And I would add that if you are behind with your installments, creditors can only hunt you down for 50% of your income (subtracting any other credits you may have / owe), so you don’t typically go bankrupt because of loans. Of course, for a mortgage, you do lose the house, but I’m talking about general loans so-called “for personal use”.
They also don’t really care about credit ratings.
Exactly. Credit scores are a scam and an incentive into having a credit card and overdrafting.
Instead, there are laws that restrict you from buying or mortgaging at a monthly cost higher than x% of your monthly income
It’s called “level of indebtedness” or “financial burden” and it’s typically 40% of net monthly income. So you cannot get a loan that would put your total monthly installments (counting all of your credits) above 40% of your income.
The Dutch don’t live off of credit cards the way North Americans do
in the Netherlands, many people don’t even have a credit card
And I would say most of Europe.
When I pointed that out in another thread, people got butthurt.
- because CC companies incentivize us to do so
That was my point, yes. Also, see my other comment, I live in Europe where credit lines (we do have the so-called “shopping” cards offering fixed installments for purchases but also overdraft at an ATM) aren’t the norm here and people opening up such an account take it more seriously and pay attention not to overdraft. “Building your credit score” isn’t a thing here. Confusing terms and scum agents promoting those cards do trick people into overdrafting and paying huge monthly interests (30% / year) instead of fixed installments, though.
I guess it does work differently, and it depends on the bank. I’m in Europe. When I make a payment, let’s say Saturday, that will actually be processed on Monday, the sum doesn’t show up in my account anymore and I see it as a pending transaction. So I can’t spend more than I have on a debit account.
The only time I would owe the bank are card reissue fees every few years, which could take the balance into the negative. But if you have multiple accounts with the same bank (including savings accounts) the fee is automatically withdrawn from other accounts. Also, no fees for the negative balance if it’s a debit card. You can have it pending for months without issue.
I actually take advantage of not being able to overdraft by having a separate account and attached card that I only use for online payments. It normally stays on 0, and I only move money there before making an online purchase. If my card details are leaked / stolen, transactions would get refused (no money in the account), I would just close the card and request another one.
PS Given the downvotes, I understand I might have a wrong understanding and might confuse banking terms a bit, but I don’t live in the US and I certainly wasn’t taking the side of banks regarding the overdraft fees.
I have no issue with overdraft fees, which are normal (for credit accounts), but my problem is that to my understanding most cards in the US are credit cards (so overdraft-capable) by default. Rest of the world takes advantage of the more sane debit card.
😂 That’s what Muskrat wanted you to believe. Engineers and people with more than 2 brain cells have debunked the Hyperloop idea for years. Here’s one of them from 7 years ago.
If you define “stupid” as “lacking critical thinking skills”, then I agree.
As someone reading this thread, I’m stuck in an endless loop.
I know I’ve been off Twitter for a while (too lazy to switch to a working Nitter instance), but Jesus, that thread of replies is a shitshow.
I’m sorry, but what is the difference? If you know the subject is “thinking” of a phrase, and the algorithm translates the EEG during that time into words, isn’t it mind reading?
Where do you keep your KeepAss master password?
In my head. If you use a long passphrase, it’s easy to remember, easy to type, and secure.
The pregenerated book of codes is used since ancient times and it is interesting, but I would much prefer to educate people to use passphases instead.
And everybody has a phone with them at all times, you can have Keepass on it. It doesn’t use the cloud, it’s local, and if you need to sync the password database file automatically with your PC it’s safe to keep it in the cloud, it’s encrypted and only decrypted locally. But I myself use a self-hosted instance of Nextcloud.
I think the point was universal dongle with universal BLE / radio protocol. It could still have different encryption schemes and keys for each device / manufacturer by upgrading / installing drivers (so in software), but at least the radio packet protocol would be the same which would keep the hardware universal. Kind of like how smart home hubs (WiFi +/ Zigbee +/ Bluetooth +/ 433MHz / etc) work.
But we all know how creating a new “universal” protocol goes from experience (ie USB “standards”).
Is it just 2 Mw or is the article wrong?