Fezmid Posted October 5, 2004 Share Posted October 5, 2004 Which is better? NEITHER! As a couple of other posters pointed out, you should NEVER use your bank card when making a purchase, not even for small ticket items. They're VERY dangerous and offer no benefit to you, only to your bank. If someone steals your card and makes a purchase, the money is instantly taken out of your account! Also, you're generally not offered the same protections as you are with a real credit card, meaning you may really be out that entire amount of money. At the very least, it'll take a couple of months to get back. ALWAYS ALWAYS ALWAYS use a credit card. Even if you have one card for purchases that you're not sure you'll be able to pay off, keep one card that you ALWAYS pay off every month. It's the safest thing to do. http://clarkhoward.com/library/tips/credit_cards.html CW Link to comment Share on other sites More sharing options...
aussiew Posted October 5, 2004 Share Posted October 5, 2004 Absolutely. GET THE MILES! I started doing that for everything I purchased about 3 years ago. That's how I got free flights for the opener and training camp this year and also got to Jamaica for my son's wedding. LOVE THOSE POINTS. Link to comment Share on other sites More sharing options...
stevestojan Posted October 5, 2004 Share Posted October 5, 2004 Which is better? NEITHER! As a couple of other posters pointed out, you should NEVER use your bank card when making a purchase, not even for small ticket items. They're VERY dangerous and offer no benefit to you, only to your bank. If someone steals your card and makes a purchase, the money is instantly taken out of your account! Also, you're generally not offered the same protections as you are with a real credit card, meaning you may really be out that entire amount of money. At the very least, it'll take a couple of months to get back. ALWAYS ALWAYS ALWAYS use a credit card. Even if you have one card for purchases that you're not sure you'll be able to pay off, keep one card that you ALWAYS pay off every month. It's the safest thing to do. http://clarkhoward.com/library/tips/credit_cards.html CW 57131[/snapback] Dude, what are you talking about? i use my Debit card AT LEAST 3 times a day. I dont like to carry cash, and I dont have Credit Cards. What do you want me to do? write a damn check every time i buy a sub or a pack of smokes? Link to comment Share on other sites More sharing options...
Paco Posted October 5, 2004 Share Posted October 5, 2004 Absolutely. GET THE MILES! I started doing that for everything I purchased about 3 years ago. That's how I got free flights for the opener and training camp this year and also got to Jamaica for my son's wedding. LOVE THOSE POINTS. 57182[/snapback] Why, I think you even shared those miles with other TBDers, didn't ya Gidge? Link to comment Share on other sites More sharing options...
aussiew Posted October 5, 2004 Share Posted October 5, 2004 Why, I think you even shared those miles with other TBDers, didn't ya Gidge? Sure did Paco! And I'm starting to build them up again. I've got hotel points as well. Always happy to share with a fellow Bills fan. Steve: If you were using a "points earning" credit card 3 times a day instead of your debit card, you'd have more protection AND you'd be earning points toward something. As long as you have the disclipine to monitor your purchases and pay it off each month. Link to comment Share on other sites More sharing options...
stevestojan Posted October 5, 2004 Share Posted October 5, 2004 As long as you have the disclipine to monitor your purchases and pay it off each month. 57276[/snapback] and therein lies the problem. Link to comment Share on other sites More sharing options...
aussiew Posted October 5, 2004 Share Posted October 5, 2004 and therein lies the problem. Aaaaaaaaah - the joy of youth! Link to comment Share on other sites More sharing options...
sweet baboo Posted October 5, 2004 Share Posted October 5, 2004 I lived off of my credit card all throughout college...always paid it off in full at the end of the month...i just hated carrying cash around and all these damn coins...cash back is also nice have near perfect credit at age 24 always refused the check card offer...i like to keep my money earning interest until the end of the money...better than nothing Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 5, 2004 Share Posted October 5, 2004 Rico, this especially sucks if you check your balance all the time like I do. And its especially true if you get gas and select CREDIT. They will take $1.00 exactly from your balance immediatly, and then charge the rest at a later time. I like the money to come out right away, so if they give me the option (and some stations dont) I always select debit. 56204[/snapback] I assume you are talking about the $1.00 "ping" to see if money is in the acount. I mentioned it before, somebody has to be getting rich off this? My understanding is they "ping" your account the buck. Then a few days later when the full tansaction clears, the dollar is put back. I have noticed that the dollar gets put back after the transaction... sometimes a day! Now times that by millions of users... Money has got to be made on it??? Some banks charge .25 for debit transactions. If you choose credit (usually the debit will read, you have to press cancel, then select credit), the 25 cent fee is not charged. Basically, my understanding is that as debit, you are signing with a PIN... As credit, you sign your name. My one bank checking account does everything real time, immediately. Now my other acount (small local bank) is a day behind with everything. There are benefits to both. Boy, they sure like to make the "float" hard to do nowadays!! With the advent of EFT check clearing that a lot of places use... What happened to the good 'ole days?... Everybody wants their money NOW... Link to comment Share on other sites More sharing options...
