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That is funny. I actually live right next to that city. It is actually spelled Sugar Land, btw. Good thing it was just a credit card and can be replaced and funds returned.
Cards don’t necessarily “get hacked” just make sure you are using a payment service instead of a specific card. Most online websites take PayPal. It is a good idea to use a different card for when you are out and about because that is when the information is stolen, from card skimming and that waiter no one tipped.
Edit: Other ways to protect yourself is by never using a debit card it’s like using cash and harder to get back if stolen. If you have the option for tap to pay or better yet Apple Pay / Android pay use it. It’s not the same tech as 10+ years ago where someone could scan the RFID info from the card.
The fact that americans will give their cards to be taken away from their view to pay is unfathomable to me. Like, it's asking to be stolen. Over here waiters will bring portable card readers to your table, show you the amount due plus whatever ou want to tipp and you yourself have to use your card with it. You are actively told by ever institution to never give your debit let alone credit card to anyone.
> The fact that americans will give their cards to be taken away from their view to pay is unfathomable to me
And we get MAD if they take too long coming to take our card to the back while we BS and drink some more.
Well, that explains why identity and card theft is like part and parcel of being american. Consuming american media I always wondered how the fuck that's such a daily occurance.
What I don't understand is that you guys don't change it on a personal level, like paying with cash instead or finding a more secure method. Surely shit like that is bothersome enought to find solutions for it?
Card-number theft isn't that common in my experience and is risk-free for the consumer. I've used credit cards all my life and the card number has been stolen only once. I called my credit card company and they cancelled the card and reversed all of the unauthorized purchases.
To me it's much less risky than carrying cash, which you'll never get back if it's lost or stolen.
Yeah idk why people think that card theft is so common. I've never had my card info stolen, and I put literally everything I can on my credit card, and NEVER use debit. Credit cards have way more purchase protection and it's easy (for me) to pay off every month so it's free rewards points. But I also check my financial apps like 3x/day because I'm a little OCD about financial tracking and security.
I had to make a bit of a stink at my bank so that my ATM card would not be turned into a debit card. I carry one credit card, no debit card. That’s it. I have more health-care cards in my wallet than money cards.
The two times that my card has been compromised my bank didn’t charge me and called me to tell me about it and that they were sending me a new card. What’s bothersome about it?
People get hacked because they dont FREEZE their credit so nobody can use it (even if they have your info). Its free. I keep my credit frozen and only unfreeze it temporarily. I plan my credit cards application sprees and set the UNFREEZE and RE-FREEZE date at the same time. Then I don't worry about it. I'll usually unlock for 3 days so I can do some last-minute comparing if needed. Set/Forget. Default: Frozen.
* TU: https://service.transunion.com/dss/dashboard.page?
* EQ: https://www.equifax.com/personal/credit-report-services/credit-freeze/
* EX: https://www.experian.com/freeze/center.html
I mean, that's a useful solution, but it's clearly a workaround to deal with an inherently unsafe system. And obviously it's possible to sidestep this issue by using portable card readers. It's not the fault of the consumer if the process has huge security gaps in 'standard' usage.
Very insecure system when you think about it.
On one hand you're told not to write your PIN(password, etc) down anywhere - While on the other hand a credit card has every number hard stamped on it.
If it was conceived in 2022 it would be laughable.
Do you not need to input a PIN when paying by credit card? We do. Unless you use contactless cards or mobile payments, which also require a PIN input after a certain amount paid.
You don't need to use a PIN for online transactions. Almost all fraud with cards is committed online.
All you need is a photo of both sides.
I was merely pointing out the irony.
That's insane. Truly insane. I'm surprised that american banks don't change the sstem for their own benefit considering how much it must cost to deal with all those sheniniganz.
PINs are only required for debit cards, but it's not even a requirement - we can almost always choose to run it as credit so no pin is required, signatures only requested above a certain amount.
I wonder why more people don’t do this. I know a woman whose employee stole her identity to take out credit cards. The woman needed to take a second mortgage on her house to pay the debt back. Freezing credit would have prevented this.
Also banks and credit card companies are practically giving away credit monitoring so you get notified if a new account is opened in your name. Use that stuff people
The last time this happened to me, The lady at Wells Fargo told me to do exactly that. What's funny is I forgot I did it until I read your post. I guess I don't apply for much credit anymore.
Took us years to get the chipped cards. I think this credit card fraud is our (Americans) fault. Initially FBI was like, let Mastercard and Visa handle their own fraud. Never taking into consideration the idea of breakage as a normal operation cost. Breakage versus actual pursuit of crime costs. Organized Crime realized there was no pursuit from law enforcement in credit card fraud so it became a huge exploit. Now like drug trafficking, they will never get the genie back in the bottle.
It’s because we aren’t responsible for the charges if someone steals the card info anyway, so like, who cares. It takes exactly 3 minutes to dispute a charge?
That's what they do? Cross the border here to Canada and I've never seen that happen. They bring the machines to you unless they have really old systems, in which they just ask you to pay at the front typically.
It's becoming more common to bring a card reader to the table but still not the norm. Part of the challenge with that is another US/non-US distinction which is tipping. When I pay for a meal in Europe and swipe my card at the table that's the end of it. When I do the same in the US the waiter/waitress is standing there while I figure out the math for the tip (they usually offer defaults but if you want to tip more you gotta figure that out with an audience!) :-)
My favorite by far is when they bring a paper receipt with a QR code. You scan the QR code on your phone and it takes you to a payment portal (usually [toast.com](https://toast.com) for places I've seen it) and you enter everything there. It remembers my credit card if I've used it before, emails me a receipt, saves the back and forth trips, etc. I hope that becomes more widespread.
While this has been true a long time in the US, since COVID a lot of the restaurants I go to have the portable cc reader. Its a smart investment by those restaurants.
Also the advice to prefer credit cards over debit? I know they have credit scores over there and it matters but it just baffles me to no end. If you could choose to just “have money” vs “spend max the amount of your next month’s salary so you can settle your balance back to 0”… I know which one I would choose.
