| > Fraud or improper charges are also easily immediately rescinded if using a credit card. I'm not sure how exactly it compares, but every credit card at least in my lifetime in the US has been bound by these same protections. > What kind of cover for fees for international use are you talking about? Sorry, this is more of a tangent that I should have denoted, as it's not specifically related to fraud or consumer rights. At least compared to the major European and Asian countries in which I've traveled or lived in, credit card and bank/debit card offerings in the US are extremely generous in benefits, rewards, fees, etc. I actually still sometimes use my US card in a European country because my US bank offers lower fees than my domestic bank (in the home country) for ATMs, currency exchange, card replacements, etc. > Speaking from Australia, we have outstanding customer protection and rights, and no massive hoops or hurdles to go to get it that would be more significant than anything in the US. I'm honestly not sure how this compares to the US or elsewhere as I've never been to Australia. I'm regularly surprised by how inflexible businesses seem in much of continental Europe, however. |
That's true in my experience. It's hard to find a card that doesn't charge ridiculous fees for foreign transactions (even in local currency), for example.
There's the other side of the medal though. Which is that somebody is going to pay for this generosity by the card companies.
Either merchants pay ludicrous fees, which are severely capped in Europe. Or card companies outright rip off the less fortunate members of society by usurious interest rates and fees. Fees, which may be outright criminal[1] if charged in some of the European countries.
[1] That's not hyperbole. For example: Interest rates in Switzerland are capped at 15% annually. If you charge more than that for a loan it's usury, which is part of the criminal code.