31–40 of 75 posts
Earlier quoted context omitted.
In the US, many, if not most, credit cards don't charge a monthly fee. Is it different in the EU?
I have not many experiences as I am 19 and haven't switche banks, but my current bank requires a fee. See https://www.lzo.com/de/home/privatkunden/kreditkarte.html
To be honest, I always kind of lol at these kinds of rants. Wishing for the "one true payment system" is like thinking that everyone will switch over to speaking Esperanto in the near future. NEVER going to happen. Also, many of his gripes seem ridiculous. I don't know if the situation is different in Europe, but in the US I think pretty much everyone should have a credit card. You can use a secured card if you have…
> To be honest, I always kind of lol at these kinds of rants. Wishing for the "one true payment system" is like thinking that everyone will switch over to speaking Esperanto in the near future. There always exists cash (except for internet transactions, of course).
Earlier quoted context omitted.
Fair enough. But I don't pay 2€ per month for a credit card from my local bank to buy stuff from a vending machine. The overall point is, that I have not enough use cases to make resonable use of it in the real world over my current free debit card.
In the US, many, if not most, credit cards don't charge a monthly fee. Is it different in the EU?
"Only with a credit card. I am a student, I have no real world use for this kind of card" Yes you do, that vending machine you're standing in front of
You feel the need to take out a short-term loan for your soda purchase? The fact that a debit card isn't considered as good as (and further, that it's not assumed to be better than) a credit card is yet another bit of money horror.
Yeah why not? It's interest free for at least 3 weeks
"Only with a credit card. I am a student, I have no real world use for this kind of card" Yes you do, that vending machine you're standing in front of
You feel the need to take out a short-term loan for your soda purchase? The fact that a debit card isn't considered as good as (and further, that it's not assumed to be better than) a credit card is yet another bit of money horror.
One should almost never use a debit card, as if it gets compromised the money comes directly out of your account and the banks don’t have much incentive to help too much.
With a credit card, that stolen money belongs to the bank, and therefore they have a big incentive to get it back, so using this kind of card allows you to wield the power of a large company for your benefit. As long as you pay off the full bill every month, you are getting this protection for free.
"Only with a credit card. I am a student, I have no real world use for this kind of card" Yes you do, that vending machine you're standing in front of
You feel the need to take out a short-term loan for your soda purchase? The fact that a debit card isn't considered as good as (and further, that it's not assumed to be better than) a credit card is yet another bit of money horror.
"Only with a credit card. I am a student, I have no real world use for this kind of card" Yes you do, that vending machine you're standing in front of
You feel the need to take out a short-term loan for your soda purchase? The fact that a debit card isn't considered as good as (and further, that it's not assumed to be better than) a credit card is yet another bit of money horror.
Credit cards aren't for everyone, but if you can pay the full balance every month then there's no reason to not use one.
"Only with a credit card. I am a student, I have no real world use for this kind of card" Yes you do, that vending machine you're standing in front of
You feel the need to take out a short-term loan for your soda purchase? The fact that a debit card isn't considered as good as (and further, that it's not assumed to be better than) a credit card is yet another bit of money horror.
Otherwise there’s no reason not to use a CC instead of debit. It can even be life saving if you’re slim on the savings and are smart with your CC usage and settlement.
For me, the biggest problem is trying to move large amounts of money around, especially across borders. It took me like 3 phone calls and a trip to the bank to figure out how to move my money from my US bank account to my Canadian bank account without having to pay an absurd $40 wire fee. And of course currency conversion is a pain as well - if you are converting a large amount of money you either pay a tonne of fees through the bank, pay a fairly large amount of fees (~1%) through something like Transferwise, or pay no fees by going through the hastle of Norberts Gambit.
This is a bit "don't do that, then"; almost all the vital things take debit cards, including through contactless. It would certainly be nice to have something like Vipps in more countries; EU Faster Payments is getting there but not quite as usable. And it's 24-hour. For any of the peer-to-peer solutions, you have to consider the fraud problems. The problem with micropayments is microfraud.
The experience showed me why Apple Pay and Google Pay were considered worth developing, or using. The only places which could do contactless payment with my card could also do it with my smartphone.