this post was submitted on 21 Aug 2023
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Do you use a credit card? Why or why not? (discuss.tchncs.de)
submitted 1 year ago* (last edited 1 year ago) by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml
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I know this might just reflect financial culture differences across countries, but let's give it a try

Edit: as a clarification, I meant credit card compared to debit, not to cash

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[–] Kelsenellenelvial@lemmy.ca 1 points 1 year ago

I think US cards tend to have better rewards than Canadian ones, but echo on the fees thing. If a person is spending $1000/month on their card(which isn’t much once you put all your utilities/gas/grocery/etc. purchases together), and youre getting a 1% cash back/reward, that’s $120/year worth of rewards. So depending on your yearly spending, it can be worth paying that annual fee to get a card with better rewards.