Should I get a Credit Card?

[zoom rader]

I had one mortgage, that's all.

Cash is king

So you taking out mortgage but vex when people take out a credit card?

Lol u is one pathetic old man eh

How old are you now? 55?

A mortgage is an investment on property. Property always appreciates

A CC is not, and interests rates go up while ur pockets are empty

Signup bonuses, cash rebates, travel points, and no counting change at the checkout - why would any fool rely on cash?

Pay your bill in full at the end of the month. Only a sufferer would pay interest on a CC.

U spend a 100k on a CC to get $1000 in points ?

A flash, is nice but over time it catches you.

[zoom rader]

For free air Travel using CC bonus, points, tit bits and 2% cash back

https://youtu.be/hR8ul1CIKVo?si=8wYPRsp8KktxASdV

[st7]

i feel that's a lie. you cyah be real sour for no reason

Feel what u want, bro,

living the life as I no longer have to work.

My rents come in every month plus one Airbnb.

I do multiple sidelines hussle like banknotes, produce & farming (venes)

so why you sour about credit cards, and people with credit cards?

[st7]

I had one mortgage, that's all.

Cash is king

So you taking out mortgage but vex when people take out a credit card?

Lol u is one pathetic old man eh

How old are you now? 55?

A mortgage is an investment on property. Property always appreciates

A CC is not, and interests rates go up while ur pockets are empty

Signup bonuses, cash rebates, travel points, and no counting change at the checkout - why would any fool rely on cash?

Pay your bill in full at the end of the month. Only a sufferer would pay interest on a CC.

U spend a 100k on a CC to get $1000 in points ?

A flash, is nice but over time it catches you.

what do you get in return with cash?

[adnj]

I had one mortgage, that's all.

Cash is king

So you taking out mortgage but vex when people take out a credit card?

Lol u is one pathetic old man eh

How old are you now? 55?

A mortgage is an investment on property. Property always appreciates

A CC is not, and interests rates go up while ur pockets are empty

Signup bonuses, cash rebates, travel points, and no counting change at the checkout - why would any fool rely on cash?

Pay your bill in full at the end of the month. Only a sufferer would pay interest on a CC.

U spend a 100k on a CC to get $1000 in points ?

A flash, is nice but over time it catches you.

How many points do sufferers get with spending cash?

[adnj]

I had one mortgage, that's all.

Cash is king

So you taking out mortgage but vex when people take out a credit card?

Lol u is one pathetic old man eh

How old are you now? 55?

A mortgage is an investment on property. Property always appreciates

A CC is not, and interests rates go up while ur pockets are empty

Signup bonuses, cash rebates, travel points, and no counting change at the checkout - why would any fool rely on cash?

Pay your bill in full at the end of the month. Only a sufferer would pay interest on a CC.

U spend a 100k on a CC to get $1000 in points ?

A flash, is nice but over time it catches you.

what do you get in return with cash?

Coins that they won't spend.

[timelapse]

What you get with a CC is even more inflation, because there is a fee on every transaction ,even more than an ATM card

[mero]

Credit cards have $0.00 charge at merchants unless at another bank ATM alongside 3% cash advance fees.

Debit cards carry a $0.75 charge per transaction so technically u pay more using a debit card

Seeing too much misinformation spreading here. Someone should update page 1 with actual information

[fokhan_96]

Why is this even a discussion?
Why do people bother themselves with what others do ?
Whether someone uses a credit or debit card, how exactly that affecting your life ?

[Dohplaydat]

Why is this even a discussion?
Why do people bother themselves with what others do ?
Whether someone uses a credit or debit card, how exactly that affecting your life ?

Jealousy, crab in a barrel syndrome they need to feel superior

[pugboy]

massive thread derail distraction
something politicians love to do

[paid_influencer]

Why is this even a discussion?
Why do people bother themselves with what others do ?
Whether someone uses a credit or debit card, how exactly that affecting your life ?

