Yet another useless piece of "research"

[Dr Mordrid]

10:1 that John Q. Taxpayer paid for this useless POS...

Link.....

Study: Credit Cards Cause More Spending

If you're trying to save money, leave your credit cards at home and pack cash only.

A four-part study found what many financial planners already knew: People spend more money when using credit cards compared to cash purchases. People also spend less when they look at their expenses in detail, the researchers found.

Consumers simply feel the pain of paying more when they part with cash, the researchers, led by Priya Raghubir at New York University, write in the September issue of the Journal of Experimental Psychology: Applied.
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[MultimediaMan]

No shit?

[Brian Ellis]

D-U-U-U-H!

[Fat Tone]

Come on, this sort of thing keeps Psychologists in jobs!

[Brian Ellis]

Psychologists and psychiatrists are self-perpetuating species. The more there are, the more you need, especially to treat psychologists and psychiatrists.

[Marshmallowman]

Well sometimes you need to prove the obvious, I am sure banks will quite happily insist there is no correlation and then try to reduce cash points etc, so people have to use their plastic.

Kind of like tobacco companies insisting smoking is not related with lung cancer.

[az]

I'm with Marshmallowman.

[Nowhere]

btw, last time I was changing details of my net acces to account...bank employee in a most charming, convincing way was trying to persuade me that my day limit on net transactions is definatelly too low.

[UtwigMU]

What limit on net transactions?

I mainly use credit card for online purchases, air tickets. I sometimes use it to transfer payments into next month since there's no interest besides yearly membership, while I do pay interest on minus on my main account. It's a card where you pay your spendings each month in full. I would never have USA style spend as much as you want and pay revolving credit card.

Through work I've seen some institution that borrows money to people bank wouldn't. Mainly people without regular employment (grey economy) or with minimum wages. It's micro loans, few 100€ and the interest is awful: 10% a month, 100% a year. They have lots of business.

[Dr Mordrid]

Our bank and credit card companies offer no-fee faux-credit cards for online use. Like the Pay-Pal Plugin, which we also use, they generate single-use card numbers & expiration dates. Very handy and really no need for an 'online limit' for the real cards. In addition to this our bank will also give us as many free physical pre-paid gift cards as we need. These are functionally identical to a Master Card.

[Nowhere]

Utwig - daily limit on transfers to other accounts that you set yourself, similar to the daily limit of cash withdraval from ATMs/payments with a card in shops/etc.

Anyway, mine weren't/aren't that small really; it's just this topic reminded me of how hard bank employee was trying to convince me to raise them
Might be somewhat related...

[UtwigMU]

Here two big clubs have ATMs inside. Really hard not to order another round .