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by unmole 1098 days ago
Right, because people don't use credit cards for the additional protection, points or miles. It's because they are all borrowing money they don't have.

And billionares who borrow money because it's tax efficient must all be secretly broke too. /s
1 comments
Tade0 1098 days ago
> Right, because people don't use credit cards for the additional protection, points or miles.

I actually don't know, because I'm not American. Over here just having a credit card draws questions about one's financial stability and responsibility.

At the end of the day it's really not your money you're spending like that. I mean - it's in the name even. You'll have to pay it back eventually.

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unmole 1098 days ago
> actually don't know, because I'm not American.

Neither am I.

> At the end of the day it's really not your money you're spending like that. I mean - it's in the name even. You'll have to pay it back eventually.

Eventually in this case is in less than 50 days. In the 15 or so years that I've been using credit cards, I have never once failed to pay off the bill in full before the due date. And the miles and points I've accrued have saved me significant amount of money.

> Over here just having a credit card draws questions about one's financial stability and responsibility.

I am really curious to know where in the world that is. Even if that is the general perception, it is unlikely to be actually true. Even in Germany, the rich use credit cards at a higher rate than the poor. That is a pattern you'll see replicated the world over. Getting approved for a premium credit card requires one to have a demonstably good income and credit score. So, having such a card is an indicator of strong financial stability and responsibility.

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Tade0 1098 days ago
> In the 15 or so years that I've been using credit cards, I have never once failed to pay off the bill in full before the due date

Yeah, but that's you. People living paycheck to paycheck don't have a realistic chance of achieving the same.

> I am really curious to know where in the world that is. Even if that is the general perception, it is unlikely to be actually true.

Poland. Out of 44mln payment cards issued, less than 5mln are credit cards. This is reflected in statistics:

https://www.theglobaleconomy.com/rankings/people_with_credit...

> So, having such a card is an indicator of strong financial stability and responsibility.

Yeah, such a card, not any card. Over here the most popular type of debt is one taken to purchase consumer goods like appliances and electronics in installments, mortgages are second.

Upper-middle class people and higher just buy things cash. There's no benefit in stretching this out if you can afford not to and any, even accidental, delay might hurt one's credit score - not worth it.

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unmole 1098 days ago
The GP's point was that counting someone using credit cards as living paycheck to paycheck is flawed. Especially moreso in a country that had high credit card penetration.

Your contention might be true in Poland. But that most definitely is not universal.

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