Debit cards are hidden financial infrastructure

Re:Debit cards are hidden financial infrastructure by GordonS on Saturday November 13, 2021 @09:55AM (#29210159)

This is what I do as well. Monthly bills are all direct debit, but almost all other spending goes on my credit card, and, without exception, I paying it off completely at the end of the month. I've done this for decades, and never paid a penny in interest - the key is to not spend money you don't have.

I get some small amount of Amazon vouchers every month for doing this (£10/m or something like that), but really I do this for the fraud and chargeback protection.

I feel like this works well for us, but you have to be able to budget - if you're not capable of budgeting or find credit too alluring, then you're better off using a debit card.

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Re:Debit cards are hidden financial infrastructure by simonbarker87 on Saturday November 13, 2021 @10:16AM (#29210300)

Glad it works for you, we are very good at budgeting but i find u less you put 100% of the “cash” like spending on the credit card it falls apart as you can double spend without realising and when we tried it for a few months I hated paying for August’s groceries in mid October - it just felt weird to me, far easier just to have a set XX amount in a current account each month and spend it down to 0 through the month on the cash transactions etc.

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Re:Debit cards are hidden financial infrastructure by astura on Saturday November 13, 2021 @02:15PM (#29212404)

You can (and probably should) reconcile your credit card purchases more than monthly - I used to do it weekly (every Friday) now it's semimonthly.

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Re:Debit cards are hidden financial infrastructure by drdec on Saturday November 13, 2021 @11:08AM (#29210733)

With online account availability I've moved to paying my credit card weekly. I pay for everything with it.

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