Assuming this is a real question, I would say the objections fall into two main camps:

1. Concerns over high levels of indebtedness and the repercussions thereof for island society and the economy.

2. Concerns over the increasing of power of banks and the payment processor to act as monopolistic rent-seekers in the economy.

Those, imo, are valid concerns and this banking industry needs to be way more tightly regulated to protect individuals and the society as a whole. Usury is haram for a reason.

Full disclosure: I am fully onboard with cashless and think should demonetise the $100 bank note immediately. Like right now, before the end of the year.

[paid_influencer]

Credit cards have $0.00 charge at merchants unless at another bank ATM alongside 3% cash advance fees.

Debit cards carry a $0.75 charge per transaction so technically u pay more using a debit card

Seeing too much misinformation spreading here. Someone should update page 1 with actual information

Timelapse is correct tho. What you posted is only half the story.

Debit cards charge both the merchant and the consumer a fixed cost (usually totalling about a dollar per transaction). These can be substantial if we are moving to fully cashless where persons have to make several transactions a day - everything from buying doubles to paying the maxi taxi tout incurs a fee.

Credit cards only charge the merchant, but the charge is based on a percentage of the transaction (usually 3% to 5% depending on the card and the "points"/"cashback" given to the owner). Timelapses postulated that if these 3% to 5% payment fees becomes the norm, prices generally would raise to cover the additional transaction cost and thereby drive inflation.

The bank's merchant agreement specifically says that these fees must never be mentioned anywhere. This sounds anti-competitive because it is -- there is no mechanism to drive those costs down.

The payment processor naturally falls into monopolistic position to extract rents from the economy as a whole. The nature of these hidden agreements restrict competition and entrench the monopoly.

https://www.justice.gov/opa/pr/justice- ... it-markets

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” said Attorney General Merrick B. Garland. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”

Debit transactions are an important and popular part of the U.S. financial system. Millions of Americans prefer or must use debit for online and in-person purchases. Visa dominates debit network markets that facilitate these transactions, charging significant fees and stifling competition in the process. Visa’s systematic efforts to limit competition for debit transactions have resulted in billions of dollars in additional fees imposed on American consumers and businesses and slowed innovation in the debit payments ecosystem. Through this lawsuit, the Justice Department seeks to restore competition to this vital market on behalf of the American public.

“Anticompetitive conduct by corporations like Visa leaves the American people and our entire economy worse off,” said Principal Deputy Associate Attorney General Benjamin C. Mizer. “Today’s action against Visa reminds those who would stifle competition rather than competing on price or investing in innovation that the Justice Department will never hesitate to enforce the law on behalf of the American people.”

“Visa fears competition and innovation, and instead chooses unlawful cooperation and monopolization,” said Principal Deputy Assistant Attorney General Doha Mekki of the Justice Department’s Antitrust Division. “Visa abuses its power over its customers and buys off would-be rivals at the expense of American consumers, merchants, banks, and the competitive process itself. Today’s lawsuit holds Visa accountable for its conduct in a market that forms the backbone of American commerce.”

[hong kong phooey]

Credit cards have $0.00 charge at merchants unless at another bank ATM alongside 3% cash advance fees.

Debit cards carry a $0.75 charge per transaction so technically u pay more using a debit card

Seeing too much misinformation spreading here. Someone should update page 1 with actual information

Timelapse is correct tho. What you posted is only half the story.

Debit cards charge both the merchant and the consumer a fixed cost (usually totalling about a dollar per transaction). These can be substantial if we are moving to fully cashless where persons have to make several transactions a day - everything from buying doubles to paying the maxi taxi tout incurs a fee.

Credit cards only charge the merchant, but the charge is based on a percentage of the transaction (usually 3% to 5% depending on the card and the "points"/"cashback" given to the owner). Timelapses postulated that if these 3% to 5% payment fees becomes the norm, prices generally would raise to cover the additional transaction cost and thereby drive inflation.

