What are these things? Why do banks need to use them?
There is the slogan; “for everything else there’s MasterCard”. As user of cards does this awareness benefit me I’m any way when I don’t have a choice in what card I get as it’s up to my bank?
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> What are these things? Why do banks need to use them?
A credit card does what it says on the tin – the user can buy on credit without having to hasten through a loan application for every piece of bubble gum and the providing bank gets to collect interest.
Additionally, initial liability for payments lies with the **bank**, not with the user since charges usually only get deducted from the user’s account in form of a monthly charge. That means if someone else fraudulently uses your credit card then you don’t have to take the loss if you catch it early enough. If someone else fraudulently uses your **debit** card however, that money is gone immediately.
>There is the slogan; “for everything else there’s MasterCard”. As user of cards does this awareness benefit me I’m any way when I don’t have a choice in what card I get as it’s up to my bank?
That’s a bit like saying “I don’t have a choice in whether I use electric motors or a combustion engine in my car, the manufacturer put X engine in there already!” – I mean… sure, but you chose the car!?
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