Why do people use credit cards?

Why use them instead of a debit or cash? Also why is no limit a good thing? Yes I am a mega brainlet

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Because your purchases are protected.
ps American Express is not a credit card

1% cash back

The cash back, building credit and multiple other reasons I'm sure I didn't list.

You're not being a brainlet user, people like to have things they can't actually afford in order to show off etc, stick to debit and cash, it's safer

People with self control who are capable of rational thought get benefits from purchasing with a credit card. For example, I bought concert tickets and the concert ended up being a shit-show; I got my money back after telling my credit card company.

You also get a % back on purchases, usually a low amount but it adds up to a video game or something neat after a few months.

Usually the rule of thumb is, don't be a fucking retard and everything will be okay.

I have a credit card for emergencies. I get paid monthly and one time I ran out of money because of car bullshit. The credit card saved my ass that month.

slightly off topic, what are some good rewards/cash back cards. I do travel once a year if that makes a diff ( did look into amex plat / Chase Sapphire Reserve)

just burger things.... we in Europe dont use credit cards... debit or cash.

We dont loan things like u in America... we pay it all once and have it...

Often times if I want something but don't have the money to buy it right then I put it on my card and then pay if off a little bit at a time. Most cards give you the option to pay as little as $25 a month, meanwhile you get to buy anything you want/need. It's been a real fucking lifesaver for me.

easier then carrying cash with me

1. Establish a credit history. Your credit history will be checked if you ever go seeking a loan for a car/house, want an apartment, or apply for certain jobs. Fair or not, your credit number is being used more and more to determine whether-or-not you are a worthy candidate for (fill in the blank),


2. Fraudulent credit card purchases not made by you will be waived due to legislation. At best you are only responsible for the first 50 dollars, but many CC institutions have been known to not charge CC users anything if someone makes a fraudulent purchase in their name.

3. CC rewards. Many cards offer 1% to 2% cash back. Others have different reward types and tiers.

However, CC's are not magical goody cards and people without willpower can abuse them quickly and get into debt trouble early. Cash and Debit cards do have advantage of forcing people to live only on what they have at the moment.

Trade offs...

>goy points and good goy score
Glad we arent so manipulated in Europe

>Getting 1.5% cash back on all purchases is a bad thing.

Just pay it off every month and don't get charged interest. I keep my cash in the market where it makes me money. I use my credit card so I can buy stuff with someone else's money, get cash back, and pay if off.

Jesus christ, set aside an emergency fund. You will pay interest out the ass if you use credit cards for emergencies

They are basicly free short term loans if you pay them back before interests kick in. Just don't fall the the credit card debt meme (interest rates are insane).

Points you tard

>cash back
>air miles
>offers/rewards at certain shops
>credit card protection / insurance / Section 75 / chargeback / disputes /etc whatever it's called in your country

To be honest, smart people use credit cards for everything and pay it off immediately.

>tfw bought a £5000 car on credit card, paid off immediately, and earned shitloads of points

Only brainlets get into debt on credit

ITT : brainlets leading brainlets

Surely you have credit score in Yuropoor countries?

I have a £15,000 Amex limit now, which is nice

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>"Oh boy. Can't wait to go into debt buying shit I don't need on credit so I can get free airline miles"
The absolute state of cardies

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Those two are the only reasons I use it for

>Universal 2% discount on items
>Credit allows you to get a mortgage on a house
>A house, even while mortgaged, can allow you to use the house as leverage against loans
>Leveraged loans have much lower interests rates than any other ones

These two attributes directly contribute to your ability to enhance your position in a market. If you want to start a business with someone else's money, you need good credit and, preferably, a house to borrow against.

Not even lying. Over the past 6 years AMEX has paid me over $5200 to use their card. They charge about $625 in annual fees and 0 interest. Pretty good plus if someone gets my card info they won’t clear out my bank and the card company will refund everything

1. Security. If your debit card is stolen, scanned, copied, etc. you have much higher liability for the damages than a credit card which is usually 0 liability if you report it soon enough.

2. Rewards. Typical cash back card gives 1% so everything you buy is 1% cheaper. If you pay your balance in full you pay no interest. So its pretty much free money compared to debit / cash. Other cards can give much higher benefits.

3. IF you keep your total balance a very low percentage of your max it can help your credit, otherwise it doesn't except for building credit history if you have nothing else.

Downsides:

1. It hurts your credit if carry a large % of your max, you carry a balance, or if you miss payments

2. Penalties and fees, interest, yearly fee for some cards

3. People with poor self discipline can spend more money then they have and go into debt.

Amex Platinum, and certain other cards, is amazing if you do a lot of travelling. You have to stump up about $500 a year but in exchange for that you get free travel insurance for every journey and free gold plated health insurance in whatever country you are travelling too, even if you are there for months. Those two things by themselves can make the charge worthwhile. On top of that you also get access to high-end lounges in every major airport in the world, with free food and drink and comfy seating. Taking your family to a lounge for a meal rather than eating in the concourse can save you $30-60 dollars a time, on top of the additional comfort. Then there are the points/airmiles, hotel upgrades, car rental upgrades, access to special events and offers at restaurants, and a couple of gold cards for family members or an additional platinum card plus lounge access card if you front another $150. It's not really a credit card as you have to pay the balance off each month but you should be doing that anyway.

Your country would be full of absolute retards if credit didn’t exist in it.

You’re a faggot, and I’m 90% sure Italy popularized banking & credit during the Renaissance.

Not to mention - Amex has amazing customer service.

Probably the best company I deal with regularly as a customer. Everywhere else has gone down the shitter, but Amex are always solid

I get 2% cash back on mine so I just throw all my expenses on it and pay my bill in full every month to avoid the jew tax.

So when I am diagnosed with terminal cancer I can use my huge credit limit to go out with a bang. Only reason I keep my credit cards. Oh and cash rewards I guess.

yea why would i want to conveniently pay for everything in my life when I could carry around and count out a bunch of lose change like a fucking hobo