Boatdrinks Posted October 5, 2004 Share Posted October 5, 2004 Steve: If you were using a "points earning" credit card 3 times a day instead of your debit card, you'd have more protection AND you'd be earning points toward something. As long as you have the disclipine to monitor your purchases and pay it off each month. 57276[/snapback] As I pointed out earlier, you CAN get a debit/check card that earns miles. Forget the credit card for everyday purchases. Too easy to put it off and find yourself in a hole. The check card IS a great convenience and most of them offer similar protections for stolen cards these days. B) Link to comment Share on other sites More sharing options...
Fezmid Posted October 5, 2004 Share Posted October 5, 2004 As I pointed out earlier, you CAN get a debit/check card that earns miles. Forget the credit card for everyday purchases. Too easy to put it off and find yourself in a hole. The check card IS a great convenience and most of them offer similar protections for stolen cards these days. B) 57592[/snapback] Want to know why you shouldn't use a debit card for *anything*? (Steve, LISTEN UP!) My wife and I went to Vancouver for a few days and then took an Alaskan cruise back in June. When we got back, I looked at my bill. Either Visa or the hotel double-charged us for the room (both pointed fingers at the other), and they double-charged me for mini-bar usage which we never used. Total overcharge? Roughly $700. Do you want that $700 out of your checking account? Or would you prefer it to be on a credit card, where you don't have to pay it until the dispute is solved? Get a credit card, and *pretend* it's your bank account. What's the big deal? Hell, you could probably pay it off online every day or two if you want. And because I charge most of my bills to my credit card (phone, electric, DirecTV, cell phone, etc), I usually end up getting a $25 Amazon gift certificate every month. Great protection *and* great rewards? Can't beat it. CW Link to comment Share on other sites More sharing options...
stevestojan Posted October 5, 2004 Share Posted October 5, 2004 Get a credit card, and *pretend* it's your bank account. What's the big deal? CW 57871[/snapback] Fez, sorry you had a bad break. Things like that happen. But, your advice to get another CC and "pretend"... that's alot easier said than done. I know, self control - blah, blah... its just too easy to fall back in that trap. No thank you. Link to comment Share on other sites More sharing options...
Fezmid Posted October 5, 2004 Share Posted October 5, 2004 Fez, sorry you had a bad break. Things like that happen. But, your advice to get another CC and "pretend"... that's alot easier said than done. I know, self control - blah, blah... its just too easy to fall back in that trap. No thank you. 57877[/snapback] Then why not pay it off daily or weekly? Or hell, write it out of your checkbook register instead. Seems crazy to me to risk your finances because you can't keep track of how much cash you really have? Not trying to judge or be condesending; I just don't get it. Then again, I"ve always had a good financial sense; hell, when I was a kid, I lent money to my parents and charged 'em interest. I've always known the value of a buck To each their own CW Link to comment Share on other sites More sharing options...
Corp000085 Posted October 5, 2004 Share Posted October 5, 2004 I say IF because many stores such as Wal Mart have stopped allowing these transactions Not exactly true. They just smartened up. If you swipe your card, it will ask for your pin number. If you hit cancel, then it brings up the options to select credit, cash, or debit. I guess they figure that a large percentage of people will just type their pin in and not think twice about it. Link to comment Share on other sites More sharing options...
