5 ms·

Well good for you. Us poors in the US like them for what they’re worth.

by epcoa 5mo ago

tptacek 5mo ago
Like what? That banks will make you instantly whole on card fraud to debit cards, and are legally required to do so? I like that too.
- epcoa 5mo ago
  In addition to nominal fraud prevention (and how is any debit card better) there’s nothing better to claw back transaction fees, so what the fuck am I supposed to do?
  - tptacek 5mo ago
    I'm not saying debit cards are better at fraud prevention and response; I'm saying they're roughly equivalent. The downsides of credit cards are self-evident.
    - epcoa 5mo ago
      So maybe I’m wrong but the belief is that debit card protections are worse than a credit card in the US. I really don’t have the personal time to test this, but I do know that when I dispute on a credit card it is initially removed until proven valid. Again maybe I’m wrong but I don’t agree they are equivalent. It sure fucking feels that way, the money isn’t threatened from my account.
    - criddell 5mo ago
      The downsides aren’t really self-evident to me. I’ve been using credit cards for everything I can for 35 years and I can’t think of any downsides. Even the cards I’ve had that had annual fees I chose to pay that fee because the benefits were worth more than the fee to me. I can think of plenty of times where the upsides of having a credit card were realized though.
      - tptacek 5mo ago
        You don't know anybody in 5-figure+ credit card debt? I know several. I don't know anybody in debit card debt.
        criddell 5mo ago
        No, I don’t know of anybody who has a big credit card debt. I don’t think I’ve ever carried a credit card balance past my payment date. I did have a six-figure debt to a bank and if didn’t make my payments they would take the house from my family! Much higher stakes than any credit card debt I’ve ever had. I do have a debit card though and it’s actually not that different from a credit card. If I spend money not in my account I would get charged a $25 overdraft fee plus interest.
        tptacek 5mo ago
        I think that's weird, because I can count off 6 or 7 just off the top of my head, people I know reasonably well, all of them well-educated, and smarter & better organized than I am. I don't really understand the argument we'd be having here: obviously, empirically, credit card debt is an enormous problem in the United States.
        criddell 5mo ago
        I haven’t really talked about that kind of stuff with people I know. I could be surrounded by people who have big debt and just don’t know. A quick googling says that about half of all credit card holders carry some kind of balance each month, so clearly there must be some people in my orbit not paying it off.
        tptacek 5mo ago
        I'd be one of them, but I can't be, because I don't use credit cards.
        5mo ago

Well good for you. Us poors in the US like them for what they’re worth.

by epcoa 5mo ago

Well good for you. Us poors in the US like them for what they’re worth.

Like what? That banks will make you instantly whole on card fraud to debit cards, and are legally required to do so? I like that too.

epcoa 5mo ago
In addition to nominal fraud prevention (and how is any debit card better) there’s nothing better to claw back transaction fees, so what the fuck am I supposed to do?
- tptacek 5mo ago
  I'm not saying debit cards are better at fraud prevention and response; I'm saying they're roughly equivalent. The downsides of credit cards are self-evident.
  - epcoa 5mo ago
    So maybe I’m wrong but the belief is that debit card protections are worse than a credit card in the US. I really don’t have the personal time to test this, but I do know that when I dispute on a credit card it is initially removed until proven valid. Again maybe I’m wrong but I don’t agree they are equivalent. It sure fucking feels that way, the money isn’t threatened from my account.
  - criddell 5mo ago
    The downsides aren’t really self-evident to me. I’ve been using credit cards for everything I can for 35 years and I can’t think of any downsides. Even the cards I’ve had that had annual fees I chose to pay that fee because the benefits were worth more than the fee to me. I can think of plenty of times where the upsides of having a credit card were realized though.
    - tptacek 5mo ago
      You don't know anybody in 5-figure+ credit card debt? I know several. I don't know anybody in debit card debt.
      - criddell 5mo ago
        No, I don’t know of anybody who has a big credit card debt. I don’t think I’ve ever carried a credit card balance past my payment date. I did have a six-figure debt to a bank and if didn’t make my payments they would take the house from my family! Much higher stakes than any credit card debt I’ve ever had. I do have a debit card though and it’s actually not that different from a credit card. If I spend money not in my account I would get charged a $25 overdraft fee plus interest.
        tptacek 5mo ago
        I think that's weird, because I can count off 6 or 7 just off the top of my head, people I know reasonably well, all of them well-educated, and smarter & better organized than I am. I don't really understand the argument we'd be having here: obviously, empirically, credit card debt is an enormous problem in the United States.
        criddell 5mo ago
        I haven’t really talked about that kind of stuff with people I know. I could be surrounded by people who have big debt and just don’t know. A quick googling says that about half of all credit card holders carry some kind of balance each month, so clearly there must be some people in my orbit not paying it off.
        tptacek 5mo ago
        I'd be one of them, but I can't be, because I don't use credit cards.
        5mo ago