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  • 12 votes cast
Oct
15
awarded  Yearling
Oct
10
answered Why buy insurance?
Oct
10
comment Why buy insurance?
It's weird that I had to scroll this far down to see someone mention utility. The important thing is that utility is a nonlinear function of your savings: it should be pretty obvious that one person with two units of cash and one with zero units of cash doesn't equal two people with one unit of cash each—the overall utility is far lower in the former case. There's nothing "intangible" about it.
Dec
3
awarded  Famous Question
Jun
5
awarded  Critic
Jun
5
comment What's the difference when asked for “debit or credit” by a store when using credit and debit cards?
I agree that it depends a lot on the provider, but based on the assumption of a 3% charge on credit transactions, and a 30 cent charge on debit transactions (none on credit), the threshold where debit becomes cheaper is 10 dollars, right?
Jun
5
comment What's the difference when asked for “debit or credit” by a store when using credit and debit cards?
@littleadv I've been having a hard time finding hard numbers on this one. From what I understand there can be a baseline fee for both credit and debit transactions, and credit always charges a flat fraction of the transaction.
Jun
5
awarded  Teacher
Jun
5
answered What's the difference when asked for “debit or credit” by a store when using credit and debit cards?
Jun
5
comment What's the difference when asked for “debit or credit” by a store when using credit and debit cards?
I worry that the Merchants will probably prefer credit... bit is a guess at best, and likely wrong: credit companies often charge merchants up to 3% of every transaction, I image real money for them would trump the conveniences you list.
Jun
3
awarded  Citizen Patrol
Sep
17
awarded  Notable Question
Sep
4
awarded  Nice Question
May
13
awarded  Popular Question
Oct
7
awarded  Supporter
Sep
9
awarded  Editor
Sep
9
revised How can I avoid international wire fees or currency transfer fees?
minor things
Sep
8
awarded  Student
Sep
7
asked How can I avoid international wire fees or currency transfer fees?