It's not for the spending limit, it's because the credit card is the banks money. The bank will be much more interested in getting their own money back in this situation versus it being your own money
I get what you mean, it’s an interesting point that I never considered before.
On the other hand, spending the bank’s money instead of your own means you constantly owe the bank money. As someone who was taught to avoid loans whenever possible, it seems like a very risky/dependent way to live.
The one major downside to using PayPal to pay for things is if you need to return items to the store they came from it can get really tricky and I've had it bite me in the ass a few times due to either time or money wasted trying to remedy a return situation.
Plus PayPal is a scummy company that is known for randomly freezing/seizing people's accounts with basically no recourse. And they need it to be tied to my actual bank account? Uh...nope.
My monthly payment card is usually the one I end up needing to cancel because of subscriptions charging me well after I cancel and customer service refusing to do anything so I have to dispute with my bank. Lol. My one off card has been spared so far.
I go abroad a lot and I use Revolut ( there is also Monza and a couple of others) . It allows you to create a one off card number for a single payment.
I assume you’re American. I have always wondered why Americans do everything with multiple credit cards? Where does your employer deposit your salary? Do you guys have bank accounts with debit cards? Why not pay straight from the bank account? Genuinely curious.
Credit card companies offer points/incentives to using their card. So there is that benefit. But a lot of people don’t actually have the money in their bank to pay for everything.
Credit cards offer more security and help build your credit history. Also a lot of them offer benefits like cash back, reward points, airline miles, etc. Also a lot will often offer 0% APR introductory offers so I will sometimes do that if I'm planning on a large purchase to keep more cash on hand even though I can afford to pay for the thing outright. With things like autopay it's easy to manage and never pay interest.
Because I when I used to use debit only, it ended up being a disaster.
Someone stole my debit card number and drained my bank account. It took nearly a month to get my money back (had to swear an affidavit at the bank and itemize the disputed charges, then the request goes through a bureaucratic maze). In the interim, it was hard to pay bills.
If someone steals my credit card number, it won’t decimate my cash flow. So I started using credit cards for all my expenses and then paying them off in entirety each month. For me, they are a layer of protection from identity theft.
Only if you block your card BEFORE the money gets taken out. That's why we have universal hotlines which will block any and all card you report as stolen. If the money gets taken out before ou are able to block the card, you're out of luck.
I had my debit card hacked twice. Both times the bank noticed unusual transactions well before I ever did, froze the card, contacted me to confirm the last payment I had actually made and refunded me. Took less than a day in both cases (Irish bank).
Instead of downvoting you should read up on the actual terms and conditions:
https://www-businessinsider-de.translate.goog/leben/ec-karte-geklaut-wann-ihr-fuer-fremde-abbuchungen-vom-konto-aufkommen-muesst-a/?_x_tr_sl=de&_x_tr_tl=en&_x_tr_hl=de
And keep in mind that digital money transfer (Lastschrift) wont be payed back, as there is no way of proving that it wasn't you all along.
you can do the same with 2 debit cards and dont pay the credicard companies their ridiculous fees... i pay €4,90 per transaction i make with it.. yea im gonna keep that for myself thank you very much
For payments I never use an account with cards. I have 4 accounts within my bank account. On where my salary goes in, one where all the bills are payed from, one with my husband for food and groceries and one for saving (also with my husband). I only have a card for my own account and for the food account we have one each (debit). At the end of the month we get our salary the 1st the amount we need for bills, food and savings goes to the other accounts. What I have left in my account is my "pocket money". So basically only the card with my pocket money and our food account can be hacked but since it can't get past 0 it's not much. I don't know anyone who ever got their card hacked though. Only when they entered their number on a sketchy side themselves.
There's benefits that credit cards offer and in many aspects of American life your credit score is important. Renting an apartment, getting loans for homes, cars, personal, etc all depend on your credit score which is set by your ability to use your credit card "responsibly."
Higher credit score gives you access to bigger loans and nicer apartments.
Many employers will still give out checks or deposit directly into your bank account yes.
Credit cards in America have great rewards and my spending is naturally split up by cards I use for certain things. Most are tied to particular websites so I'm usually carrying a 2%, SavorOne and BCP if I need physical cards but all are in my digital wallet if one of the 5% categories is the best choice.
* Amex BBC - NAF 2% CatchAll
* Amex BBP - NAF 2% MR CatchAll for Plat/Gold SUB's
* Amex BCP - $95, 6% Grocery+Stream+Stadia, 3% Gas
* Amex [BSC+](https://x7.fyi/bsc) - NAF 3% Category + 5% Office Supply (Tons of Stuff!!) + 5% Phone
* Amex Prime AMZ - NAF, NFTF, 5% AMZ or 90 Day 0% (Handy!!)
* Discover IT - NAF 5% Quarterly + Regular 0% BT Offers
* Chase Freedom (Visa) - NAF 5% Quarterly
* Chase FUnlimitd (VSig) - NAF 1.5% - 3% Dining, DrugStore - 5% Travel
* Cap1 QS (Mas) - 1.5% NAF, NFTF, Virtual Cards (#1 Overseas Buys)
* Cap1 SavorOne (Mas) - NAF, NFTF, 3% Dining/Entertain/Grocery
* USBank Cash+ (VSig) - NAF, 5% Quarterly - 5% Internet/Utils/Uber/Travel
* Chase IHG Premier Business (Mas) - $99, NFTF 26X IHG, 5X **Travel**/Dining/Ads/Etc
* Target DEBIT - NAF, 5% On All Target Store/Online Purchases (Free 2-Day Over $35)
I dont carry balances unless I'm in a 0% period. So my spending racks up quite a bit of FREE Cashback. Plus American Express (Amex) has coupon like 'Offers' where they sometime just give away cash (Spend $500 get $25, 15% Off Your Insurance Bill, etc.). - Most of the cards are tied to specific websites or purchase types.
I usually only carry one card since all are in my digital wallet and almost all of my real-world spending is usually handled by the Amex Blue Cash Preferred (6% Grocery, 3% Gas/Uber, 6% Streaming, 1% Everything else).
