RE: Is Using A Debit Card vs. A Credit Card Really That Bad?
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 2/21/2010 1:46:38 PM
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SurpassingPeace
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Hmm, my parents have used and paid off their credit card in full each month for years, I think 9 years. They have never had any of those problems.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 2/21/2010 3:26:05 PM
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SurpassingPeace
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I should say, we also use credit cards, not to the same extent as my parents, and I have never had problems. But we actually read the terms and changes when they send them.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 2/21/2010 7:46:55 PM
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kernsfamily
Posts: 517
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From: Dallas (originally Detroit)
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quote:
ORIGINAL: Mollymouser
quote:
ORIGINAL: kernsfamily
if you've figured out a way to not get ripped off...great...iam glad for you....but, one day someone just may be coming to break your knee caps....it's what happens to many who try to play "the game"....
Do you seriously believe that credit card companies are breaking cardholders knee caps?!?! Perhaps the Conspiracy Folder in Current Events would be a more suitable place for these sorts of conspiracy allegations?
Just a slight "embellishment" on my part.
While they may not literally do that.....it can certainly seem like that...
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 2/22/2010 7:55:50 AM
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macokjc
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quote:
But using a credit card is not debt for everybody. My parents use a credit card for every single purchase. They get money back in rewards, extended warrenties, easier to dispute if there is a problem, a statement at the end of the year that breaks down everything they have spent, and really many more benefits. Here is the key. They pay that card off in full, every single month. It is not debt to them.
Totally agree - my parents use to put my siblings college bills on their credit cards, then pay it at the end of the month. That way they got huge rewards - either cash back or free airline tickets.
I have a debit/visa card - which I always run through as debit. I like it because it is accepted at the places that plain old debit cards are not accepted at. (Do those plain old MAC cards even exist anymore?) How does that work with protection, though? I have also heard that a credit card offers better protection - especially from theft or identity theft. For instance, if somebody steals and uses your bankcard, you are liable for the charges, but if somebody steals your credit card, you are only liable for a certain limit.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 2/23/2010 7:48:25 AM
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Galilee
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quote:
ORIGINAL: thebaker
i've heard him say the same thing about debit cards being as safe as credit cards. waaaaaay back when when i didn't have a credit card, all i used was a debit card. never had a problem. anything you could do with a credit card, i could do with a debit card. i've rented cars, bought plane tickets, rented hotel rooms, did cruises...you name it. and according to a friend, you're not supposed to be able to get a cell phone contract without a cell phone. i never knew that. so when she asked how i got a cell phone without a credit card, i looked at her strange and told her that i have a debit card.
and i've never had anyone take extra money from my account to cover costs. the only thing i don't do is buy gas because i've heard many people say gas stations will take out more to cover what you might buy and then take forever to return the money you didn't use.
but i've noticed a trend...banks seem to be having customers hit the credit button when using the debit card instead of the debit button. with credit, there's no cost to use the debit card. with debit, there is a cost. i'm certain that has to do with money in someone's pockets.
I would hope not! That would be a real rip off ! 
I know it's a typo, but I was laughing as I read it and wondered why no one else had mentioned it.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 2/23/2010 8:08:36 AM
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Galilee
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I "know" enough about Molly from the old Crown days to believe she is doing it right. I will point out 2 things, however.
1) I have heard over and over that people who use credit cards spend 15% more than if they used cash. Now, in all fairness, I have never seen an actual study on it, but Larry Burkett and Dave Ramsey both mention it. So, if you spend $115 instead of $100 at a store, are the rewards (cash back, airline tickets, etc)really worth anything?
2) In one of Larry Burkett's books (I have several, not sure which one, he mentions that when he would counsel people on the dangers of using credit cards, they would ask him if he used them or not. His response was "Yes, but I use them wisely". The people he was counseling would then say "well then I will use them wisely, too". He decided to try to get by without using them (so he could tell his counselees that, no he doesn't use them. He said he went 20 months without using them. (Not sure what he did after 20 months).
Of course, there are ways to beat the system. I got a deal from a credit card company that had a $55 annual fee, but the first purchase gave me extra miles (5000, 10000, I don't remember). Well, that was enough to get me over the hump for an airline ticket, and we were going to Florida that year anyway. So, I got the card, paid the fee, made 1 purchase, paid it off, and got an airline ticket to Florida for $55. I closed the card before the fee came up again a year later, And, I don't believe I ever used the card again. Credit card companies hate people like that, but too bad for them, I say.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 2/23/2010 4:48:29 PM
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Mollymouser
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From: california, land of the happy cows
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quote:
ORIGINAL: Galilee
I "know" enough about Molly from the old Crown days to believe she is doing it right. I will point out 2 things, however.
1) I have heard over and over that people who use credit cards spend 15% more than if they used cash. Now, in all fairness, I have never seen an actual study on it, but Larry Burkett and Dave Ramsey both mention it. So, if you spend $115 instead of $100 at a store, are the rewards (cash back, airline tickets, etc)really worth anything?
