Really...
So when we opened our bank account in Paris, we realized they have a lot of fees for opening the bank account. Apparently that's normal.
Fees for the debit card, fees for insurance if you lose your debit card and money gets withdrawn, etc...
Free for the first year and not much per month on the second year, I think it's EUR10 per month after the first year. Maybe we could get it waived, I'm not sure, I won't think much about it for now...
Anyway, about credit cards. I was asking the mobility agent who was helping us with our move cos I was confused. Cos we needed to pay for our debit card and we can withdraw money from our bank and use VISA transactions.
So I asked. What about credit cards? I hoped maybe there would be stuff like credit card promos like at home...
And she said... "Oh no, we don't have credit cards."
And I was like... "What do you mean? You mean they don't exist in France?"
And she said... "Yep they don't exist."
And I was pretty mind blown...
OK I did some read up on this... apparently there ARE credit cards available in France, just that it's not common. As in, it's very very very rare.
The use of credit cards in France is substantially less than in the U.S. The average credit cardholder in the U.S. has 3.7 cards as of 2018, and 7 percent of Americans hold seven or more. This compares to France, where individuals have a less than one credit card one average and a much more conservative attitude towards debt. It can be difficult to get a French credit card as the application process is so stringent.
-https://pocketsense.com/do-french-credit-card-6904859.html
And I thought it was pretty cool. It potentially discourages over consumption. People don't get into as much debt trouble. Overall probably a good thing for the general population.
Like... why DO people need credit cards in the first place? Who ever thought that it was a good idea to spend money that they don't own? I can understand bank loans for businesses or mortgages. But for personal consumption?
Are credit cards really necessary in our current society/economy??
Aren't debit cards good enough?
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