3/17/2024 0 Comments You need a budget credit card![]() Credit card points and rewards are carefully designed to entice you to spend more money, because banks know that you will likely carry higher debt levels with a credit card. Not only do payment vendors make money when you spend, the banks that underwrite credit card debt know (because they have studied human behavior) that when you swipe a credit card, you tend to spend more money. The problem is, you can't win the credit card game. Why? Simply put, when you spend more money, more often, payment vendors make more money. Jesse attended a "payments trends" conference in 2019, where the main topic was how to make payments easier, to remove as much friction as possible from the process of buying things. Cash is becoming less and less convenient to use every year, and debit cards continue to lack the same level of fraud protection that credit cards enjoy. For better or worse (probably worse), credit cards are a major part of our financial world now.
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