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Do you use a credit card? Why or why not?
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this post was submitted on 21 Aug 2023
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I never did, because in Europe people don't need to build a credit score, and it is usually advised to only use money you have.
Anecdotal evidence, but the only people I know that use them have a tendency to overspend.
Norwegian here.
People here with shitty economic sense overspend using them and end up in debt. People with good economic sense use them for most of their transactions to get cashback/other benefits like bonus flights, etc. Some credit issuers also negotiate good deals with shops where you get the reduced price if you pay with their card.
We also use them for better fraud protection (liability shifts to the bank) and we usually get travelers insurance from the card issuer if more than half the price of the trip is payed with their credit card.
Interesting. So among people you know, most of the people would use credit cards rather than debit?
In my circle yes. Mid 30s to mid 40s. Well educated.
Argentinian here, and same.
I just feel comfortable spending with the money that I have, and forgetting about it.
Where in Europe, if you don't mind me asking?
I'm in the UK, and we have to build a credit score if we want to get a mortgage, a loan, or any sort of finance, unless it's from somewhere predatory like a payday lender.
Spain. Interesting, I didn't know you had credit scores in the UK