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Location: God's Gift to Mankind for flying anything
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Quote:
Originally Posted by southernnaturelover
Don't ever use a debit card at a restaurant where you hand it to your server and let them take it to the register. I assume when they got my card they took a pic of the front and back, and then went online and ordered about $2k in merchandise.
Are you trying to tell me *they* can not do the same thing with a credit card ?
Quote:
Originally Posted by Pfalz
The other problem with a debit card is you are leaving the 2% cash back on the table. Some cards are even higher than 2% for certain transactions.
Can you eleborate on that which bank does that ?
I have an App on my phone which is protected by my finger print.
I just tap the icon, swipe my finger and a few seconds later I can see my balance.
I have never seen 2% cashback deducted. I have never paid for drawing cash from an ATM that is owned by the back which *owns* my Debit card.
Any other ATM, yeah, they charge me for drawing cash.
Quote:
Originally Posted by Pruzhany
A Debit card is connected to a checking account which basically gives it a daily limit.
I assume, by *daily limit*, you mean the amount I have left, in my checking account ?
If yes, then that is exactly why *I* use a debit card and NOT a Credit Card.
This allows (or makes) me to live within my means ... ?
Except for monthly recurring utility expenses and a mortgage, I do not have any credit card depth per se.
No car payments, no credit card minimum payments (I just pay what they say I owe). That credit card payoff each month comes out of my savings account especially kept for that purpose !)
Somebody above mentioned the fact that a debit card is nothing more than a digital check (or something to that idea).
I agree wholeheartedly because I am old enough to remember to painfully write the check while everybody else in line was waiting (im)patiently for you to finish writing it up ... And then you had to do some book keeping (at least I did that on the left side of the check stub ...)
So ... yes, as mentioned above by several posters, I have to use a credit card in certain cases, but otherwise, when I have a choice, it will be my Debit Card !
Your checking account being held ransom while being investigated is a much bigger deal than a credit line. Plus credit cards have much, much better consumer protections granted by law which debit cards do not.
Don't ever use a debit card at a restaurant where you hand it to your server and let them take it to the register. I did that a few years ago while I was on a trip to Texas, and I assume when they got my card they took a pic of the front and back, and then went online and ordered about $2k in merchandise. It took months for me to get that money back, but if it had been a credit card I could have disputed the charges and had them removed immediately.
I seldom never use my debit card anymore after that incident. Besides, with my Citi card I get two points per dollar spent at restaurants, which adds up fairly quickly... then I use those points to get gifts cards to places a frequently shop.
Not true - its happened to me on a debit card and was removed immediately when I spoke with the bank. And have you had a fake CC charge? Sometimes they are enormous (they don't have a daily limit - its just the credit limit) and it still takes a while to fix - and during that period can affect your credit score whereas the debit card will not.
The hyped protections of credit cards vs debit cards are much talked about but in everyday use the actuality is for the average consumer it doesn't really amount to a pile of beans.
And of course CC offer cashback - because they make so much money charging you interest, forget about "late fees" - many of them even charge an annual fee. Despite the 1 out of 10000 people on here claiming they pay it off in full every month (using it like a charge card). CCs make way more money for corporations than debit cards do - and that money comes from the people who use them.
I recently got gas at a 7/11 and they put a $100 hold on my debit card. When it still hadn't been removed a few hours later I called them and they told me the reason they do that is to make sure there is enough $$ in your account to pay for the gas since they don't know if I'm putting in $20 or $75. Their delay almost caused me to overdrawn from that account. These days I use my credit card for gas or I go inside because of the people in my area using skimmers on the credit card machines at gas stations.
It can be done with a driver's license actually. All that is really needed is address and name. Something that skeevy dealers can do if you just hand over a license for a test drive.
So how would this work if two people with the same name live in the same house (father/son)?
You cannot run a credit check without a SS number......
I recently got gas at a 7/11 and they put a $100 hold on my debit card. When it still hadn't been removed a few hours later I called them and they told me the reason they do that is to make sure there is enough $$ in your account to pay for the gas since they don't know if I'm putting in $20 or $75. Their delay almost caused me to overdrawn from that account. These days I use my credit card for gas or I go inside because of the people in my area using skimmers on the credit card machines at gas stations.
Go in and prepay for a set amount of gas.....problem solved. Buy $30 worth of gas, they hit your debit card for $30 and problem solved.
HINT: Skimmers steal any card info whether debit or credit.
So how would this work if two people with the same name live in the same house (father/son)?
You cannot run a credit check without a SS number......
https://www.corelogic.com/downloadab...ithout-ssn.pdf
"Misconception #1: You need a driver license and
SSN to run a credit report.
It seems to make sense that: a driver license and SSN should
be used to run a credit report since this documentation
provides the necessary address and identity information to
do so. But while it is easiest to run a report with them, and
they do increase the accuracy of results, the truth is, there are
other ways to run the report. Credit reports can be matched on
name and address, so it is possible in some cases to get credit
information by providing the correct spelling of the applicant’s
first and last name along with address history. "
OP, I worked in car rentals and here's what it looks like from the other side........with a CC, we knew somebody trusted you enough before us to extend you a line of credit. A straight up debit card caused a red flag. Actually , telling us you had a TON of money on it made us more suspicious like you were dealing in illegal means. The thought was ingrained in our heads (why won't someone give this person a line of credit?) Car rental business is about risk. Typically, the rental branch's worst experiences were with cash/ debit card holders. They were the ones who ended up destroying cars, or ended up needed repo's ect.
I recently got gas at a 7/11 and they put a $100 hold on my debit card. When it still hadn't been removed a few hours later I called them and they told me the reason they do that is to make sure there is enough $$ in your account to pay for the gas since they don't know if I'm putting in $20 or $75. Their delay almost caused me to overdrawn from that account. These days I use my credit card for gas or I go inside because of the people in my area using skimmers on the credit card machines at gas stations.
yes - lots of skimmers even in my small town. I stopped using my debit card because of that. I couldn't believe that people kept using them even after being taken several times. They also don't like to carry cash. They pay for everything and anything with debit. I even stopped carrying them unless I was getting money from the ATM.
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