Everytime I interact with Banks it give me new reasons to prefer Crypto solutions and this time when I wanted to own a credit card and faced this unexpected situation.
let's talk about how that happened and how credit cards aren't meant for everyone and the way things work in details.
Navigating The Maze to Access Credit Cards
I wanted to get a Credit Card from bank and for that I've to create a bank account first since I never had one before.
To open a new Bank y'all need to provide those info and documents... All fine and Good until I heard to get a credit card there's a criteria which is absurd imo.
See those plenty of requirements you need to be eligible for credit card? The part where they want salary proof of at least 50k every month is something not majority of people have. So, it means credit cards can be rarely owned by a middle class person.
To Pay for Online Purchase
The only purpose I've behind owning a credit card was making a purchase online on installment with 0% markup like it has no Interest Rate.
With interest that thing becomes 2x more expensive and doesn't make sense to pay twice more for same product rich can buy with 0% markup.. this criteria does create a difference of class and helps particular group (rich) while rest have to find alternative.
I do have Debit Card which was easy to get but this credit cards process is whole lot complex, first they want statement of salary which should be above 50k per month and regular meanwhile mine isn't a fixed income. I guess many such cases who want to own credit card but doesn't meet criteria.
Crypto Fixes it all
Crypto solves these all things and remove the whole "criteria or requirement" part.. these banks have started charging Taxes for keeping funds in account, Withdrawal funds and even depositing funds.
Calling every deduction a fee or adjustment.
While In crypto we're truly our own bank where we notice each and every detail where crypto is better from all these banks, credit cards and financial system in most matter.
Image that part where crypto asks you to show salary slips in order to make Money by trading or whatever you wanna use... or asking for hefty load of documents.
There are CEX and Dex made for both of people who wanna prefer their privacy or doxx it's always a choice not a requirement.
I've minimized all my usage related to bank in real life other than exchanging money I don't even keep in bank cuz they charge and Local Currency depreciation is another thing.
wrapping Up
So, in the end for me it's always Crypto as a solution while banks being hurdles in my way, pushing me back and not treating equally.
I wonder how strict or better things are in your side.. would love to hear your thoughts in the comment.
