Quote:
Originally Posted by GoinAllTheWay
And it's stats like these that really makes me wonder what the point of having a credit card is these days. Only real function I can see is for deposits on rentals. Everything else can be bought with debit. I believe you can link paypal to a bank account for internet purchases so there not really needed there either. Only reason I use my CC for purchasing electronics is to extend the warranty past the original manufacturers one.
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Personally, I don't use my debit card at all anymore. I use my credit card or straight cash for every single purchase. This is the understatement of the year, but people do use credit cards because they don't have the money in their accounts though. Others such as myself use credit cards because of the rewards associated with them. I'm proud to say I've never carried a balance ever in my short life, and with rewards being what they are these days for using the credit card, it's totally worth it. The funny thing is though, working for a bank you occasionally hear some really odd things that people do, "I like the cashback portion of the credit card", but they carry a $10K balance at 19% and the cashback is 1% or 2%, but they can get a line of credit and save 10%. And we wonder who subscribes to African e-mail investment opportunities.