Boatdrinks Posted October 6, 2004 Share Posted October 6, 2004 Not exactly true. They just smartened up. If you swipe your card, it will ask for your pin number. If you hit cancel, then it brings up the options to select credit, cash, or debit. I guess they figure that a large percentage of people will just type their pin in and not think twice about it. 58151[/snapback] Check again. Wal Mart DOES NOT ALLOW the purchase. They have a sign right on the keypad that says they will accept a debit card purchase only with PIN. Plus I knew it was going to happen as I read it in USA today. Most stores you CAN override the PIN request. It does come up to the PIN request automatically. But in a highly publicized move, WAL MART was unable to reach a good deal with the Card companies for Debit card transactions enetered as credits, so they decided to discontinue making them. I imagine some other chains have followed suit. B) Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 6, 2004 Share Posted October 6, 2004 Check again. Wal Mart DOES NOT ALLOW the purchase. They have a sign right on the keypad that says they will accept a debit card purchase only with PIN. Plus I knew it was going to happen as I read it in USA today. Most stores you CAN override the PIN request. It does come up to the PIN request automatically. But in a highly publicized move, WAL MART was unable to reach a good deal with the Card companies for Debit card transactions enetered as credits, so they decided to discontinue making them. I imagine some other chains have followed suit. B) 58515[/snapback] Wow... Really! I'd just walk out without the purchase. Like I said before some banks will charge you a fee for debit purchases... Which I think is absurd! Just go back to writing checks. Link to comment Share on other sites More sharing options...
Boatdrinks Posted October 6, 2004 Share Posted October 6, 2004 Want to know why you shouldn't use a debit card for *anything*? (Steve, LISTEN UP!) My wife and I went to Vancouver for a few days and then took an Alaskan cruise back in June. When we got back, I looked at my bill. Either Visa or the hotel double-charged us for the room (both pointed fingers at the other), and they double-charged me for mini-bar usage which we never used. Total overcharge? Roughly $700. Do you want that $700 out of your checking account? Or would you prefer it to be on a credit card, where you don't have to pay it until the dispute is solved? Get a credit card, and *pretend* it's your bank account. What's the big deal? Hell, you could probably pay it off online every day or two if you want. And because I charge most of my bills to my credit card (phone, electric, DirecTV, cell phone, etc), I usually end up getting a $25 Amazon gift certificate every month. Great protection *and* great rewards? Can't beat it. CW 57871[/snapback] Well, I usually check the receipt before I sign it. A double charge or erroneous drink charges should be easily spotted and disputed on the spot. I do NOT use the check/debit card when on vacation out of the country. There I will use the credit card as you do not need any hassles on vacation. The last thing I want to be doing is sitting on some beach in St.Maarten waiting for a phone call from the bank. But for every day purchases at home, it works just like my checking account without the annoyance to myself or others waiting in line of trying to get a check approved. I don't see any difference between this or a check, just easier. I guess I'm just averse to running up a credit card bill, because I tend to live for the moment. Just have to "know" yourself I guess. B) Link to comment Share on other sites More sharing options...
Fezmid Posted October 6, 2004 Share Posted October 6, 2004 Well, I usually check the receipt before I sign it. A double charge or erroneous drink charges should be easily spotted and disputed on the spot. The receipt only listed one charge; and there were no charges for the mini-bar, they added those later. The hotel claims that Visa processed it twice, and Visa claims that the hotel submitted it twice. *shrug* tRegardless of whether you prefer to use a debit card or a credit card, there's no disputing the fact that using a debit card is MUCH more dangerous than using a credit card. CW Link to comment Share on other sites More sharing options...
Rico Posted October 6, 2004 Author Share Posted October 6, 2004 Well, I usually check the receipt before I sign it. A double charge or erroneous drink charges should be easily spotted and disputed on the spot. I do NOT use the check/debit card when on vacation out of the country. There I will use the credit card as you do not need any hassles on vacation. The last thing I want to be doing is sitting on some beach in St.Maarten waiting for a phone call from the bank. But for every day purchases at home, it works just like my checking account without the annoyance to myself or others waiting in line of trying to get a check approved. I don't see any difference between this or a check, just easier. I guess I'm just averse to running up a credit card bill, because I tend to live for the moment. Just have to "know" yourself I guess. B) 58528[/snapback] That's pretty much the way I use it. Writing checks in stores??? Nothing worse than waiting in-line at the grocery store while someone ahead of you is writing a check. :I starred in Brokeback Mountain: Except waiting in-line at the liquor store while some lottery loser is picking numbers. :I starred in Brokeback Mountain: :I starred in Brokeback Mountain: Link to comment Share on other sites More sharing options...
Just Jack Posted October 6, 2004 Share Posted October 6, 2004 Something I learned while working retail many years ago, and is good to remember during the Christmas shopping season. Cash is always fast, credit second, checks are last. And if you're going to write a check, start filling in the store name, date, and your signature, before you get to the cashier. Link to comment Share on other sites More sharing options...
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