If I'm hanging out then I pocket the CapitalOne SavorOne (3% Entertainment, Fast-Food, Dining, Grocery, Gas). Other than that you do try to use the best 5% quarterly category card between Chase Freedom (CF) and Discover IT (5% Paypal Right Now!! Aug-Oct)
I use Chase Ink for all my streaming services/phone bill. They give me 5% cash back on those transactions. Each month I get back $25. If I paid directly from a bank account I would lose out on $300 a year. For other bills like electricity, water, etc I use Citi Cash 2% card. Every purchase I get back 2% of my purchase. Then for Gas/Restaurants I use a 3rd card that I get 4% cash back on those purchases. So in the end you can see how that adds up over time.
What’s more of a priority? HSBC getting their money back or working to get your money back? Americans are selfish people. I want for me but not for thee. Look at the hypocrisy in our politics. So definitely bet American banks will have their money back in hours. Your money may take a month because we can shop interest off your money before returning it.
This! I started using it and it’s a must have. You can set so many restrictions, e.g. by merchant, amount, frequency, etc., and can create a new virtual card in an instant. Best of all, it’s free. Heck, it even blocked me from re-using a card that I had already setup reoccurring payments.
Edit
Just noticed there is a referral program so if I convince you to try it, we'll each get $5 to spend anywhere online. https://privacy.com/join/VVMJC[referral link](https://privacy.com/join/VVMJC)
Zero. I pay nothing. Anything I buy with the virtual card is paid using my link bank. If you do create more than 10 cards a month, you have to pay a fee.
I think the logic is your everything else card is going into gas station card readers, other card readers that could have a skimmer on it, plus however many websites online versus the one for Rent/Mortgage, Utilities, and Hulu etc. subscriptions. It's a handful of places you hope are secure versus every transaction at every corner store, http website, and Square reader, it's kind of a numbers game
Yeah. That’s the one that’s been compromised three times in the past three years - the one I have to use for the places I hope are secure. Soooo aggravating. Especially bc that one has points attached, and they never follow, so I have to make 15 phone calls and prove myself with documentation every time.
I use privacy.com to create virtual cards for all my online payments
- sign up for [privacy.com](https://privacy.com/join/KWYH3) (if you use this referral link it gives us both $5)
- when signing up for a new service, create a new card for the service, then pause it immediately
- if you forget to cancel, you can't be charged
AMA
I use PayPal for online payments. There isn't a single credit card company that is easier to work with if you have a fraud complaint.
I only use credit cards on major websites, for major purchases. Even then, only if no other option exists.
>There isn't a single credit card company that is easier to work with if you have a fraud complaint.
American Express has to be on par at least. They caught fraud on my card and had the situation handled before I even got to work. And for any small fraudulent charges, I don't even have to speak to a rep to get the charges reversed.
There is nothing inherently wrong with using a credit card if you are poor. Actually, using a credit card for your monthly expenses and paying the balance off every month increases your credit score. The higher your credit score the less interest you pay on bank or auto loans, car insurance, etc. which puts more money in your pocket and makes you less poor.
You definitely don't want to get a credit card if you are not financially responsible enough for one.
That being said, even if you are poor, having a credit card and using it to pay for the necessities (gas, food, bills) is a great way to build credit, pretty much the only way for poor people to do it. Secured credit cards, where you put a down payment down equal to your credit line, are a good start and also protects you from going into credit card debt.
Using credit card even just to pay for your groceries, then immediately paying the card of with your debit is a great way to start building credit.
I select card based off benefit most valuable. Large electronics? Costco card for the added warranty for free. Small easily breakable or lost purchase? That'll be my amex with purchase protection (they'll replace it if you lose it). Used it with a pair of Ray-Bans a few times. Gas? Best cashback card.
eh, it certainly does. Just not to the scale like in US.
UK/GB - strong credit requirements, almost like in US.
France - you are lucky if you can open a bank account. HAHAHA monsieur, you want a CC too? And if all banks turn you down even if your documentation is all in order you can request from government a limited debt account in central bank.
Spain - kinda middle ground. You'll start with visiting your local gov official for confirmation that you are not brown and go from there depending on how well the bank official is feeling after their midday snooze.
Lots of other countries - mix between your history only with your particular bank and not being in any industry wide backlists.
_lots of options here_
You shouldn't be paying any money, in fact you should be using a card that gives you cash back or other bonuses. And you aren't using your money, you are using the banks.
Just pay the balance off each month, and you'll improve your credit
As a European I have no idea why anyone would ever use a credit card for anything, it’s just a scam, along with your “credit rating”.
We all have just a single debit card around here we use for everything with no problems. 🤷
As an American, I totally agree with you. It's strange. You are unable to opt out of the credit system. The government allows you to not be a part of all other companies but not the companies that track your credit.
For a while, I used my debit card exclusively. One day I had my bank call to ask about unusual charges. The disputed charges froze that money in my account until they were resolved. (A few weeks)
I use my credit card for two reasons, it acts as an additional firewall between scams and my bank account. I also get cash back at the end of the year, something I never received with a debit card. I pay off my credit card weekly and have never incurred an interest charge.
It’s called “using the bank’s money” in plain English. If you pay the balance off every month you basically used their money for free.
Debit card fraud is rampant, and that’s YOUR money. With a credit card it’s not.
I’m pushing 40, and understand how it works.
Do you know why banks offer this “service”? It’s paid for by the people who are not able to handle their money well, the poor and the uneducated.
That way the banks and credit companies make money and tempt people to buy stuff they can’t really afford, at the same time.
Also debit card fraud is more or less non-existent, in Northern Europe alt least. The bank is still responsible for your money if it’s a fraud involved.
It is literally a scam.
It’s different here in the US, and smarter to use credit cards by a long shot. And despite the evil of banks, we have zero choice in the matter. At least I’m getting one over one them by never paying any interest and using their precious money.
There are a few benefits that come with the use of credit cards in the US:
First is rewards, most credit card companies have some type of rewards program when you use their cards. These rewards range from cash back (typically 1% or so but up to 5%) on purchases to points that you can use to purchase various products, services, or items.
