to pay it on time, but I can set up autopay even for that.

My credit union (a kind of non-profit bank owned by its members) is the issuer of the card, and it gives a 2% cash award for credit-card usage.

[–] [email protected] 2 points 1 year ago (1 children)

I do this, too. Anyone with any sort of self control should do the same, unless they prefer cash.

Using a debit card is too risky.

[–] [email protected] 2 points 1 year ago

I feel exactly the same way. The only case I would recommend a debit card is if it's at a separate institution from your main savings. That way, you'd only lose up to whatever that account has.

I've seen too many stories of people losing their savings because of a compromised debit card.