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Do you use a credit card? Why or why not? (discuss.tchncs.de)

submitted 2 years ago* (last edited 2 years ago) by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml

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I know this might just reflect financial culture differences across countries, but let's give it a try

Edit: as a clarification, I meant credit card compared to debit, not to cash

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[–] vita_man@lemmy.world 35 points 2 years ago* (last edited 2 years ago) (3 children)

I live in the US. I use a credit card for all my purchases because not only does it shift liability from my money to the bank's money, it also pays me a % in the form of cash back and I pay it off in full every month to avoid any interest charges. It's extremely important that my credit card balance is never higher than my checking and savings combined to ensure I really can pay it off in full.

[–] EddieTee77@lemdro.id 9 points 2 years ago

This is exactly my use case. Get free rewards but treat it like a debit card. Don't spend more than you couldn't pay back by the end of the month and you get free perks like cash back or airline points for travel.

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