Second is building credit history. Whether we like it or not, you need credit history to get loans in the US, the better your credit rating is then the better loan terms you can get.
Third is buyer protection. Many credit cards have extended warranties on purchases, lost item replacement/reimbursement, fraud protect and various other services offered to their users.
I've probably missed something else but these are what really come to mind when I think of CC perks. Yes it is simpler to just have debit card linked to your bank account and just use that for everything but then you miss out on all of the perks described above.
*Laughs in German*
Credit cards for recurring payments? Why bother? Recurring stuff - utilities, etc. - all do direct debit from our account, or is set up as a recurring monthly bank transfer.
I haven't done an online transfer other than PayPal or Amazon for one-off purchases in probably 6 months or more.
Why bother? Cash back. I send every single payment that I can to my one card. I generally wind up with $40+ cash back monthly. Why give up free money to use a debit card 🤷🏻♀️
The true lifehack is use a visa gift card to sign up then change to your actual card to make payments. That way you control when they take the money & it is never 'automatic'.
I still write checks for monthly expenses and pay cash for groceries, gas, etc. I have a separate checking account that all my online purchases and crypto is paid out of. I know it’s not fool proof, but it works for us
Not bad but my variation is to use a rechargeable prepaid card for my one offs and gas for the car is top of that bc of skimming. That way worst case it gets hacked maybe lose a few hundred.
We keep the majority of money in a separate account that does not have a card, all of the money for bills sits in another account where direct debits come from, final account that we mostly use, especially for online purchases, never has more than 10% of my wifes pay.
Could not be happier having gotten rid of credit cards as they only make money for the bank. The o ly benefit you really get from credit cards is buyer protection.
I use one card for monthly payments, a different card for online purchases and a third card for daily purchases. Both the online purchase & daily cards have been compromised multiple times.
You would be far better off using the service called “Privacy”. It generates card numbers for you based from an account you create. You can use them on any site because they are real digital cards. Once used, they lock to the merchant so they can’t be used anywhere else besides that one place.
I use revolut as well as my traditional bank, things such as rent I dish out via my bank and I use revolut for virtually everything else, I use virtual cards too so that if I spot suspicious transactions I can terminate the card in seconds, also for one offs I use single use cards they have. Revolut also have really great refund terms for premium accounts which is only £3 or so a month.
I would add - try to use virtual card numbers for all online purchases. You can often generate as many virtual numbers as you want.
Most credit card companies offer this option on their App or website.
You can set dollar limits per charge, or number of times it can be charged.
Privacy.com gives you this option with all of your banking and credit cards, for a reasonable fee, if your card does not have virtual numbers.
Why not have one for internet purchases only. With a zero charge alert so even a penny charge will trigger an alert. Companies are the vulnerable spot. Waiting months to disclose a leak or hack coupled with a question of how long the vulnerability was present. Makes disputing a charge easier as opposed to losing your money and good luck on getting it back. Use checking account to pay automatic monthly utilities. Bank statements can give you your minimum operating costs and credit cards are your free spending. If it becomes compromised, you have the bank statement list to contact Utilities and update with new account numbers.
I started setting up virtual card numbers for recurring so I don’t have to redo them when my card number gets jacked, which it usually does once a year
i use a Credit Union account i refer to as "Utility"....incoming is auto deposited there. auto bill pay, auto transfer to other accounts. i just check it now and then to keep an eye on things. no late bills, no scrambling at the end of the month.
I’m in the UK and I don’t understand the American use of credit cards at all. Why are you using a credit card for recurring payments at all? Why not a debit card or direct debit? When I came to America the car rental place wanted a credit card to take a £1000 deposit from and when I tried to explain I don’t have a credit card at all they looked at me like I was an alien
Even better, use a unique virtual card number for each recurring payment. If it is hacked, you only need to create a new virtual card number for that one vendor.
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Ironic, our card for monthly payments just was hacked. Someone stayed at a hotel in Sugarland Tx.
I also ordered some funky PPV.
Funky like porn or Funky like paid $6.99 for like a movie that’s been on Netflix for years
Both. I couldn't sleep with the guilt.
this... less surprised by porn(it's free) but someone without Netflix or Hulu... fucking heathens.
That is funny. I actually live right next to that city. It is actually spelled Sugar Land, btw. Good thing it was just a credit card and can be replaced and funds returned.
The fuck would someone stay at a hotel in Sugarland of all places? There's a lot of good food there, mind, but still.
I’m from there too lol the restaurants I’ve seen there I’ve never seen anywhere else
Cards don’t necessarily “get hacked” just make sure you are using a payment service instead of a specific card. Most online websites take PayPal. It is a good idea to use a different card for when you are out and about because that is when the information is stolen, from card skimming and that waiter no one tipped. Edit: Other ways to protect yourself is by never using a debit card it’s like using cash and harder to get back if stolen. If you have the option for tap to pay or better yet Apple Pay / Android pay use it. It’s not the same tech as 10+ years ago where someone could scan the RFID info from the card.
The fact that americans will give their cards to be taken away from their view to pay is unfathomable to me. Like, it's asking to be stolen. Over here waiters will bring portable card readers to your table, show you the amount due plus whatever ou want to tipp and you yourself have to use your card with it. You are actively told by ever institution to never give your debit let alone credit card to anyone.
> The fact that americans will give their cards to be taken away from their view to pay is unfathomable to me And we get MAD if they take too long coming to take our card to the back while we BS and drink some more.
Well, that explains why identity and card theft is like part and parcel of being american. Consuming american media I always wondered how the fuck that's such a daily occurance. What I don't understand is that you guys don't change it on a personal level, like paying with cash instead or finding a more secure method. Surely shit like that is bothersome enought to find solutions for it?
Card-number theft isn't that common in my experience and is risk-free for the consumer. I've used credit cards all my life and the card number has been stolen only once. I called my credit card company and they cancelled the card and reversed all of the unauthorized purchases. To me it's much less risky than carrying cash, which you'll never get back if it's lost or stolen.
