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Then they will ask why nobody wants to use their payment cards (lemmy.world)
submitted 1 year ago by to c/memes@lemmy.world
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[–] 12 points 1 year ago* (3 children)

Fiscally responsible people do it because of the cash back/perks and 0% interest.

Fiscally irresponsible people do it because 'free money' (ignoring the 28% annual interest).

Credit cards also offer better consumer protections than debit cards. Ex: chargebacks.

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  • [–] 2 points 1 year ago* (1 child)

    This is not true for many countries. Debit cards in my country have equal or even better consumer protections than credit cards and are also cheaper.

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  • [–] 2 points 1 year ago

    It's true in the United States. In the US, a debit card transaction is an EFTPOS (electronic funds transfer at point of sale) and once you enter your PIN, there are no take-backs and if you want a refund and the merchant refuses, you have to resort to the legal system for recourse. Credit cards, on the other hand, have consumer protection rules and dispute procedures.

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  • [–] 0 points 1 year ago*

    Fiscally irresponsible

    I mean, there are people who just don't have the money for a needed "purchase" (like medical care, transportation, or food), and hope they'll be able to get a better job or make more money in the future to pay it off later. Been there.

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