The bank's merchant agreement specifically says that these fees must never be mentioned anywhere. This sounds anti-competitive because it is -- there is no mechanism to drive those costs down.

The payment processor with the largest network (VISA) also naturally falls into monopolistic position to extract rents from the economy as a whole. The nature of these hidden agreements restrict competition and entrench the monopoly.

https://www.justice.gov/opa/pr/justice- ... it-markets

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” said Attorney General Merrick B. Garland. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”

Debit transactions are an important and popular part of the U.S. financial system. Millions of Americans prefer or must use debit for online and in-person purchases. Visa dominates debit network markets that facilitate these transactions, charging significant fees and stifling competition in the process. Visa’s systematic efforts to limit competition for debit transactions have resulted in billions of dollars in additional fees imposed on American consumers and businesses and slowed innovation in the debit payments ecosystem. Through this lawsuit, the Justice Department seeks to restore competition to this vital market on behalf of the American public.

“Anticompetitive conduct by corporations like Visa leaves the American people and our entire economy worse off,” said Principal Deputy Associate Attorney General Benjamin C. Mizer. “Today’s action against Visa reminds those who would stifle competition rather than competing on price or investing in innovation that the Justice Department will never hesitate to enforce the law on behalf of the American people.”

“Visa fears competition and innovation, and instead chooses unlawful cooperation and monopolization,” said Principal Deputy Assistant Attorney General Doha Mekki of the Justice Department’s Antitrust Division. “Visa abuses its power over its customers and buys off would-be rivals at the expense of American consumers, merchants, banks, and the competitive process itself. Today’s lawsuit holds Visa accountable for its conduct in a market that forms the backbone of American commerce.”

When i fill at the pump using my republic card i am charged about 3 dollars per transaction

[MaxPower]

Hear na i dunno what the beat up is na.

I now use my CC to buy some gifts for the kids, i got them what they wanted as they did well in school. They will be delighted Xmas morning.

I not even studying points and interest rate and who gaining what off my purchases and payments. I will pay that off when money comes.

The worrying will kill some of allyuh slowly.

[Chimera]

Zoom u don't leave the country at all anymore? Because everything from flights to hotels to rental cars you does need a credit card not so?

[88sins]

Hear na i dunno what the beat up is na.

I now use my CC to buy some gifts for the kids, i got them what they wanted as they did well in school. They will be delighted Xmas morning.

I not even studying points and interest rate and who gaining what off my purchases and payments. I will pay that off when money comes.

The worrying will kill some of allyuh slowly.

well look ting nah, Max buying gifts for people chirren, and going in debt to do it too. good on you boi.

That aside, here's a term you need to get very familiar and comfortable with . It's called financial responsibility. Judging from your post, you lack any of it.

[MaxPower]

well look ting nah, Max buying gifts for people chirren, and going in debt to do it too. good on you boi.

That aside, here's a term you need to get very familiar and comfortable with . It's called financial responsibility. Judging from your post, you lack any of it.

Lol you is a next one toting and assume everyone who have a credit card in forever debt?

Soldier it simple, when i use my CC, when whatever charges come, i pay it off as soon as the app allows me to. I dunno what debt you talking about.

I don’t have a US debit card so I use my CC for convenience, nun wrong with that if you can afford it.

Lol 8 you is a next sufferer here yes…bitter bitter and just watching what everyone else doing and losing sleep over it

You too bold face hoss, to tote over someone who using a credit card, has no issues to pay it off but saying they lack financial responsibility? No wonder you worry so much and let comments here get to you.

Better than that 8, come on, you’re a big ass grown man.

[zoom rader]

Zoom u don't leave the country at all anymore? Because everything from flights to hotels to rental cars you does need a credit card not so?

I do about 3 trips per yr, only use my debit card . I don't own a CC. I limit my use on my local debit card. Cash is king

[zoom rader]

Credit cards have $0.00 charge at merchants unless at another bank ATM alongside 3% cash advance fees.

