• Stache_@lemmy.ml
      14·
      5 months ago

      I mean, not really if you treat it like a debit card and never spend more than you actually have in the bank. Then you benefit from whatever points or rewards your credit card offers

      • buckykat [none/use name]@hexbear.netEnglish
        15·
        5 months ago

        Living your life dancing on a bear trap is fine just so long as you’re really careful to never step on the trigger. Plus, the bait is really tasty!

        • Stache_@lemmy.ml
          8·
          5 months ago

          I’ve never heard that saying before, I like it!

          Yeah it’s certainly a slippery slope that has some serious consequences if you don’t use discipline and stay within your budget

        • Koolio [any]@hexbear.netMEnglish
          1·
          5 months ago

          For me, it’s a cashflow thing. If I use credit that’s one month I do not have to spend my own money on something - it also allows for larger purchases in one place, whereas I might have to move a bunch of money around and wait days if I paid cash.

          Credit card companies make their money on merchant fees, the people who get trapped in cycles of debt are just the gravy on top for the fuckers.

      • Kumikommunism [comrade/them, any]@hexbear.netEnglish
        10·
        5 months ago

        So what happens if someone who isn’t lucky enough to have a good education in finance experiences sudden financial hardship and then relies on paying more on credit than they have in the bank? (An extremely common occurrence) Would you say the debt makes the situation better or worse?

        And then, does that make you rethink whether its “not really” bad?

        • Stache_@lemmy.ml
          11·
          5 months ago

          Very good point. I was responding to the “everyday purchases” not being all that bad to use a credit card for if you already have the money for it.

          Sudden financial hardship is a much different situation and I agree, the debt would make it worse

          • Kumikommunism [comrade/them, any]@hexbear.netEnglish
            7·
            5 months ago

            Right, but I think the implication in “people” after “95% of sales” there is pretty clearly “our whole society”, which presents the above problems. With the context, it made your comment read as “this doesn’t need to change, and if it goes bad, it’s your fault”. But I’m glad you understand. We just very commonly have people from the Lemmiverse here with comments to the effect of “the status quo is good, actually”.

    • came_apart_at_Kmart [he/him, comrade/them]@hexbear.netEnglish
      7·
      5 months ago

      theres a lot of us that pay off balances immediately and use the credit card for convenience, security and perks.

      credit cards have way better user protections for fraud than debit cards. if there’s a bogus charge, i can dispute it without that money going missing from my cash account. the onus is on the card company to figure it out, because i don’t have to pay for it. so they invariably reverse the charges while conducting their investigation. debit fraud can be brutal, because the longer the bank dawdles, the more fees and payment rejections you can incur while your balance is artificially low.

      i only need to carry a little bit of cash, and my particular card gets cash back between 2-4% on all kinds of shit like groceries, fuel, retail household items etc.

      the only time i pay with some other method is when there is a card convenience fee / cash discount… which is becoming more frequent and often exists with independent contractors and muncipalities.

      using a CC for everyday purchases is not any more precarious than using other forms of payment unless you can’t trust yourself to stay in a budget… in which case, you shouldn’t use checks or a debit card because you can totally go crazy with those too and get buried in fees, not to mention the punitive banking moves like reporting to chexsystems, after which you’re gonna be punitively de-banked and forced into the realm of short term loans and those strip mall check cashing services with exorbitant fees.