Sounds great, but for many people it is a lot easier said than done.Credit Card companies will encourage you to spend more to get those rewards, discounts or airmiles etc.I am not against owning them as long as I live within my means.
And that’s the key right there: not over-indulging, which, when it’s in your hands is a hell of a lot of temptation.
As someone who has been on both sides of the coin, having spent outside of my means and reaped the costs, but also used one in healthier times financially, I know it can be all too easy to fall into that trap.
The one argument I would make for a credit card is how it can help you improve your credit score. But that ties to the above comment and the owner’s ability to control themselves, stay within limits and pay their bill on time.
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I appreciate your comment , I guess we can agree that ,creating a budget and avoid reckless spending is the key to live within our means.
It’s Visa that is charging more fees, not Amazon. Before UK leaved EU, UK as other EU countries, had legislation that capped the maximum fees that card payments systems could charge.
Due to Brexit, UK became an outsider of that legal protection, the card payments companies took advantage of that, with UK consumers and UK-issued card owners (and indirectly UK merchants) being harmed.
If Australia and Singapore have higher card fees, they must create legislation to try control that fees. Also US don’t have legal limits on card fees. That why some European neobanks/fintechs want to expand to US, they could have more revenues due to higher card fees than in Europe thay have low card fees.
All this being said, for Visa owners such as myself I do feel this is a good opportunity to add shares.
No doubt visa and Mastercard will continue to go higher as cross border transaction volumes continue to increase as travel and tourism come back.
Not sure what’s going on with PayPal but don’t care as I don’t own it.
I do believe it is.
Well I say that but my personal investing strat is to put in money and hit the good old ‘self balance option’ each month
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S&P 500 has performed better than Visa…
Although travels were put on hold, ecommerce was booming during the same period of time. Tourism could have card payments and cash payments, but ecommerce only accepts card payments. So I don’t know if an increase on travels would compensate the decreasing of ecommerce for card payments.