Because the vast majority of people use credit cards without messing up their lives?
I suspect most people don’t even need them but use them for cash back and consumer protection.
For people who do need them, there’s nothing inherently wrong with buying something and spreading the cost or paying for it later in return for paying some interest. Most people who do that won’t get into any trouble.
There are a hundred legal but potentially dangerous things that should be banned before credit cards if you want to go down that route. Start with guns, processed food, alcohol and social media perhaps?
> I suspect most people don’t even need them but use them for cash back and consumer protection.
Then make a debit card system with cash back and customer protection.
And kill a system that screw people with useless debts when there is no need for it.
Btw
> Because the vast majority of people use credit cards without messing up their lives?
You never know where life bring you. I can certify you that "good", "honest", "responsible" people can also get screwed under a mountain debts because some unfortunate life circumstances brought that on them.
Setting aside the cash back, which is frankly superfluous and plausibly nets negative, the credit is the active ingredient of the consumer protection, specifically the property that when something unusual happens, you still have full access to all of your rightful funds and retain full leverage while bringing your dispute. If card-issuing bank for Some Reason fails to respond to you at all for a month, it's their problem that they're short that money because it's still in your accounts, must of the time minimizing the impact on your day-to-day finances to bricking the one credit line.
> This system just make that much easier.
What are we comparing it to? Inaccessibility of credit comes with its own issues, and predatory loans can get a lot worse.
> Then make a debit card system with cash back and customer protection. And kill a system that screw people with useless debts when there is no need for it.
The debt is inherent to making the consumer protection work: the card issuer doesn't and can't take your money, they can only create a debt and ask you to repay it, and if you didn't get what you paid for you can dispute the billing before a penny leaves your account.
Guns and alcohol banned in Europe? That will surprise my hunting, schnaps-drinking grandfather. My gun-smithing hometown and the people at the Glock factory will be shocked.
I will need to tell them.
Jokes aside: guns are regulated where I am from, they are not banned. That means you have to have a weapons license and store guns properly. That license can be revoked and the guns taken if you have shown to be not mature enough to carry them, by e.g. threatening people or acting unresponsibly with guns. Xertain guns require special permits or expertise to be handled. And if you wanna shoot with LMGs, enter the military. Sounds reasonable right?
And alcohol? Legally we are allowed to drink beer at 16, hard alcohol at 18 — how is it at your place?
I suspect most people don’t even need them but use them for cash back and consumer protection.
For people who do need them, there’s nothing inherently wrong with buying something and spreading the cost or paying for it later in return for paying some interest. Most people who do that won’t get into any trouble.
There are a hundred legal but potentially dangerous things that should be banned before credit cards if you want to go down that route. Start with guns, processed food, alcohol and social media perhaps?