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| ▲ | criddell 4 hours ago | parent | next [-] |
| The downsides aren’t really self-evident to me. I’ve been using credit cards for everything I can for 35 years and I can’t think of any downsides. Even the cards I’ve had that had annual fees I chose to pay that fee because the benefits were worth more than the fee to me. I can think of plenty of times where the upsides of having a credit card were realized though. |
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| ▲ | tptacek 4 hours ago | parent [-] | | You don't know anybody in 5-figure+ credit card debt? I know several. I don't know anybody in debit card debt. | | |
| ▲ | criddell an hour ago | parent [-] | | No, I don’t know of anybody who has a big credit card debt. I don’t think I’ve ever carried a credit card balance past my payment date. I did have a six-figure debt to a bank and if didn’t make my payments they would take the house from my family! Much higher stakes than any credit card debt I’ve ever had. I do have a debit card though and it’s actually not that different from a credit card. If I spend money not in my account I would get charged a $25 overdraft fee plus interest. | | |
| ▲ | tptacek 41 minutes ago | parent [-] | | I think that's weird, because I can count off 6 or 7 just off the top of my head, people I know reasonably well, all of them well-educated, and smarter & better organized than I am. I don't really understand the argument we'd be having here: obviously, empirically, credit card debt is an enormous problem in the United States. |
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| ▲ | epcoa 5 hours ago | parent | prev [-] |
| So maybe I’m wrong but the belief is that debit card protections are worse than a credit card in the US. I really don’t have the personal time to test this, but I do know that when I dispute on a credit card it is initially removed until proven valid. Again maybe I’m wrong but I don’t agree they are equivalent. It sure fucking feels that way, the money isn’t threatened from my account. |
