> The entire idea behind credit cards is to force processing fees upon store owners.
No. As a consumer, I enjoy immense value by carrying around zero cash. In fact, I don't even carry around physical cards (thank you Apple/Google Pay).
No. As a consumer, I enjoy immense value by carrying around zero cash. In fact, I don't even carry around physical cards (thank you Apple/Google Pay).
Also how do you do anything if your phone is gone - travel, call, let the bank know, buy a new phone, let your partner know you're in trouble, anything?
Also how much is you phone worth? A quick look suggests ~£1000 for an iphone 11, although I guess that's needlessly high, but you're carrying a large cash equivalent, highly attractive? I've never had £500 or the equivalent in my pocket, ever (max ~£350 for 1/2 hour IIRC).
And cash doesn't break if you sit on it. I'm not entirely convinced of your case quite yet.
If someone steals your phone (you will lose at least the value you paid for the phone) and once they force you to unlock the phone and to hand over the passwords, you will lose:
- as much cash as they can take out before you can access a device that will allow you to freeze the card
you will also be a more attractive target for hacking (especially if you are using Android and your phone is like the vast majority of targets that receives security updates very late or it simply does not receive them)
Seen it happen more than once. Yes, you are smart but so are thiefs
Though I'm extremely privileged now myself, I'm not so far removed that I have forgotten those days when down-to-the-penny accounting mattered. In the US at least, if you had the right education (which sadly many lack), you can live amazingly inexpensively by forgoing many societal conventions and expectations.
Your enhanced security is a box containing more money than you can carry. This box can (most of the times) only be opened with a key but this key is always with you. So whoever steals your force will just force you to open the box
You don't have to outrun the bear.
> and max-spend limits
Ok, now they've got your expensive phone and can spend up to your limit.
Because phones these days are mostly bricks when you steal them. Cash still works.
> Ok, now they've got your expensive phone and can spend up to your limit.
Haha, no, they can't. That's not how any of this works.
But listen, it doesn't matter. Carry cash if you want. I won't. And may the chips land where they may.