Credit Cards vs Debit
The cluster debates the advantages of using credit cards over debit cards, highlighting benefits like cashback rewards, consumer protections, chargeback ease, and no interest if paid off monthly, while addressing concerns about debt, fees, and safer spending limits with debit.
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Yet another reason to pay with a credit card and not debit card.
Why not just use a credit card?
Why not just use a credit card?
You are leaving money + benefits on the table by not using credit cards.
The whole point of a credit card is that you're not spending your own money!
If everyone treated their credit card like a debit card, and only spent what they have, would the rewards disappear?
If I use a credit card, I pay up to 20% on the outstanding amount. If I use my debit card, I get interest on the money that I don't spend. I also cannot spend more than what is in my account. If there is a charge I disagree with, I can easily reverse it without any cost. And I have never met anyone who had a fraudulent charge (without being dumb). To me, I cannot understand why anyone would use a credit card unless debit isn't accepted. I use that card maybe once a year for paying toll
Paying your credit card off fully every month ensures you don’t pay any interest (use it like a debit card). Wrt the earning interest point, consider that with a credit card you still get interest on the money you don’t spend, and you can also collect interest on the money you do spend (eg I buy something for $100 on the 15th, I can collect interest on the $100 until I have to actually pay the bill on the 1st of next month). Not to mention that you also pay 1-1.5% less for everything you use a
Not everyone that uses a credit card is financially supporting the company.
I’d be interested in the reason you don’t have a credit card. In my eyes, if you treat them like a debit card and don’t spend more than you have, then it’s just free money (2% cash back etc.)