Ashenox t1_ir6oyci wrote on October 5, 2022 at 6:56 PM

Reply to comment by cadencecarlson in Canadian businesses can charge credit card fees starting Oct. 6 by matteoscavo

Easy solution don't use Credit cards for everything you buy. They aren't meant to be your main purchasing method. That's how you debt trap yourself.

MostlyPseudonymous t1_ir758lt wrote on October 5, 2022 at 8:38 PM

Nonsense, it used to be a life hack as long as you're not a financial incompetent.

blentz499 t1_ir7abdm wrote on October 5, 2022 at 9:11 PM

100% agree. Don't spend beyond your means. My main credit card pays all my bills, groceries and gas during a month. It's how I got an excellent credit score.

I have a second credit card that I make big purchases like electronics and furniture and I can usually pay that off quick.

The people that run into problems are the ones that spend beyond their means and would have issues even if you gave them a million bucks.

A lot of people are just not financially responsible.

I would advise people that are trying to build credit to get a credit card and use it only for gas and food. That's it. No big purchases or anything crazy. And make sure you pay it off ASAP. In a few years time, your credit will rise significantly.

cadencecarlson t1_ir6pb9p wrote on October 5, 2022 at 6:58 PM

I agree most ppl get themselves into trouble. I just like the points and rewards.

Aleashed t1_ir73in7 wrote on October 5, 2022 at 8:27 PM

To be fair, you’ll be charged fees too for debit. It’s still a transaction that must be processed.

reddditttt12345678 t1_ir7ezut wrote on October 5, 2022 at 9:43 PM

The fees are much lower, though.

Accordingly, you also don't get benefits like extended warranty, insurance, and price protection.

The banks say you're protected against fraud, but in reality they just tell you to pound sand if you make a claim. Their policy is literally "Your PIN was used and they got it right the first try. Therefore it was you." No, dipshit, it's called skimming/cameras/etc. Or maybe they drugged you up and beat the PIN out of you, who knows.

Whereas the CC networks usually have no problem doing chargebacks, because it's no skin off their back -- they even get to charge the merchant a fee each time, plus they'll jack up the transaction fee after too many strikes.

kuriboharmy t1_ir6w90r wrote on October 5, 2022 at 7:42 PM

I use it because I get a little back when using it and carrying a lot of cash is a bad idea and change is a pain in the ass to deal with. I always immediately transfer money to pay off using my card every time.