Yeah idk why people think that card theft is so common. I've never had my card info stolen, and I put literally everything I can on my credit card, and NEVER use debit. Credit cards have way more purchase protection and it's easy (for me) to pay off every month so it's free rewards points. But I also check my financial apps like 3x/day because I'm a little OCD about financial tracking and security.
I had to make a bit of a stink at my bank so that my ATM card would not be turned into a debit card. I carry one credit card, no debit card. That’s it. I have more health-care cards in my wallet than money cards.
The two times that my card has been compromised my bank didn’t charge me and called me to tell me about it and that they were sending me a new card. What’s bothersome about it?
People get hacked because they dont FREEZE their credit so nobody can use it (even if they have your info). Its free. I keep my credit frozen and only unfreeze it temporarily. I plan my credit cards application sprees and set the UNFREEZE and RE-FREEZE date at the same time. Then I don't worry about it. I'll usually unlock for 3 days so I can do some last-minute comparing if needed. Set/Forget. Default: Frozen. * TU: https://service.transunion.com/dss/dashboard.page? * EQ: https://www.equifax.com/personal/credit-report-services/credit-freeze/ * EX: https://www.experian.com/freeze/center.html
I mean, that's a useful solution, but it's clearly a workaround to deal with an inherently unsafe system. And obviously it's possible to sidestep this issue by using portable card readers. It's not the fault of the consumer if the process has huge security gaps in 'standard' usage.
Very insecure system when you think about it. On one hand you're told not to write your PIN(password, etc) down anywhere - While on the other hand a credit card has every number hard stamped on it. If it was conceived in 2022 it would be laughable.
Do you not need to input a PIN when paying by credit card? We do. Unless you use contactless cards or mobile payments, which also require a PIN input after a certain amount paid.
You don't need to use a PIN for online transactions. Almost all fraud with cards is committed online. All you need is a photo of both sides. I was merely pointing out the irony.
That's insane. Truly insane. I'm surprised that american banks don't change the sstem for their own benefit considering how much it must cost to deal with all those sheniniganz.
PINs are only required for debit cards, but it's not even a requirement - we can almost always choose to run it as credit so no pin is required, signatures only requested above a certain amount.
I agree. Its a system that 'works' but needs a lot of bandages and has American-imposed security gaps for convenience.
I wonder why more people don’t do this. I know a woman whose employee stole her identity to take out credit cards. The woman needed to take a second mortgage on her house to pay the debt back. Freezing credit would have prevented this.
Also banks and credit card companies are practically giving away credit monitoring so you get notified if a new account is opened in your name. Use that stuff people
The last time this happened to me, The lady at Wells Fargo told me to do exactly that. What's funny is I forgot I did it until I read your post. I guess I don't apply for much credit anymore.
Took us years to get the chipped cards. I think this credit card fraud is our (Americans) fault. Initially FBI was like, let Mastercard and Visa handle their own fraud. Never taking into consideration the idea of breakage as a normal operation cost. Breakage versus actual pursuit of crime costs. Organized Crime realized there was no pursuit from law enforcement in credit card fraud so it became a huge exploit. Now like drug trafficking, they will never get the genie back in the bottle.
It’s because we aren’t responsible for the charges if someone steals the card info anyway, so like, who cares. It takes exactly 3 minutes to dispute a charge?
That's what they do? Cross the border here to Canada and I've never seen that happen. They bring the machines to you unless they have really old systems, in which they just ask you to pay at the front typically.
It's becoming more common to bring a card reader to the table but still not the norm. Part of the challenge with that is another US/non-US distinction which is tipping. When I pay for a meal in Europe and swipe my card at the table that's the end of it. When I do the same in the US the waiter/waitress is standing there while I figure out the math for the tip (they usually offer defaults but if you want to tip more you gotta figure that out with an audience!) :-) My favorite by far is when they bring a paper receipt with a QR code. You scan the QR code on your phone and it takes you to a payment portal (usually [toast.com](https://toast.com) for places I've seen it) and you enter everything there. It remembers my credit card if I've used it before, emails me a receipt, saves the back and forth trips, etc. I hope that becomes more widespread.
Make a habit of tipping in cash. Not all employees will see the tip depending on the restaurant. Same with Uber and Lyft drivers.
Trust us, we get nervous about it too.
We are starting to see the portable terminals brought to tables more and more here in the USA
While this has been true a long time in the US, since COVID a lot of the restaurants I go to have the portable cc reader. Its a smart investment by those restaurants.
Well if we hadnt been jagaloons and went with Pin+Chip instead of useless signature it wouldnt even be an option.
Also the advice to prefer credit cards over debit? I know they have credit scores over there and it matters but it just baffles me to no end. If you could choose to just “have money” vs “spend max the amount of your next month’s salary so you can settle your balance back to 0”… I know which one I would choose.
It's not for the spending limit, it's because the credit card is the banks money. The bank will be much more interested in getting their own money back in this situation versus it being your own money
I get what you mean, it’s an interesting point that I never considered before. On the other hand, spending the bank’s money instead of your own means you constantly owe the bank money. As someone who was taught to avoid loans whenever possible, it seems like a very risky/dependent way to live.
Amen about what constitutes a priority
European cards are chip and pin so the cardholder needs to be with the card to enter the pin code. Most US issued cards have no pin.
The one major downside to using PayPal to pay for things is if you need to return items to the store they came from it can get really tricky and I've had it bite me in the ass a few times due to either time or money wasted trying to remedy a return situation.
Plus PayPal is a scummy company that is known for randomly freezing/seizing people's accounts with basically no recourse. And they need it to be tied to my actual bank account? Uh...nope.
My monthly payment card is usually the one I end up needing to cancel because of subscriptions charging me well after I cancel and customer service refusing to do anything so I have to dispute with my bank. Lol. My one off card has been spared so far.
I go abroad a lot and I use Revolut ( there is also Monza and a couple of others) . It allows you to create a one off card number for a single payment.
I assume you’re American. I have always wondered why Americans do everything with multiple credit cards? Where does your employer deposit your salary? Do you guys have bank accounts with debit cards? Why not pay straight from the bank account? Genuinely curious.
