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I used the poor to defeat the poor
(lemmy.world)
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this post was submitted on 23 Oct 2023
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Get an account at a bank that charges interest for negative balances instead of fees. It's the European banking model. Plenty of smaller US banks do this. Also, STOP BUYING STUFF WITH A DEBIT CARD!!!
What's the issue with a debit card again? Are you saying that we should be using credit cards, or physical currency?
If your card number is stolen the bank will take months if at all reversing the charges. It's also easy to distinguish a debit from a credit card. When the thief figures out it's a debit card, they drain every possible penny right away. They can use it for cash back so the payout is faster and easier. Meanwhile your account is overdrafting and you can't pay your bills for months.
Compare that to a stolen credit card.... You just tell the bank which charges are fraud and they reverse them all immediately without question.
Use credit cards or cash. Leave the debit card at home locked away for the rare atm run or just destroy it.
Are there any systems I (pun unintended) buy into when using a credit card over a debit card?
I'm still agreeing to a bank, for instance, when credit unions are an alternative.
Apologies for the naivete. Seems like my education failed me here.