In the US, credit cards convey many legal and financial protections not available otherwise, including built-in car insurance for rental cars, the ability to contest any payment and thereby receive a refund, and no liability for fraudulent purchases. As someone who pays the bill on time, using my no-fee rewards card for the last several years has also netted me more than $500 in free money.
Some nations give such protections to all their citizens regardless of payment form.
This program is presumably directed at countries where credit card use is already common. If you happen to use a credit card anyway (and this deal is available where you live), then switching to this is an essentially no-cost way of donating to SIAI (unless you have a rewards program on your card that’s very good). If you don’t live somewhere where credit cards are acceptable/viable, or if you don’t have one personally, it probably isn’t a good option for you.
… I don’t get the point of this. Is there some cultural US thing related to credit cards that make them a viable strategy or am I just being stupid?
In the US, credit cards convey many legal and financial protections not available otherwise, including built-in car insurance for rental cars, the ability to contest any payment and thereby receive a refund, and no liability for fraudulent purchases. As someone who pays the bill on time, using my no-fee rewards card for the last several years has also netted me more than $500 in free money.
Some nations give such protections to all their citizens regardless of payment form.
Here’s an article from Get Rich Slowly which discusses the benefits of credit card use in more detail.
O_o
I’m not sure I even want to know how somehting that insane and arbitrary could become a rule. I probably do thou, as a cautionary tale.
This program is presumably directed at countries where credit card use is already common. If you happen to use a credit card anyway (and this deal is available where you live), then switching to this is an essentially no-cost way of donating to SIAI (unless you have a rewards program on your card that’s very good). If you don’t live somewhere where credit cards are acceptable/viable, or if you don’t have one personally, it probably isn’t a good option for you.
Many cultures have a stigma against credit cards and/or debt in general.
Most people in the United States are not aware that credit cards are debt.
Probably more accurate to say that they can recite the fact, but don’t take it into account during decision-making.
False.
Are you sure?
I wasn’t aware of that. Edited to try to be less US-centric.