Are credit cards basically not a thing outside the USA?

pay for everything on credit

"wtf, why am I in so much debt even though I make a trillion dollars a year"

are Americans actually retarded

been using credit card only for about 10 years now.

only morons carry debt on their credit cards

no, i use a debit card

fair point, anon
i might get one then, wonder what the lowest limit is

numbers must go up, anon

christmas

cant believe its in exactly 1 month

You only get in debt if you don't pay it back at the end of the month.
Poor pay pigs are paying for my goy buck rewards. Thank you poors

I had a credit card before and I used it to buy a couple of things maybe 10 years ago. I don't even know how credit score works because the only loan I've ever taken was a mortgage for my house that I pay every month and for stuff like car insurance I just pay the full amount for the year in cash. The only thing I have on credit is my house.

seems like credit cards outside of the USA have lower interest rates BUT have virtually no rewards, is this accurate?

so the only real value it has is delaying when you need to pay for a purchase, which incentivizes debt (since there's lower reward for good behavior). I can see why non-Americans hate them.

Government protection (keeping APR low on credit cards) actually fucked you guys over and made your credit cards shit.

It's not all that common but I use one, people getting in credit card debt feels like something that should only exist in the past, these days you have phone apps to track just how much you've spent so you shouldn't ever overspend

Uncommon. The only credit cards I ever had in my possession were company credit cards

It’s retarded not to pay for things with a credit card here, there is literally zero cost if you pay your balance every month. Mine pays for a full vacation every year including international first class airfare just from accruing points for using it on everyday bills and purchases. Not sure why that’s such a difficult concept to grasp for some foreigners

I'm with americans here. Debit cards shouldn't be a thing (that's what cash is for) and the APR on credit cards should be 80% at minimum.
Retards who don't control their own money should be perpetually in debt and slaves to the banking system

Not sure why that’s such a difficult concept to grasp for some foreigners

Because it isn't a thing here. We're called Europoors for a reason.

Mine pays for a full vacation every year including international first class airfare just from accruing points for using it on everyday bills and purchases. Not sure why that’s such a difficult concept to grasp for some foreigners

We dont have cashback and incentives because gubberment bans high interest rates on credit card debt.
People who accrue credit card debt and then pay massive interests on it are the ones who pay for your vacation including first class air travel not you

non-americans simply cannot be trusted by their banks, they are thieves, if they are offered even 500 usd they'll immediately run away with it

I do but only use it for protection, I never pay interest

They're popular here since everyone loves to pretend they game more money than they make.
You can get one just with a phone app, or if you're employed the bank will push one down your throat, basically all of them have awful interest.

I get airline points for buying things with my credit card, but most credit cards here don't give any rewards

I have Amex platinum and Chase Sapphire Reserve
Debit is for poor people.

I don't need a credit card because I'm not poor enough to need to buy everyday items on credit.
If I need to make a big purchase like a car or an apartment then my parents simply front me the money.

I have 2 in Spain and had 2 in Argentina as well
In Argentina when you join a company its common for them to offer you a "package" in a bank, that usually includes at least and account and 2 credit cards
In Spain I had the feeling that they're not as imposed... I mean no one is pushing you to get one, you have to get it yourself

Why both they are pretty similar cards

The duality of men

Retards who don't control their own money should be perpetually in debt and slaves to the banking system

Thank you for supporting American culture

I don’t because I have terrible credit, I let some people use my identity for fraud when I was 18/19

we all make mistakes

I just use cash or my bank account for online purchases

in debt

I mean, if you pay the 100% every month (no interests) I wouldn't consider you "in debt"
If you are not, and you're paying interests then you're a brainlet and should not have a credit card

if your spend is high enough why not? you get the signup bonus from both cards.

I wish I could get into churning

What if you get into heckin debt

I swear there's a mind virus in europe that leads to the europoor way, everything is looked at in the worst case scenario rather than what it would be like for (You)

In these threads everyone always likes to pretend they belong to the 2-3% that actually benefit from credit cards because they pay their balance in time.
The reality is that if you can't fork out a couple thousand to buy new furniture or repair the house and need a credit line for that, you're probably poor.
Well-off people utilize credit to make 5k on every 1k of debt, not to buy a new toaster.

I let some people use my identity for fraud when I was 18/19

WTF, why? Did they pay you or something?

