/biz/ - Business & Finance

>>53948445
Europeans are extremely poor compared to Americans. Hope that explains it.

>>53948445
Your people don’t really matter anymore

>>53948454
>>53948460
that has nothing to do with my question

>>53948445
A jewish debt trap. The idea is that you get to spend money before you have been paid. This hard ever works and mutts get put into debt to their jewish overlord. The best is the little mongrel zogbots love it. They even have a little score that they like to brag about to each other. Like the chinks with their social score.

Its a scam but you get scammed anyway even if you dont participate so everyone does. Classic crisis of the commons.

When you use a credit card you get "points" and you can spend the points on free flights, TVs, sometimes even cashback. The money for the "points" obviously comes from the service fee that the credit card company charges the retailer and in response the retailer raises prices for everybody. However you still have to pay the inflated price even if you dont have a credit card so you might as well get one so you can collect points. If nobody had a credit card then everything in stores would probably be 5-7% cheaper but they are so ubiquitous that any one person deciding to have one makes no difference.

>>53948485
Debt is key for wealth in clown world, my silly little eurotard.

>>53948499
>>53948518
ah thats how i saw it then.
but there must be some upsides to owning one right?
like let's say that i need to get a loan for a house or something else. if i've owned and used a credit card for years, am i more likely to get that loan?

>>53948454
But that's obviously not true. Some countries have double the gdp per capita of the US. I myself am a Swiss citizen, which means I am automatically richer than any American, and I don't own a credit card.

>>53948549
GDP per capita is a meme.
not saying that the average swiss is poorer than sharts but there are better metrics to prove your point.

>>53948445
OK fine
>Universally accepted in America
>Many benefits included when you use it, including concierge service, fraud protection, purchase protection, rental car and cell phone insurance included no charge
>Get rewards for using it, often 1% or as high as 2% of all purchases back as cash. Amazon has a card that gives 5% back on all Amazon purchases and there are fuel, grocery and airline cards as well that give great rewards on purchases made through them.
>Airline cards give free checked bags and lots of other perks
>Sign on bonuses can easily be $750 or more
>All of this costs you NOTHING as long as you pay your card off every year; or some cards have an annual fee but their bonuses easily make up for it

They are absolutely worth it. I get at least $2000-$3000 a year in bonuses and cash back, and it costs me nothing. Not to mention the perks like purchase protection (I buy something I don't like or it broke and I can't return it or get a refund, just let the card company know and they remove it from my bill). Wouldn't you do the same? Do you get it now?

>>53948445
onzellig is dust

>>53948628
Nice try, Schomo but not getting a credit card
t. credit card-less fag since 2020

>>53948628
>I get at least $2000-$3000 a year in bonuses and cash back, and it costs me nothing
Obviously this money doesn't come from nowhere. The cashback come from merchant fees, that are impacting prices... So everything you get back they have taken from you in the first place.

>>53948454
Bullshit. The median american income is slightly above 30k

>>53948549
You should exclude the 50% of our country that were imported to be slaves (I don't just mean blacks)

>>53948659
Yes but I'd be a fool not to take the money if I'm paying it anyway. And the sign on bonuses are the best part and that's not coming from merchant fees, it's just a loss for the bank if you don't get in their debt trap.

>>53948638
issa gem though

>>53948545
>if i've owned and used a credit card for years, am i more likely to get that loan
That's how the credit score works (at least in theory). You get preferential treatment when it comes to leans, interest rates, payment rates etc if you have a good score. It basically acts as proof that you can and will pay your debts on time, except the way it's tallied is a great mystery, and severely retarded

>>53948445
Here in America, your goy score, AKA credit score, determines if the jews will let you buy stuff like houses, cars, and educations.

>>53948659
Guess what, merchant fees are on EVERYONE

the real kicker is you make money off of retarded blacks and hicks who can't manage their money

Lol spent too much on your truck? Your interest payments are paying for my new flight to Europe chud.

If I miss a payment I call em and say bitch take off that interest charge and they do because they know I'm not some poor

>>53948549
Keep telling yourself that pasta-kraut

>>53948659
It's not merchant fees you retarded nigger. It comes from niggers who carry a balance and pay 27%+ interest. Just look up a credit card companies financials. 90% of their revenue is from interest charged, not on fees. Credit cards are pretty much the only example left of poor people subsidizing the rich rather than the other way around.

This guy's a moron, most euros have credit cards lmao.

>>53952285
Most don't use them much. Personally I'm bad with paper work so I'd probably just forget to pay a bill every now and then.

However, debit cards are super common and I think they pay the same transaction fees.

>>53948445
the appeal is to spend money you don't have.

>>53948659
Not really. It's more like insurance: the retards aho don't pay on time fund your bonuses. The service fee applies even if you pay cash in any store that accepts credit, and those that don't overcharge you on account of the competition having increased prices.

>>53948454
fpbp, there is nothing else to say

>>53948445
It's a magical form of secured or unsecured compounding debt that is used by people to incorrectly rationally justify a number of other unjustifiable debts all while collecting data about you to assist finance companies on the most profitable ways to profit from your with minimum risk.

>>53954960
The common credit copes are
>I am building my credit score
>I am benefiting 0.4% from fuel purchases and 0.03% in airmiles and put $5000 of 0% debt for 1 year over 3 cards by putting a cash advance into a 2% saving account to profit $100 dollars for 1 year... oh look I lost my job I'll just use the balance it to pay this months rent.
>My $1500 car repair bill on a $10000 vehicle is an emergency expense and I definitely don't own a car I can't really budget to afford to maintain.
>I need to take the receptionist who knows I make shit money because she works at the same company I do to a nice restaurant to pretend I am rich.