Comments by "Doncarlo" (@doujinflip) on "The Surprising Way Credit Cards Make Money" video.

  1. It also depends what your selling. For mundane transactions it's not a big deal, but when splurging on something special AMEX is famous for having the best value to the buyer (both in purchase protections and ancillary benefits). AMEX doesn't also offer business grades of its premium cards because it's truly adversarial to business owners.
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  2. ...until your debit account gets cleaned out and your bank isn't so motivated to get it back, compared to when it's their money gone missing on a credit card.
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  3. The labor and security costs of cash are about 1~2%, going by what every country outside the US seems to have. The extra points and cash back America offers often come from the merchants (plus those unlucky to pay interest), but this can also be thought of as an investment in supporting and developing the overall extremely lucrative American consumer environment where they make their money in.
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  4. ​... until your debit account gets cleaned out because someone skimmed your swipe, and you find the banks aren't as motivated to get it back compared to when it's their money gone missing from a credit card.
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  5. It's your money that eventually must pay, but at least it's still there in your account when the bank-funded credit line was one affected.
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  6. More like cash is a backup, able to elegantly reintegrate into the digital payment space when the network comes back up. It's cryptocurrencies that don't offer a trustworthy alternate mode.
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  7. Europe is highly protectionist. You're paying for the protection of EU industries and jobs.
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  8. I didn't mind the 2% upcharge, because my USD had like 20% more buying power Down Under.
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  9. That's great if you have an EU bank account. Visitors won't. The need for a local bank account likewise deters independent tourists from visiting Mainland China, as their similar bank-linked WeChat+Alipay system doesn't consistently take foreign payment options.
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  10. ​ @jirehtheprovider Debit cards are also much more risky, because if your money goes missing the banks aren't as compelled to help compared to when it's the bank's funds on the line with a credit card.
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