I always find the seethe about credit card debt funny because it's completely self inflicted. If you get fucked by credit card debt then it's entirely your fault for letting it build up

t. average retard not understanding that you get rewarded if you pay on time, something a debit card does without rewarding you

True
I was desperate and there were people I used to know at school. I got paid £2000

You pay the balance every month lol

You can do it automatically, and it'll just take it from your bank account. Credit cards are better for security reasons.

Non-Americans, do you have a credit card?

Yes but the one you don't need to pay for.

I think my dad has one.
I personally never bothered to look into those.

I pay literally everything (taht's not services or rent) with my credit cards and I'm not because I "need" it. I think it's a nice tool for my financial order, at the begining of the month I pay all my bills and that's it, I can invest the rest... I don't need to calculate how much I'm going to spend during the month because I'll pay it all together next month
I pay literally 0 interests. When I have to pay expensive things exceptionally I do use my debit card, but rarely

I have a credit card but I don't pay it. Every month I transfer the limit of the card to my regular bank account and then I invest the money in a flexible low risk asset wich gives me a few APY%.
At the end of the month I sell the low risk asset and deposit the money to the credit card.

basically all of them have awful interest.

I either pay mine back right away or have it overpaid in the first place so that I never pay any interest while I collect my good goy points. Got about $400 in cashback right now I think.

So do you have debt on your name nowadays? Are you ever gonna pay it? I mean, if you want to buy a house you may need credit unless you're a richfag

my parents simply front me the money

vgh... the european spirit!

I transfer the limit of the card to my regular bank account

My bank charges you with a quiet high interest rate for that... is it free for you?

putting your debit card details onto online stores

I'm sure it goes away after a certain number of years, knew a guy who got sued by his previous employer (too long and boring to bother with the story) and couldn't even get a cheap phone sim contract since his credit score was so bad

this is not easy to do in the USA, you are describing a practice known as "churning" which is inflating the balance on your credit card as much as possible to get the credit card rewards

the reason this isn't easy is because credit cards charge interchange fees on transactions so anyone that participates in this scheme would be losing money

just so I understand correctly, you are able to purchase this asset on your card, and sell it at the end of the month for more than you bought it for? And there is no risk in this transaction?

If this is the case why would you not be maxxing out your card as much as possible through this method? Why not take out a loan to do this exclusively?

Is this scalable? How much money could you launder through your method

I don’t have any debts but my credit rating is extremely low and I am blacklisted from basically all high street banks so I have to use Monzo which is like a shit online only bank

It's free when I pay back the full amount of money at the end of the month.

I have 2 credit cards and 4 debit cards

I’m only 21 so I guess I have to wait

I am nearly 30 and never had a credit card ever. I refused on principle because the very idea is jewish as hell. If I cant afford it in cash immediately i just won't buy it.

I have recently considered getting one just because its easier to dispute charges with as a way to tell exploitative merchants to fuck off.

My understanding is with credit card if you dispute a charge they pretty much instantly take your side/refund you. Is that actually true?

depends on the card. Amex will take your side in almost every case unless it's obvious fraud.

What he's doing sounds more like a cash advance, and those tend to have low limits and begin accruing interest immediately. There's no reason for the bank to lend you money interest-free when they could invest it themselves for a guaranteed return.

I can transfer the limit on my card to my regular bank account (its just about 5k €) at the start of the month. When the money has arrived to my bank account, I put it in a special savings account of my bank where I earn about 3.5 APY on the the 5k.
At the end of the month I take the money out of my savings account and transfer it back to my credit card so the credit card company doesn't charge me interest.
I repeat this every month so I can earn a few extra bucks every year.

bitcoin is not catching on nigga

Yes most times you get scammed, the credit company refunds you

yea this is a cash advance. what card allows you to do this without paying interest and fees immediately?

do you manage multiple accounts or something

That's why you use credit cards, so some pajeet cant empty your bank account.