Debit cards carry a $0.75 charge per transaction so technically u pay more using a debit card

Seeing too much misinformation spreading here. Someone should update page 1 with actual information

Timelapse is correct tho. What you posted is only half the story.

Debit cards charge both the merchant and the consumer a fixed cost (usually totalling about a dollar per transaction). These can be substantial if we are moving to fully cashless where persons have to make several transactions a day - everything from buying doubles to paying the maxi taxi tout incurs a fee.

Credit cards only charge the merchant, but the charge is based on a percentage of the transaction (usually 3% to 5% depending on the card and the "points"/"cashback" given to the owner). Timelapses postulated that if these 3% to 5% payment fees becomes the norm, prices generally would raise to cover the additional transaction cost and thereby drive inflation.

The bank's merchant agreement specifically says that these fees must never be mentioned anywhere. This sounds anti-competitive because it is -- there is no mechanism to drive those costs down.

The payment processor with the largest network (VISA) also naturally falls into monopolistic position to extract rents from the economy as a whole. The nature of these hidden agreements restrict competition and entrench the monopoly.

https://www.justice.gov/opa/pr/justice- ... it-markets

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” said Attorney General Merrick B. Garland. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”

Debit transactions are an important and popular part of the U.S. financial system. Millions of Americans prefer or must use debit for online and in-person purchases. Visa dominates debit network markets that facilitate these transactions, charging significant fees and stifling competition in the process. Visa’s systematic efforts to limit competition for debit transactions have resulted in billions of dollars in additional fees imposed on American consumers and businesses and slowed innovation in the debit payments ecosystem. Through this lawsuit, the Justice Department seeks to restore competition to this vital market on behalf of the American public.

“Anticompetitive conduct by corporations like Visa leaves the American people and our entire economy worse off,” said Principal Deputy Associate Attorney General Benjamin C. Mizer. “Today’s action against Visa reminds those who would stifle competition rather than competing on price or investing in innovation that the Justice Department will never hesitate to enforce the law on behalf of the American people.”

“Visa fears competition and innovation, and instead chooses unlawful cooperation and monopolization,” said Principal Deputy Assistant Attorney General Doha Mekki of the Justice Department’s Antitrust Division. “Visa abuses its power over its customers and buys off would-be rivals at the expense of American consumers, merchants, banks, and the competitive process itself. Today’s lawsuit holds Visa accountable for its conduct in a market that forms the backbone of American commerce.”

When i fill at the pump using my republic card i am charged about 3 dollars per transaction

Cash is king

[MaxPower]

Zoom u don't leave the country at all anymore? Because everything from flights to hotels to rental cars you does need a credit card not so?

I do about 3 trips per yr, only use my debit card . I don't own a CC. I limit my use on my local debit card. Cash is king

Z,

3 trips a year going where? To quarrel?

Enjoy youself na, you cannot be frothing up when you hearing credit cards swiping off from a side when u in dollar tree line.

[adnj]

Zoom u don't leave the country at all anymore? Because everything from flights to hotels to rental cars you does need a credit card not so?

I do about 3 trips per yr, only use my debit card . I don't own a CC. I limit my use on my local debit card. Cash is king

What's your credit score, Lil Z? Anyone with online banking can set their monthly credit card payment to "statement balance."

Sufferers can't seem to fight the need to spend what they don't have.

Keep trying to prove that your lifestyle is worth aspiring to. It's working on me. /s

[zoom rader]

Zoom u don't leave the country at all anymore? Because everything from flights to hotels to rental cars you does need a credit card not so?

I do about 3 trips per yr, only use my debit card . I don't own a CC. I limit my use on my local debit card. Cash is king

What's your credit score, Lil Z? Anyone with online banking can set their monthly credit card payment to "statement balance."

Sufferers can't seem to fight the need to spend what they don't have.

Keep trying to prove that your lifestyle is worth aspiring to. It's working on me. /s

Never looked in or bothered about credit scores cause I don't need one.

