The only reasons to use a CC in EU are:
- online payments where CC is the only accepted form of payment
- delay payments until after receiving wage
- hotels, car rentals, and other places that lock an amount on your card
- extra insurance provided by some more premium cards (VISA Gold etc)
Ever since 3-D Secure (2FA for CC transactions, beyond the CCV code), you have been liable for any transaction that was validated by it. Your bank may still do a chargeback as a courtesy, but that's not guaranteed.
You're just raising the price for everyone for the sake of Visa & Mastercard's profit. Europe's cap makes a ton of sense.
It's not fully unnecessary step in-between when fraud is involved.
If someone hacks you/deceives you and somehow they got $5000 from your debit card, then your bank account is $5000 smaller. That can impact your ability to pay rent, or whatever you needed those $5000 for.
If it's via credit card, you have a decent amount of time to contest and resolve the issue.
the disputed amount should effectively be removed from your balance or offset by a temporary provisional credit until the investigation is completed
That's a myth. I had my debit card cloned and some money stolen. The bank gave my money back. Debit cards are protected too.
Between the time [some money stolen] and [bank gave my money back] your checking account balance was lowered by the amount stolen.
With a credit card, your checking account isn't directly affected.
Both are protected, the difference is your effective checking account balance in the time window between the time the money is stolen and the money is recovered.
https://en.wikipedia.org/wiki/List_of_countries_by_household...
But I guess it’s the same logic as the tipping point/ salary culture in the US.
Or the fact that sales tax is not always included in the price.
EU has low fees for transfer, USA has high fees for transfer but apparently its easier for an US Citizen to dispute something.
At least as far as i'm aware, if i send money to someone else, its gone.
Whats that artifical cap?
I've never understood this mentality. It's like walking through a dangerous neighborhood knowing that you have excellent health insurance. If you get stabbed, you'll probably recover very well, but why take the risk?
I can understand going into debt to buy a house, but I can't understand going into debt to buy a can of tuna. Why take an unnecessary risk?