I have a credit card I use for purchase protection. It’s paid off in full at the end of each month. Rewards used to be great but have been scaled back since our gay government capped interest rates

Yeah it’s a common practice people do to fill a 1 month saving account and pay back the principal keeps the interest, it’s attempting to short change the credit but it doesn’t work because you get fees for crediting monies

if the bank is shilling it it's not a good idea

Almost all cards in my country won't charge you interest when you pay back the full sum at the end of the month. In principle, I use my credit card as an interest-free loan that I pay back in full every month.

here you need to have a good income/job or like one o two years relation with a bank to get a "entry level" credit card who credit increases over time and how much you use it, i start with 1k and now i have like 4k after like 6 years, classic cia move to fuck thirdies
i think it's the other way around
credit cards are good to buy expensive things at "cash price" if you do your payments at time, because they generally have much less interest rates than stores and sometimes not even interest if you pay at time

Banks shill it to gullible retards, you have nothing to worry of if you understand the credit just means ‘pay all expenses at 25th day of month’

get a credit card

max it out

throw it down the sewer

can't be tracked

free money, banks don't want you to know this

They're 'rare' insofar that most families have one but rarely use it. And most people who do use them, just use them for convenient paying and never make use of the credit part.

i'm aware of the existence but i don't have one and i don't know anyone who has one either. i just do everything with my banking card
but here it has a reputation of being used by retards deeply in dept and get another one to pay off their previous debts. 10/10 very sustainable

How much is that after tax?

It’s a classic lowly gangster move, although you need to steal bank details from your victims

What do you mean by convenient paying? Is there a difference or something?

Yeah, I have 3 accounts

To put it simply, I earn about 5000€ * 0,035 = 175€ per year (not super much). The capital gains tax in my country is 25% but you only have to pay them if you reach a certain treshhold.

Average europoor seethes at credit cards while financing their online purchases(for free) on klarna and shit lmao

If you don't have paypal, its a near universal option to pay for almost anything online and its all transactions in one place so you always know how much you spend. Its also all done in one go at the end of the month, which is more convenient than waiting for your paycheck if you cash is either low or tied up in investments.

germanon, there's a guy on the churning subreddit that made about a million dollars over a decade off doing what you are doing.

he found a credit union in some rural shithole state that allowed deposits using a credit card. These deposits were coded as purchase not cash advance, so he didn't pay any fees. He would make a deposit using his credit card, put it into a savings account, then pay it off each month.

This doesn't really work anymore in the united states but I absolutely believe it's still possible in other less sophisticated countries. if this works for you, you should be maxing out that account every month ofc

keep in mind that using the full balance of your card will sink your credit in the short term but it doesn't matter much

Sapphire you get free hotel upgrades with hilton

Also most credit cards, at least here, allow you to change the amount you pay back each month whenever you want. So you can, if really necessary, pay back a little less in one month if you are hit by a unexpected expense.

allow you to change the amount you pay back each month whenever you want

sounds like the average loan service here

My bank offers a free "credit card".
It works like a credit card(Mastercard) for online purchases but is not actually a credit card since it just charges my bank account when I buy something.

These so-called "debit cards" have been weirdly pushed a lot recently. My bank all but tried to force me to use one.

That's why you go with a bank that protects you form shit like that.

That is a debit card

its a debit card that helps build credit basically. so totally worthless

Are credit cards basically not a thing outside the USA?

Every adult has credit card, dumbass

I use credit cards for online shopping or when going abroad. The fees are way to high to do shopping with them in stores.

what kind of debit card builds credit lol

the kind that the austrian has. it uses the credit card network but works like a debit card.

Not being forced to buy stuff you didn't want isn't getting fucked. You think the "rewards" you get is free stuff but it's not. You're buying them without having a choice about it. The credit card companies take that money from the stores and the stores increase prices to cover it so you're forced to pay it. You're the ones who got fucked.

Here you don't get rewards and the companies don't take money for that from the stores who then don't put it on the prices and we don't end up paying them. We didn't get fucked.

not quite. it's actually the poorfags that pay credit card debt that are paying for it lol.

it's a wealth transfer system from the retarded to the normal

guy on the churning subreddit that made about a million dollars over a decade off doing what you are doing

Wow, congrats to that guy. But this woulnd't be possible for me because the limit of my card is low and it's hard to get a higher limit approved unless you have a well paying job.

How the hell do you build credit by spending your own unborrowed money?

these starter credit/debit card hybrids are basically for total retards that can't be trusted with actual credit.

they do credit reporting like a normal credit card so you can establish a credit score, but don't offer you any credit

the credit card company recieves the purchase price of the item from the store and the store gives you the item

the store not only loses their item but also has to pay for it

Are you retarded?

America is a nation of debt and debtors. Always has been, and likely always will be. Every aspect of society is tailored to feed into it.