When I got my mortgage, they did a manual assessment on me cause I never took a loan in my life.

[zoom rader]

Zoom u don't leave the country at all anymore? Because everything from flights to hotels to rental cars you does need a credit card not so?

I do about 3 trips per yr, only use my debit card . I don't own a CC. I limit my use on my local debit card. Cash is king

Z,

3 trips a year going where? To quarrel?

Enjoy youself na, you cannot be frothing up when you hearing credit cards swiping off from a side when u in dollar tree line.

This year, I was in Switzerland, Brazil , and Grenada.

[MaxPower]

This year, I was in Switzerland, Brazil , and Grenada.

Or ok

[mero]

Credit cards have $0.00 charge at merchants unless at another bank ATM alongside 3% cash advance fees.

Debit cards carry a $0.75 charge per transaction so technically u pay more using a debit card

Seeing too much misinformation spreading here. Someone should update page 1 with actual information

Timelapse is correct tho. What you posted is only half the story.

Debit cards charge both the merchant and the consumer a fixed cost (usually totalling about a dollar per transaction). These can be substantial if we are moving to fully cashless where persons have to make several transactions a day - everything from buying doubles to paying the maxi taxi tout incurs a fee.

Credit cards only charge the merchant, but the charge is based on a percentage of the transaction (usually 3% to 5% depending on the card and the "points"/"cashback" given to the owner). Timelapses postulated that if these 3% to 5% payment fees becomes the norm, prices generally would raise to cover the additional transaction cost and thereby drive inflation.

The bank's merchant agreement specifically says that these fees must never be mentioned anywhere. This sounds anti-competitive because it is -- there is no mechanism to drive those costs down.

The payment processor naturally falls into monopolistic position to extract rents from the economy as a whole. The nature of these hidden agreements restrict competition and entrench the monopoly.

https://www.justice.gov/opa/pr/justice- ... it-markets

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” said Attorney General Merrick B. Garland. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”

Debit transactions are an important and popular part of the U.S. financial system. Millions of Americans prefer or must use debit for online and in-person purchases. Visa dominates debit network markets that facilitate these transactions, charging significant fees and stifling competition in the process. Visa’s systematic efforts to limit competition for debit transactions have resulted in billions of dollars in additional fees imposed on American consumers and businesses and slowed innovation in the debit payments ecosystem. Through this lawsuit, the Justice Department seeks to restore competition to this vital market on behalf of the American public.

“Anticompetitive conduct by corporations like Visa leaves the American people and our entire economy worse off,” said Principal Deputy Associate Attorney General Benjamin C. Mizer. “Today’s action against Visa reminds those who would stifle competition rather than competing on price or investing in innovation that the Justice Department will never hesitate to enforce the law on behalf of the American people.”

“Visa fears competition and innovation, and instead chooses unlawful cooperation and monopolization,” said Principal Deputy Assistant Attorney General Doha Mekki of the Justice Department’s Antitrust Division. “Visa abuses its power over its customers and buys off would-be rivals at the expense of American consumers, merchants, banks, and the competitive process itself. Today’s lawsuit holds Visa accountable for its conduct in a market that forms the backbone of American commerce.”

Cool story, tl;dr but this bares no relevance or significance to my post. From a CONSUMER standpoint u pay 75 cents per debit card and pay nothing using your credit card and is that.

[st7]

Zoom u don't leave the country at all anymore? Because everything from flights to hotels to rental cars you does need a credit card not so?

I do about 3 trips per yr, only use my debit card . I don't own a CC. I limit my use on my local debit card. Cash is king

Z,

3 trips a year going where? To quarrel?

Enjoy youself na, you cannot be frothing up when you hearing credit cards swiping off from a side when u in dollar tree line.

This year, I was in Switzerland, Brazil , and Grenada.

how you purchase them plane tickets? definitely couldn't purchase directly from the airline website so i imagine you had to go to a travel agency and paid, what, 30-40% extra? exorbitantly more than the $150 TTD for a yearly credit card fee.

cash is king.

