Hi RIP friends,
I got my first real Credit Card few days ago. I didn’t own one before. Well, as I’ve explained previously, I had some sort of similar tools, like rechargeable debit cards and Hooli issued credit cards, but they’re not the same thing. I never had this sort of monthly threat “pay your bill or we’ll destroy your finances”. It feels strange.
Anyway I don’t get it. I don’t understand why it works this way. The system is broken and inefficient, I really don’t understand why. Let me explain.
“RIP, but why are you complaining and then you got a card?”
- inefficient: credit cards are too good for smart people to be true. Too bad for dumb people. This is not a stable system. It’s based on illiteracy
- what do they have to gain from someone like me? I just pay my bills on time and that’s it. I enjoy rewards.
- I heard that in US there are crazy rewarding credit cards, like you can get tons of benefits for just… having money borrowed at you at 0% interest!
- My card is the only one in Switzerland with 0 fixed costs, which could have been the only reason that makes the whole system sustainable. no costs, only benefits? Why?
- I understand VISa/Mastercard/Americanexpress circuits get money from merchants, but that’s a robbery. It’s inefficient. Merchants have to accept this extortion silently. Inefficient.
- Cryptocurrencies are the solution for transaction? link the TED talk about the future of money.
- Why can’t I use directly my money (checking account) to buy stuff on the internet and on physical stores? Btw, I can do it almost everywhere in Switzerland with PF or UBS. Btw, I get nothing from doing it this way, no “points”, no “rewards”.
- Explain why I got the card (want to close UBS, want to be able to buy stuff online, want to not have to pay a monthly fee)
- Explain that I’m going to pay my cc bill monthly, no way I’m going to pay 9.9% interest.
- Are they just hoping I forgot to pay my bill?