Comment by silisili
18 hours ago
I wish I could scream this from the rooftops. People should keep their debit cards locked/frozen, and only use them to get money from ATMs when needed.
All other spending should go onto credit cards, for numerous reasons that have been bought up throughout this thread.
Stay on your own rooftop please. That is a very US only view.
There's nothing wrong with debit cards being used.
If I can shout one thing back up to your rooftop:
Why on earth do your transactions cost 2 or 3 percent. For what? For basically verifying an RFID chip and adding a single entry to a ledger?
Don't say you're getting it back with points or whatever because we all know that the credit card company won't be going broke so that cut is coming from somewhere. And in the end that's always the consumer
Of course it's a US view. It's a US site and the OP even prefaced it as such. Does every reply need to do the same?
Retailers(in the US) typically eat the cost. Some industries(in the US), like gun shops, are up front about charging more for credit card payments. Most companies(in the US) just see it as cost of doing business.
Points have next to nothing to do with why you should always use credit cards(in the US). There are legal consumer protection reasons. The points are just an optional perk.
> Retailers(in the US) typically eat the cost
This is what I really have a problem with. It feels so incomprehensible to me that, assuming you're an adult, you can think this.
It's just a cost, if that cost didn't exist then either the price would be lower or the margin would be higher. In the end you're paying for it. You're the one exchanging money for a good/service.
This is proven by your other comment about how some sectors give you the option. I would rather have that option because those legal protections are useless for the majority of purchases. Good luck disputing that burrito you bought or those groceries. In such transactions you're basically just inviting a company to take a cut for 0 added benefit (aside from points).
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Most banks/CU will issue you ATM only card that cannot be used a credit card. Might require some wrangling with the bank.
These are increasingly harder to get, sadly. My credit union won't anymore. I have to keep a debit card locked