If nothing else, credit/debit – asset/liability should be taught right alongside standard math.
It’s what is used most often in the adult world and humans are woefully unprepared.
Oh that’s different. I mean accounting credit / debit (double entry bookkeeping).
But yes, hotels, gas stations, restaurants do a weird thing where they place a “hold” on your credit. It stays “open” until the transaction is complete, which is usually long after the actual use of the card.
It’s awful and it catches AMERICANS off guard too.
Unfortunately, unscrupulous business people sometimes take advantage of this “authorization hold” and will ADD charges you did not make.
So a bad hotel might claim you had room service you didn’t get. Or a bad gas station might charge you for gas you didn’t get.
Thankfully, US banks are very good at handling fraud and return your money within a week or so. But you have to NOTICE the fraud and tell the bank.
Yeah, a lot of places don’t like cash. They want to hold your credit hostage until THEY are ready to release it.
It’s a bad system and should be illegal.