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Old 2 December 2022, 12:12 AM   #53
Star Ferry
Banned
 
Join Date: Aug 2015
Location: down by the river
Posts: 4,926
Quote:
Originally Posted by BroncoOne View Post
Correct. If you get defrauded with a compromised credit card, your maximum exposure is $50..

If your debit card is compromised, your maximum exposure is every dollar in your account, plus any available overdraft credit, plus fees. Then you have to become the FBI to try to prove that your former money is yours. Good luck. It’s why I never have a debit card.

Also, as has been noted, the discounts, cash back, free airline miles and other perks of a credit card with a low or no annual fee are free. Just pay it off every month.
I agree there is nothing wrong with credit cards. I always pay cash at restaurants or for tips, and that’s just to save myself time and to take care of people who are taking care of me. But otherwise, most expenses should go on a credit card.

The best reason I can think of for not using a credit card would be someone who’s had past difficulties with overspending. In that case, it’s less about the math and more about imposing self discipline
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