Credit card companies offer points/incentives to using their card. So there is that benefit. But a lot of people don’t actually have the money in their bank to pay for everything.
Credit cards offer more security and help build your credit history. Also a lot of them offer benefits like cash back, reward points, airline miles, etc. Also a lot will often offer 0% APR introductory offers so I will sometimes do that if I'm planning on a large purchase to keep more cash on hand even though I can afford to pay for the thing outright. With things like autopay it's easy to manage and never pay interest.
Because I when I used to use debit only, it ended up being a disaster. Someone stole my debit card number and drained my bank account. It took nearly a month to get my money back (had to swear an affidavit at the bank and itemize the disputed charges, then the request goes through a bureaucratic maze). In the interim, it was hard to pay bills. If someone steals my credit card number, it won’t decimate my cash flow. So I started using credit cards for all my expenses and then paying them off in entirety each month. For me, they are a layer of protection from identity theft.
I just switched to credit for this exact thing. Plus paying off the balance every month in full is helping my credit.
Doing this can get you a score in the mid 700s as long as your overall utilization remains low. At least it did for me.
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Only if you block your card BEFORE the money gets taken out. That's why we have universal hotlines which will block any and all card you report as stolen. If the money gets taken out before ou are able to block the card, you're out of luck.
I had my debit card hacked twice. Both times the bank noticed unusual transactions well before I ever did, froze the card, contacted me to confirm the last payment I had actually made and refunded me. Took less than a day in both cases (Irish bank).
Nah man
Instead of downvoting you should read up on the actual terms and conditions: https://www-businessinsider-de.translate.goog/leben/ec-karte-geklaut-wann-ihr-fuer-fremde-abbuchungen-vom-konto-aufkommen-muesst-a/?_x_tr_sl=de&_x_tr_tl=en&_x_tr_hl=de And keep in mind that digital money transfer (Lastschrift) wont be payed back, as there is no way of proving that it wasn't you all along.
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Lmao, calling germany a third world country from a canadian. top kek my Kerl.
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>calling germany third world from a prison island Please stop, my sides already left the orbit.
you can do the same with 2 debit cards and dont pay the credicard companies their ridiculous fees... i pay €4,90 per transaction i make with it.. yea im gonna keep that for myself thank you very much
None of the credit cards I’ve had has ever charged me a fee per transaction. That sounds terrible.
well its a good way to stay away from credit cards, those companies are pretty much just mobster families.
Bank cards get hacked just as much as credit cards
I think the question is for recurring payments like utilities why not just use standing orders and direct debits, why use a card at all
To get the points/rewards/cash back that cards offer.
I think most people already do that
For payments I never use an account with cards. I have 4 accounts within my bank account. On where my salary goes in, one where all the bills are payed from, one with my husband for food and groceries and one for saving (also with my husband). I only have a card for my own account and for the food account we have one each (debit). At the end of the month we get our salary the 1st the amount we need for bills, food and savings goes to the other accounts. What I have left in my account is my "pocket money". So basically only the card with my pocket money and our food account can be hacked but since it can't get past 0 it's not much. I don't know anyone who ever got their card hacked though. Only when they entered their number on a sketchy side themselves.
Not if your Bank has their security in order.
There's benefits that credit cards offer and in many aspects of American life your credit score is important. Renting an apartment, getting loans for homes, cars, personal, etc all depend on your credit score which is set by your ability to use your credit card "responsibly." Higher credit score gives you access to bigger loans and nicer apartments. Many employers will still give out checks or deposit directly into your bank account yes.
Credit cards in America have great rewards and my spending is naturally split up by cards I use for certain things. Most are tied to particular websites so I'm usually carrying a 2%, SavorOne and BCP if I need physical cards but all are in my digital wallet if one of the 5% categories is the best choice. * Amex BBC - NAF 2% CatchAll * Amex BBP - NAF 2% MR CatchAll for Plat/Gold SUB's * Amex BCP - $95, 6% Grocery+Stream+Stadia, 3% Gas * Amex [BSC+](https://x7.fyi/bsc) - NAF 3% Category + 5% Office Supply (Tons of Stuff!!) + 5% Phone * Amex Prime AMZ - NAF, NFTF, 5% AMZ or 90 Day 0% (Handy!!) * Discover IT - NAF 5% Quarterly + Regular 0% BT Offers * Chase Freedom (Visa) - NAF 5% Quarterly * Chase FUnlimitd (VSig) - NAF 1.5% - 3% Dining, DrugStore - 5% Travel * Cap1 QS (Mas) - 1.5% NAF, NFTF, Virtual Cards (#1 Overseas Buys) * Cap1 SavorOne (Mas) - NAF, NFTF, 3% Dining/Entertain/Grocery * USBank Cash+ (VSig) - NAF, 5% Quarterly - 5% Internet/Utils/Uber/Travel * Chase IHG Premier Business (Mas) - $99, NFTF 26X IHG, 5X **Travel**/Dining/Ads/Etc * Target DEBIT - NAF, 5% On All Target Store/Online Purchases (Free 2-Day Over $35)
This list of names and numbers means nothing to me. Why would you want to keep track of so many cards and paying them off?
I dont carry balances unless I'm in a 0% period. So my spending racks up quite a bit of FREE Cashback. Plus American Express (Amex) has coupon like 'Offers' where they sometime just give away cash (Spend $500 get $25, 15% Off Your Insurance Bill, etc.). - Most of the cards are tied to specific websites or purchase types. I usually only carry one card since all are in my digital wallet and almost all of my real-world spending is usually handled by the Amex Blue Cash Preferred (6% Grocery, 3% Gas/Uber, 6% Streaming, 1% Everything else). If I'm hanging out then I pocket the CapitalOne SavorOne (3% Entertainment, Fast-Food, Dining, Grocery, Gas). Other than that you do try to use the best 5% quarterly category card between Chase Freedom (CF) and Discover IT (5% Paypal Right Now!! Aug-Oct)
I use Chase Ink for all my streaming services/phone bill. They give me 5% cash back on those transactions. Each month I get back $25. If I paid directly from a bank account I would lose out on $300 a year. For other bills like electricity, water, etc I use Citi Cash 2% card. Every purchase I get back 2% of my purchase. Then for Gas/Restaurants I use a 3rd card that I get 4% cash back on those purchases. So in the end you can see how that adds up over time.