That's where having a detailed, written budget comes in handy. If it's not in the budget, we don't make the purchase (using a check, credit card, or cash ... it's all the same to us.)
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 2/27/2010 9:02:27 AM
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A-Mighty-Oak
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quote:
I have a debit/visa card - which I always run through as debit. I like it because it is accepted at the places that plain old debit cards are not accepted at. (Do those plain old MAC cards even exist anymore?)
I can still use my non-debit card for pos transactions. My bank doesn't charge me anything for them either.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 2/28/2010 11:44:51 PM
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Pamsy
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quote:
ORIGINAL: Mollymouser
We make thousands of dollars in cash back from our credit card ~ and we've never paid one finance charge or one cent of interest on it. To me, that's good stewardship.
Care to share which credit card lets you do this. ? 
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/1/2010 12:13:36 PM
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magenta28
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I personally like using debt cards, however recently we tried to rent a car with a debit card at Alamo
When my card was swiped I was informed that my credit score was not high enough and a credit card was necessary to secure the rental car. This was the policy at all of the rental car places throughout my city and at the airport. There was one company willing to take a debit card, but only if you had roundtrip travel tickets by boat, plane, or amtrack train.
I am glad we did have a credit card if not, we would not have been able to travel.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/3/2010 11:41:32 PM
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PROVERBS23AND7
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Between CC companies and the almighty FICO score, they have completely brainwashed America. I work for a man who has an approximate net worth of over $100 million and he does not own a CC and has never owned one. I wonder how he made it without the almighty plastic.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/4/2010 9:20:25 AM
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delaney
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I use a debit card for all of my purchases, and keep $1000 in my savings linked to my checking account for any emergencies that I would normally use a credit card for (car repairs, emergency room visits, etc.) I don't own any major credit cards, because I know I would be tempted to use them for large purchases RIGHT NOW instead of saving for them like I do now.
However, I do have a few retail cards like Best Buy, Rooms to Go, Home Depot, but only pull them out for planned purchases in which I can pay off with no interest over time (those specials they run). I don't carry them around with me either. In each case, I've paid off each amount without incurring any interest, and in the meantime, have maintained a good credit score.
It's all about judiciously planning for major purchases with my retail credit card use. If some bank wants to loan me $1000 for a new TV with no interest, who I am to deny them that? :) But I ALWAYS keep the money in savings so I can pay off right away if necessary, and emergencies are funded by my savings. As such, I've not had a major credit card in 4-5 years, and I LOVE it.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/8/2010 9:32:31 AM
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GraceyGirl
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We use our debit cards for EVERYTHING. . .and I mean everything. We bank with NFCU (fed credit union for military) and have NEVER had an issue. However, our checking acct is linked to our NFCU credit card, AND NFCU offers us fraud protection.
However, when I travel - albeit business or pleasure - I use my PayPal Master Card and here's the reason why;
While PayPal is linked to my bank account and credit card, the people who "swipe" it don't have access to those accounts and cannot "freeze" or "hold" anything against those accounts. My CC statements reflect ONLY the charges, no holds. Same with my checking account statements. I can buy online, reserve online, no issues. I've bought plane tickets, rented cars, paid for hotel rooms, etc.
Personally. . .I think Paypal has revolutionized buying for consumers, and I can't say enough about them.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/14/2010 12:57:53 AM
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BlueAdept
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Ok to answer the question asked.
1. Debit Cards - the money is out of your account, by "law" they have 10 BUSINESS days to put it back if you dispute it. However, if a mistake is made the money is still gone. If after a set period you can not prove you didn't make the purchase, they will reverse that deposit out of your account. They will send you a letter, and you will not see it unless you bank online daily, until the letter comes. If you do not keep a large balance, that will result in an overdraft and likely more after that as well.
2. Debit Card - If you do business with a company that follows the AVS (address verification service) which is a Protection for them mainly and not as much for you, and they run a charge that rejects the address (due to a zip code, or any other reason.) that transaction places a 10 day hold on the cash. So if you purchase a $1000 order and they fail to get your "billing address" but run the card, you have an authorization for $1000 but they cannot get the money. So they have to call you to get the right address, now they have $2000 held on your account. They can release that hold, IF the bank gets a letter telling them to release it AND the company is willing to take that step. But they may NOT even know they are holding the additional $1000. So if you have a $2500 balance and think you will be alright, a check for $501 is presented, it will be returned NSF - a Big mess.
3. Disputes - When Jetblue folded, I had a friend who had purchased tickets with a debit card. Had they used a credit card, they could have filed a dispute and would have had their account credited fairly quickly. However I do not think they ever got their money back, but nor were they able to fly. They had to wait until the flight didn't go, which was more than 60 days after the purchase, so the dispute window was then closed. I do not know how it ended for them, but I know people who CHARGED tickets didn't lose money. This vacation ended up not happening, because they used a debit card. Caveat Emptor
Lastly banks want you to use the debit cards, because they make money on them. Credit cards charge businesses anywhere from 2.4% to 3+% for running a CC. If you run it as a debit card, that business only pays about 40 cents total to run the card.
