1. They are not compatible with each other
Guy 1 uses Cash App. Guy 2 uses Venmo and owes Guy 1 $50. Guy 2 now has to download Cash app,create an account that requires personal info and then link up his card. Based Cash Chad would simply open his wallet and hand Guy 1 $50
2. They make you more reliant on the internet.
The Minimalist Hipster who refuses to carry any item besides his iPhone cannot pay for his Starbucks coffee without an internet connection.If his iPhone has no mobile service he has to connect to insecure public WiFi. Based Cash Chad doesn't have these problems because he would never step foot in a Starbucks and also because cash needs no internet to work.
3. They are not private.
Based Cash Chad buys all his illegal goods with hard to trace cash. You cannot do that with Venmo or Paypal or Apple Pay or whatever other shit these people like to use. All these services give companies and governments more control. And don't you dare say cryptocurrency because they are not private either.
What the frick is cash app? Wasn't PayPal the gold standard of payment apps for like a long time?
Americans are so cucked they can’t make free bank transfers from their bank apps like a normal person. They need 3rd party services for that. What’s even more baffling is that contactless payments are not a standard there yet.
this lol
>Cannot pay for his coffee without internet
Apple pay occurs through NFC bro. I agree tho cash is superior.
Yeah but I don’t give a frick, it’s more convenient.
1. Everything on the internet uses PayPal anyways, and most places support NFC/Apple Pay. The amount of times I have to pay other people or other people have to pay me is exceedingly low.
2. Doesn’t matter, internet is not used anyways.
3. Whatever dude, cryptocurrencies are private but in their current state are being treated like assets which defeats their purpose and makes using them moronic. I know when I’m buying illegal shit and take cash with me. Otherwise I only keep like 50 bucks at most in cash with me.
Dumb poor gay. What do you do when somebody steals your wallet with your REAL money in it?
Checkmate you atheist virgin frick.
I tend to use my debit bankcard, usually with eftpos when out IRL
Why debit?
>Why debit?
No seriously, what advantage does debit have?
Debit don't make you go into debt. You can only use the money you have.
Most sane countries don't have these backwards and punishing laws regarding debit cards that the US has.
still baffles me that there are people who spend more money than they actually have with a credit card, then complain about falling into debt
My man just... not spend more than what you have
It is also easy to forget to pay your credit card if you don't have an automatic payment setup.
If you already have the money, then what's the point of a credit card? I understand the usage in the US because they way the laws and regulations are setup to try make you spend more than you have.
I use a CC, but only because it has better tax benefits.
>Debit don't make you go into debt. You can only use the money you have.
i-is that unusual in america? wtf
In the US credit cards are the norm, since if you get scammed or someone steals your card or card data and use it, then you are only liable for lost money if you use a debit card. For some reason if someone illegally use your credit card you are not liable and will get your money back, and instead the bank or someone else has to suffer the loss.
Probably a law to make sure people always use credit cards and get caught up in the insane interests when they get unlucky or forget to pay it back for whatever reason.
No, it's not credit protection laws, it's just that the credit card model is so fundamentally lucrative. Because for customers in debt they make fortunes on interest and fees and for customers who just pay off their bills reliably, they still pocket their 5% from every single transaction that happens. So their incentive is to maintain customer retention at all costs, which means that even if THEY have to take the loss because they can't track down the scammer, they will to maintain overall customer satisfaction. Which isn't to say it's particularly common for them to have to tank the loss; they are very experienced in tracking down scammers (both those scamming their users and their users trying to scam them). It's what they do.
>they still pocket their 5% from every single transaction that happens.
Wait, US of A cards force you to pay extra for everything you buy?
The 1-5% cashback is an absolute meme then
If you use a credit card to buy something for $100, you go $100 in credit, the store gets $95 and the credit card company pockets their $5. (Obviously it's not always 5%, there are various breakpoints and deals, but usually the number 5% is floated as an industry average). So while you don't directly pay the 5%, you pay for it by the fact that the people you are buying from have to pay the 5% and are just passing on the costs to the customer.
