Re:Debit cards are hidden financial infrastructure
by blitzar on Saturday November 13, 2021 @05:11AM
(#29208778)
> Why spend money you don't have?
Classic mistake, using credit or specifically a credit card does not always mean you dont have the money.
> If you do have money, why do you need to borrow money you already have?
Do you have a mortgage? Do you also have any money in a bank account / savings / cash in your wallet? If so "why do you need to borrow money you already have"?
Indeed the mortgage example is even worse, because typically a morgage has interest paid whereas a credit card paid off within the month does not.
Classic mistake, using credit or specifically a credit card does not always mean you dont have the money.
> If you do have money, why do you need to borrow money you already have?
Do you have a mortgage? Do you also have any money in a bank account / savings / cash in your wallet? If so "why do you need to borrow money you already have"?
Indeed the mortgage example is even worse, because typically a morgage has interest paid whereas a credit card paid off within the month does not.