[adnj]

Everyone on tuner pays interest and an annual fee for a credit card?

Asking for a friend.

[zoom rader]

Credit cards have $0.00 charge at merchants unless at another bank ATM alongside 3% cash advance fees.

Debit cards carry a $0.75 charge per transaction so technically u pay more using a debit card

Seeing too much misinformation spreading here. Someone should update page 1 with actual information

Timelapse is correct tho. What you posted is only half the story.

Debit cards charge both the merchant and the consumer a fixed cost (usually totalling about a dollar per transaction). These can be substantial if we are moving to fully cashless where persons have to make several transactions a day - everything from buying doubles to paying the maxi taxi tout incurs a fee.

Credit cards only charge the merchant, but the charge is based on a percentage of the transaction (usually 3% to 5% depending on the card and the "points"/"cashback" given to the owner). Timelapses postulated that if these 3% to 5% payment fees becomes the norm, prices generally would raise to cover the additional transaction cost and thereby drive inflation.

The bank's merchant agreement specifically says that these fees must never be mentioned anywhere. This sounds anti-competitive because it is -- there is no mechanism to drive those costs down.

The payment processor naturally falls into monopolistic position to extract rents from the economy as a whole. The nature of these hidden agreements restrict competition and entrench the monopoly.

https://www.justice.gov/opa/pr/justice- ... it-markets

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” said Attorney General Merrick B. Garland. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”

Debit transactions are an important and popular part of the U.S. financial system. Millions of Americans prefer or must use debit for online and in-person purchases. Visa dominates debit network markets that facilitate these transactions, charging significant fees and stifling competition in the process. Visa’s systematic efforts to limit competition for debit transactions have resulted in billions of dollars in additional fees imposed on American consumers and businesses and slowed innovation in the debit payments ecosystem. Through this lawsuit, the Justice Department seeks to restore competition to this vital market on behalf of the American public.

“Anticompetitive conduct by corporations like Visa leaves the American people and our entire economy worse off,” said Principal Deputy Associate Attorney General Benjamin C. Mizer. “Today’s action against Visa reminds those who would stifle competition rather than competing on price or investing in innovation that the Justice Department will never hesitate to enforce the law on behalf of the American people.”

“Visa fears competition and innovation, and instead chooses unlawful cooperation and monopolization,” said Principal Deputy Assistant Attorney General Doha Mekki of the Justice Department’s Antitrust Division. “Visa abuses its power over its customers and buys off would-be rivals at the expense of American consumers, merchants, banks, and the competitive process itself. Today’s lawsuit holds Visa accountable for its conduct in a market that forms the backbone of American commerce.”

Cool story, tl;dr but this bares no relevance or significance to my post. From a CONSUMER standpoint u pay 75 cents per debit card and pay nothing using your credit card and is that.

I pay Zero using cash


Banks minds games is to get you to use CC to eventually get you hooked in the debt trap.

World reports show that 74% of ppl eventually get trapped using CC. These are the same ppl that say they pay off their CC in full at the month. Yes sure they pay it in the first year, but over time, they get caught.

[zoom rader]

Zoom u don't leave the country at all anymore? Because everything from flights to hotels to rental cars you does need a credit card not so?

I do about 3 trips per yr, only use my debit card . I don't own a CC. I limit my use on my local debit card. Cash is king

Z,

3 trips a year going where? To quarrel?

Enjoy youself na, you cannot be frothing up when you hearing credit cards swiping off from a side when u in dollar tree line.

This year, I was in Switzerland, Brazil , and Grenada.

how you purchase them plane tickets? definitely couldn't purchase directly from the airline website so i imagine you had to go to a travel agency and paid, what, 30-40% extra? exorbitantly more than the $150 TTD for a yearly credit card fee.

cash is king.

I use my UK debit cards.