You the card holder have protections with the credit card, some banks are giving the same protections to their debit cards, but NOT ALL DO.
Most times businesses that mess up will cover the charges and fees you pay, but they do not always.
Dave is correct in that you can live without credit cards, you just have to know the perils of running a "fake visa/master card" verses the real deal. Personally I use cash for most of my purchases, and will use credit cards once in a while. I do not carry a debit card, mainly because of the lack of buyer protection offered. I have seen too many mistakes made on the processors and businesses sides to feel comfortable with using them.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/14/2010 4:56:09 PM
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A-Mighty-Oak
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One of my biggest concerns is that I live paycheck to paycheck, so a hold on my money could cause a real lot of problems for me.
Also, I did not realize that Jetblue folded at all, I thought that they were still in Business, last time that I checked anyway.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/15/2010 11:47:02 AM
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reach
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I bought shoes for my wedding and had a dispute. I paid with my debit card and the bank (bank of America) told me that I would have had more rights if I had used my Credit Card, so I used my Credit Card for these purchases now.
I also buy somethings on Ebay and Amazon, and I would not want my account billed wrong, and lose cash, so I prefer to use a cc.
Another thing is that when we make big purchases we use cc and get 0% interest. That way I can pay big chuncks each month, but get some interest on my own money before we pay it off. But very rarely do we us the credit card if we don't have cash. If we do, we pay it off ASAP!
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/15/2010 11:54:40 AM
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laura...
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If you rent a car use a credit card. The last time we rented a car we used our credit card. We hit a deer with the rental car and it did a significant amount of damage. Our car insurance covered all of the repair except for a deductible. Because we used a credit card, VISA paid the deductible.
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/21/2010 4:45:52 PM
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kernsfamily
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quote:
Dave is correct in that you can live without credit cards, you just have to know the perils of running a "fake visa/master card" verses the real deal. Personally I use cash for most of my purchases, and will use credit cards once in a while. I do not carry a debit card, mainly because of the lack of buyer protection offered. I have seen too many mistakes made on the processors and businesses sides to feel comfortable with using them.
yes..the credit card companies, and their lobbying, has done a great job enslaving us to THEIR cards....playing by THEIR lopsided rules....in order to make THEM money....
the closest thing to a criminal enterprise that I've ever seen...and still be considered "legal"
quote:
If you rent a car use a credit card. The last time we rented a car we used our credit card. We hit a deer with the rental car and it did a significant amount of damage. Our car insurance covered all of the repair except for a deductible. Because we used a credit card, VISA paid the deductible.
and, yet, WHAT IS THE DIFFERENCE???? A CARD IS A CARD IS A CARD!!!! (at least that's the way it should be!)
but, no...a "credit card" has much more "ability" to enslave you....the card companies have little power over a 'debit' card user....so, they "stick it to them"....they know if i open up a credit card account, they will find a way to extort money out of me...(as they did in the past!)....
again....another way those companies entrap people into taking on their "products", and being enslaved to THEIR lopsided rules...and, it's all to ensure they keep on making the money they do....
< Message edited by kernsfamily -- 3/21/2010 4:53:18 PM >
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/21/2010 4:56:21 PM
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kernsfamily
Posts: 517
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quote:
I bought shoes for my wedding and had a dispute. I paid with my debit card and the bank (bank of America) told me that I would have had more rights if I had used my Credit Card, so I used my Credit Card for these purchases now.
that's "code" for "YOU didn't use the method of payment that would have made us the most money!"...and, made it POSSIBLE for us to charge you INTEREST on that purchase....(of course, everyone pays their bills on time...in full...yada yada yada)....
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Proud dad of 3 great girls....Blessed to have all of them in a "totally awesome" public elementary school!
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/21/2010 11:22:34 PM
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A-Mighty-Oak
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I found this article interesting: 10 places not to use your debit card
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RE: Is Using A Debit Card vs. A Credit Card Really That... - 3/21/2010 11:43:34 PM
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kernsfamily
Posts: 517
Joined: 4/26/2006
From: Dallas (originally Detroit)
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quote:
ORIGINAL: A-Mighty-Oak
I found this article interesting: 10 places not to use your debit card
Yeah...as it's written it's basically you are not to use a debit card ANYWHERE...
the article is written and paid for by the credit card industry.
funny thing is...none of those "horror stories" has EVER happened to me....in the past 7+ years that we've been entirely "credit card free"....
now...i could tell you dozens of "horror stories" from the days when I thought having a credit card was a "necessity" in life...and I let them rule my life....but, that's another story...
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I no longer spend on wants, but needs only because I think before I purchase "Do I have the money for this or not?" If not, I don't spend..if I do, well I weigh the cost more carefully than I otherwise would have if I had a credit card still. 
Let freedom ring...let the whole world sing...it's independence day!!!! 
