Debit vs. Credit Cards

[tallyho8]

One reason to have debit cards if you travel is because, in many European countries I went to, there were many places that would not accept a credit card, only debit cards. They paid lower fees when accepting debit cards. This was most common in the Scandanavian countries.

 

[LD1]

That offer is only good for people who don't have the card already.

I guess when I clicked on your link, I didn't know they knew I already had a card. I didn't log in or anything. I'm just stating what it shows.

If your numbers are indeed factual....I would cancel my current card.....wait as long as they need.....then get a new one.

I keep an eye on current cc promotions. An I never see anything over 2% for everything

 

[RSKY]

Don't know if their offers are regional or what....

But I click the link and it says 1.5% on everything.

5% travel and 3% dining and groceries excluding Walmart. Which is alot of our groceries...

I used to use the chase unlimited freedom card. Still have it actually. But switched to the fidelity 2% card

We also use the Fidelity 2% on everything card. Except for gas, restaurants, and Sam's Club. On those we get more back using the Sam's card. And we use mainly Discover for online for reasons I have forgotten.

As I have said earlier we never carry a balance. Pay it off each month. Over a years time it adds up.

RSKY

 

[Creamer]

Our debit card has protection against unauthorized purchases.

But what is that protection? Most debit cards have some kind of protection but if someone gets ahold of your card and PIN and spends/withdraws funds from your account - your account is slammed shut and you have no access to even the funds remaining in the account until the bank gets things sorted out which is normally about a week. So what do you eat or fill your car with that week.

When it is a debit card and they have your money you may or may not give it back. If it is a fraudulent charge on a CC you have not paid for it and can dispute it with the help of the CC company instead of fighting your own bank.

 

[RSKY]

We only have debit cards, a visa and Mastercard based debit card between our 2 banks.

I'm a cash as I go kind of guy. Sometimes it sucks but hey, it is what it is.

I also have no car loans or a mortgage. Cash is king but I'm sure some here would argue that and say debt is good.

I do not buy anything on credit that I could not pay for with cash. Including all the vehicles I have ever owned except for the first two or three. But if I can buy a vehicle on credit, make payments, and leave my money drawing more interest than I am paying of course that is what I do. If you travel you just about must have a credit card. I think the only motels that will take cash now are the ones that rent by the hour, if you know what I mean.

RSKY

 

[MossRoad]

I guess when I clicked on your link, I didn't know they knew I already had a card. I didn't log in or anything. I'm just stating what it shows.

If your numbers are indeed factual....I would cancel my current card.....wait as long as they need.....then get a new one.

I keep an eye on current cc promotions. An I never see anything over 2% for everything

That reminds me of opening a savings account to get a toaster.

Remember those days?

 

[MossRoad]

But what is that protection? Most debit cards have some kind of protection but if someone gets ahold of your card and PIN and spends/withdraws funds from your account - your account is slammed shut and you have no access to even the funds remaining in the account until the bank gets things sorted out which is normally about a week. So what do you eat or fill your car with that week.

When it is a debit card and they have your money you may or may not give it back. If it is a fraudulent charge on a CC you have not paid for it and can dispute it with the help of the CC company instead of fighting your own bank.

As I mentioned before, we have fraud protection on the debit card. It's been activated a few times in the past. Never took more than a business day to clear up, shut down the card, and get us a new one.

 

[MossRoad]

...I think the only motels that will take cash now are the ones that rent by the hour, if you know what I mean.

RSKY

No. Tell us more.

 

[LD1]

That reminds me of opening a savings account to get a toaster.

Remember those days?

Must be before my time. I suspect I am younger than most people here think

 

[Hay Dude]

Especially when I see a face with a "hog ring" in the nose...........

That has to be the grossest facial accessory of all time. Went out with a bunch of people for NY eve and the hostess had one of those. An otherwise extremely beautiful young lady with…..the hog ring.