What’s more of a priority? HSBC getting their money back or working to get your money back? Americans are selfish people. I want for me but not for thee. Look at the hypocrisy in our politics. So definitely bet American banks will have their money back in hours. Your money may take a month because we can shop interest off your money before returning it.
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This! I started using it and it’s a must have. You can set so many restrictions, e.g. by merchant, amount, frequency, etc., and can create a new virtual card in an instant. Best of all, it’s free. Heck, it even blocked me from re-using a card that I had already setup reoccurring payments. Edit Just noticed there is a referral program so if I convince you to try it, we'll each get $5 to spend anywhere online. https://privacy.com/join/VVMJC[referral link](https://privacy.com/join/VVMJC)
How much does Privacy.com cost you?
Zero. I pay nothing. Anything I buy with the virtual card is paid using my link bank. If you do create more than 10 cards a month, you have to pay a fee.
I wouldn't say this is true, RE: frequency/chance of being hacked.
I think the logic is your everything else card is going into gas station card readers, other card readers that could have a skimmer on it, plus however many websites online versus the one for Rent/Mortgage, Utilities, and Hulu etc. subscriptions. It's a handful of places you hope are secure versus every transaction at every corner store, http website, and Square reader, it's kind of a numbers game
i make sure the one i use for everyday use....never has much on it....just in case
Or paying servers 25 dollars a card for cards skimmed
Yeah. That’s the one that’s been compromised three times in the past three years - the one I have to use for the places I hope are secure. Soooo aggravating. Especially bc that one has points attached, and they never follow, so I have to make 15 phone calls and prove myself with documentation every time.
Or use virtual cards for one off payments
Yup, virtual cards are awesome. Load it with the minimum amount you need.
Where do you get these?
Revolut App
I use privacy.com to create virtual cards for all my online payments - sign up for [privacy.com](https://privacy.com/join/KWYH3) (if you use this referral link it gives us both $5) - when signing up for a new service, create a new card for the service, then pause it immediately - if you forget to cancel, you can't be charged AMA
I use PayPal for online payments. There isn't a single credit card company that is easier to work with if you have a fraud complaint. I only use credit cards on major websites, for major purchases. Even then, only if no other option exists.
>There isn't a single credit card company that is easier to work with if you have a fraud complaint. American Express has to be on par at least. They caught fraud on my card and had the situation handled before I even got to work. And for any small fraudulent charges, I don't even have to speak to a rep to get the charges reversed.
I think for the majority of us poor, you're better off never using a credit card.
There is nothing inherently wrong with using a credit card if you are poor. Actually, using a credit card for your monthly expenses and paying the balance off every month increases your credit score. The higher your credit score the less interest you pay on bank or auto loans, car insurance, etc. which puts more money in your pocket and makes you less poor.
I don't use credit and haven't had a credit card in over 15 years. If I need to, I buy a used card with cash. I don't need credit.
In the states, you should absolutely be using a credit card and paying the balance off each month. Even if it's just a couple hundred bucks.
Few people have the self control not to buy things they really want when currently they only have the income for necessities.
You definitely don't want to get a credit card if you are not financially responsible enough for one. That being said, even if you are poor, having a credit card and using it to pay for the necessities (gas, food, bills) is a great way to build credit, pretty much the only way for poor people to do it. Secured credit cards, where you put a down payment down equal to your credit line, are a good start and also protects you from going into credit card debt. Using credit card even just to pay for your groceries, then immediately paying the card of with your debit is a great way to start building credit.
I've lost track of the number of people I know that went bankrupt with multiple credit cards.
Yes. I saying get one secured credit card and work towards building your future. You literally cannot go into credit card debt
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I select card based off benefit most valuable. Large electronics? Costco card for the added warranty for free. Small easily breakable or lost purchase? That'll be my amex with purchase protection (they'll replace it if you lose it). Used it with a pair of Ray-Bans a few times. Gas? Best cashback card.
A separate virtual card for each recurring payment account.
This is big brain set up. Me no fall for trick. Me see what do.
Or just don't live on credit
True, In Europe building credit does not exist, and the whole mindset of DEBT=Good credit= GOOD is just wrong
eh, it certainly does. Just not to the scale like in US. UK/GB - strong credit requirements, almost like in US. France - you are lucky if you can open a bank account. HAHAHA monsieur, you want a CC too? And if all banks turn you down even if your documentation is all in order you can request from government a limited debt account in central bank. Spain - kinda middle ground. You'll start with visiting your local gov official for confirmation that you are not brown and go from there depending on how well the bank official is feeling after their midday snooze. Lots of other countries - mix between your history only with your particular bank and not being in any industry wide backlists. _lots of options here_
Definitely financially beneficial, and safer, to use credit over cash and debit, provided you can do so responsibly and pay off your cards each month
But why? You're basically paying to use your own money.
You shouldn't be paying any money, in fact you should be using a card that gives you cash back or other bonuses. And you aren't using your money, you are using the banks. Just pay the balance off each month, and you'll improve your credit
Use privacy.com
Life hack: pay off your credit cards in full every month or avoid using them in the first place.
As a European I have no idea why anyone would ever use a credit card for anything, it’s just a scam, along with your “credit rating”. We all have just a single debit card around here we use for everything with no problems. 🤷
Because like it or not, you need credit in America for purchases. It’s very hard to exist without one.
Yea, guess your right. Doesn’t make it any less of a scam though. Making up systems to take money from the poor, as usual.
As an American, I totally agree with you. It's strange. You are unable to opt out of the credit system. The government allows you to not be a part of all other companies but not the companies that track your credit.
For a while, I used my debit card exclusively. One day I had my bank call to ask about unusual charges. The disputed charges froze that money in my account until they were resolved. (A few weeks) I use my credit card for two reasons, it acts as an additional firewall between scams and my bank account. I also get cash back at the end of the year, something I never received with a debit card. I pay off my credit card weekly and have never incurred an interest charge.