>The 1-5% cashback is an absolute meme then
Well duh. You didn't think that money came from nowhere did you?
This is the reason I really hate the credit card heavy countries. All prices are just inflated, and I have to either help to keep the evil system in place, or pay more / get less back than everyone else.
Our prices are still cheaper than yours, even with the 5% credit card tax.
Thanks for the answer instead of just calling me a israelite.
is right. If you just use a credit card like you do your debit card you will not fall into debt. Only if you are irresponsible will you will rack debt.

Credit cards have far superior fraud protection. When you make a transaction using a credit card, the bank’s money is used and at the end of the month you pay the bank the amount the bank spent for you. However, if fraud occurs and you dispute a charge, your account remains untouched until the dispute is resolved. IT’S ON THE BANK to resolve the dispute because *their* money was spent. If the merchant wants their money, the burden of proof of you really making the transaction is on them. If fraud occurs and the scammer uses your debit card, *your* money is gone, straight from your bank account, and it’s much, much harder to get it back. Credit cards are like the firewalls of payment systems because your money isn’t directly accessible by merchants.
The absolute state of this board’s financial literacy
You need to take some sort of financial literacy class.
>financial literacy class
That sounds very American
And quite israeli, can't bea good thing
Debit makes a lot of sense if you have poor self control.
you should use a credit card for tap&go and for small payments at convenience stores, gas stations, macdonalds etc.
AND YOU SHOULD PAY OFF YOUR CREDIT CARD BILLS EVERY MONTH
credit cards are not using your money and the purchases are effectively insured against theft and fraud. using a debit card leaves you open to being a victim of theft and fraud.
just make sure to pay off your credit card bill and you are better off.
i was an idiot when younger and had tens of thousands of credit card debt, so i don't use it to purchase what i don't have money for. but i use it for daily purchases and pay off the bill. it is safer.
>Applies to US and not most European states
Not every country is exactly like USA.
g
>And don't you dare say cryptocurrency because they are not private either.
what is monero
It's cute that you think that you're playing the system when you're just engaging with it. Every transaction you make on the credit card, the credit card is charging the people you're paying about 5% of the transaction. Which means the product you buy was about 5% more expensive for them to cover that transaction cost. Though you might have had a brief net inflow from those one-time bonuses, over time, statistically, credit card users are paying them back in droves. They wager that that $200 drew you over to them from their competitors, but if it wasn't and it was just a $200 loss on their part, that's fine. They'll make that back from normal transactions in months. If not from you directly, from the statistics of the average person who took that deal. The credit card companies are skimming their percent off of the top of the entire consumer transaction economy. Not that there's anything you can do about it; it's just how the system works. But if you really care about that local business that may or may not survive the next month you might consider paying in cash. Not that there aren't costs associated with handling cash.
I don't care, I'm gonna keep playing the israeli power game with my free cashback that is entirely subsidized by cash-only customers.
The bankers aren't going to keep offering you those deals if you aren't making them back the money. They're bankers. Keeping track of this stuff is what they do. If they keep offering you those deals then it's because you're worth that money because you're earning them more.
I know that, there are enough accounts that don't pays in full every month to keep this scam going.
Costs associated with handling, counting and transporting cash, including expected losses from robbery, employees skimming and accepting counterfeit currency puts the cost of accepting cash well above 5%, it's no wonder many companies used covid as an excuse to go cash-free, it's literally cheaper on their end.
It’s fricking insane how quickly retail has switched from cash to credit while my company still deals with so much printer shit.
Also, that's why the super valuable 5% deals are usually from companies that are partnered with the credit card company (if they aren't the credit card company themselves). Because they're really just waving that fee from themselves or their business partner.
Those are burger problems. In rest of the world you can just send money to IBAN number with your bank app.
>And don't you dare say cryptocurrency because they are not private either.
DeFi fixes this, automatic multi hops on dex (cross-chain)