Comment by LatteLazy
4 years ago
Of course, without credit cards, people could only spend what they have so demand would fall, at least in the short term (or merchants would have to go back to offering credit themselves like the old days).
Credit card companies also offer a whole bunch of services to users like chargebacks and disputed that make it easier to enforce things like warranties.
Plus there are social benefits like reduced crime and saved time and energy visiting banks etc.
> [...] chargebacks and disputed that make it easier to enforce things like warranties.
> Plus there are social benefits like reduced crime and saved time and energy visiting banks etc.
All of these benefits are also applicable to debit cards.
I don't think you can do a charge back on a debit card. At least not here in the UK. Though you are quite right about crime etc.
I mostly use debit cards because I have no real interest in getting credit and dealing with debt etc.
I never know the status of debit cards. I assumed they were free riding on the credit card infrastructure (hence the zero fees etc). Is that not correct?
What‘s your debit card issuer? I‘d be extremely surprised if they don‘t allow chargebacks/disputes at all.