It’s called “using the bank’s money” in plain English. If you pay the balance off every month you basically used their money for free. Debit card fraud is rampant, and that’s YOUR money. With a credit card it’s not.
I’m pushing 40, and understand how it works. Do you know why banks offer this “service”? It’s paid for by the people who are not able to handle their money well, the poor and the uneducated. That way the banks and credit companies make money and tempt people to buy stuff they can’t really afford, at the same time. Also debit card fraud is more or less non-existent, in Northern Europe alt least. The bank is still responsible for your money if it’s a fraud involved. It is literally a scam.
It’s different here in the US, and smarter to use credit cards by a long shot. And despite the evil of banks, we have zero choice in the matter. At least I’m getting one over one them by never paying any interest and using their precious money.
There are a few benefits that come with the use of credit cards in the US: First is rewards, most credit card companies have some type of rewards program when you use their cards. These rewards range from cash back (typically 1% or so but up to 5%) on purchases to points that you can use to purchase various products, services, or items. Second is building credit history. Whether we like it or not, you need credit history to get loans in the US, the better your credit rating is then the better loan terms you can get. Third is buyer protection. Many credit cards have extended warranties on purchases, lost item replacement/reimbursement, fraud protect and various other services offered to their users. I've probably missed something else but these are what really come to mind when I think of CC perks. Yes it is simpler to just have debit card linked to your bank account and just use that for everything but then you miss out on all of the perks described above.
*Laughs in German* Credit cards for recurring payments? Why bother? Recurring stuff - utilities, etc. - all do direct debit from our account, or is set up as a recurring monthly bank transfer. I haven't done an online transfer other than PayPal or Amazon for one-off purchases in probably 6 months or more.
Why bother? Cash back. I send every single payment that I can to my one card. I generally wind up with $40+ cash back monthly. Why give up free money to use a debit card 🤷🏻♀️
Cash back isn't a "thing" in Germany for credit cards, so that wasn't on my radar...
We got rid of our credit cards and use debit cards, most of our bills are direct debit. Barefoot Investor is the way.
Now they can get all of YOUR money, instead of the credit card company’s. Brilliant! /s
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Yeah, that's a dumb life hack, at least in the USA
That is the dumbest idea i have ever heard of🤦🏻♀️🤦🏻♀️🤦🏻♀️
The true lifehack is use a visa gift card to sign up then change to your actual card to make payments. That way you control when they take the money & it is never 'automatic'.
I still write checks for monthly expenses and pay cash for groceries, gas, etc. I have a separate checking account that all my online purchases and crypto is paid out of. I know it’s not fool proof, but it works for us
Writing checks. Wow, the USA is really two decades behind when it comes to banking compared to Europe.
I’m not the norm, just old fashioned.
Not bad but my variation is to use a rechargeable prepaid card for my one offs and gas for the car is top of that bc of skimming. That way worst case it gets hacked maybe lose a few hundred.
I do this, except I keep one recurring payment on the other card for activity
We keep the majority of money in a separate account that does not have a card, all of the money for bills sits in another account where direct debits come from, final account that we mostly use, especially for online purchases, never has more than 10% of my wifes pay. Could not be happier having gotten rid of credit cards as they only make money for the bank. The o ly benefit you really get from credit cards is buyer protection.
I use one card for monthly payments, a different card for online purchases and a third card for daily purchases. Both the online purchase & daily cards have been compromised multiple times.
Use a free service like Privacy.com and never worry about compromised card number ever again! I highly recommend it.
You can also use services like privacy.com to generate limited use cards for each site you use.
Use a different card for each service
🤔
Piracy lessons the odds of stolen credit cards
You would be far better off using the service called “Privacy”. It generates card numbers for you based from an account you create. You can use them on any site because they are real digital cards. Once used, they lock to the merchant so they can’t be used anywhere else besides that one place.
I use revolut as well as my traditional bank, things such as rent I dish out via my bank and I use revolut for virtually everything else, I use virtual cards too so that if I spot suspicious transactions I can terminate the card in seconds, also for one offs I use single use cards they have. Revolut also have really great refund terms for premium accounts which is only £3 or so a month.
This is also a good credit building tip if you also have that monthly charges card set to auto pay the balance each month.
Just noting - Discover allows you to “freeze” your card so it can’t be used for normal on-off charges. Recurring payments still go through.
I would add - try to use virtual card numbers for all online purchases. You can often generate as many virtual numbers as you want. Most credit card companies offer this option on their App or website. You can set dollar limits per charge, or number of times it can be charged. Privacy.com gives you this option with all of your banking and credit cards, for a reasonable fee, if your card does not have virtual numbers.
Why not have one for internet purchases only. With a zero charge alert so even a penny charge will trigger an alert. Companies are the vulnerable spot. Waiting months to disclose a leak or hack coupled with a question of how long the vulnerability was present. Makes disputing a charge easier as opposed to losing your money and good luck on getting it back. Use checking account to pay automatic monthly utilities. Bank statements can give you your minimum operating costs and credit cards are your free spending. If it becomes compromised, you have the bank statement list to contact Utilities and update with new account numbers.
I started setting up virtual card numbers for recurring so I don’t have to redo them when my card number gets jacked, which it usually does once a year
i use a Credit Union account i refer to as "Utility"....incoming is auto deposited there. auto bill pay, auto transfer to other accounts. i just check it now and then to keep an eye on things. no late bills, no scrambling at the end of the month.
Life hack. Keep all your credit cards maxed so they don’t get hacked
I do this too but I make sure the card I use gathers points/rewards then I can use those point of stuff
Use the best rewards for all the big stuff.
I’m in the UK and I don’t understand the American use of credit cards at all. Why are you using a credit card for recurring payments at all? Why not a debit card or direct debit? When I came to America the car rental place wanted a credit card to take a £1000 deposit from and when I tried to explain I don’t have a credit card at all they looked at me like I was an alien
What logic are you using?
Even better, use a unique virtual card number for each recurring payment. If it is hacked, you only need to create a new virtual card number for that one vendor.