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CC.............Safer than using an ATM or debit card.
If some scams my ATM or debit card..............that money is coming out of MY account. Keep your fingers crossed that YOU report the scammery within the required time.......and HOPE that your bank does not blame YOU for the loss or fraud, HOPE that the bank reimburses you!!!!!!!!
If someone scams my CC.......that money is credit extended from the bank, in my name, to the scamster. Guess what, I am going to call the bank and inform them that someone has taken THEIR money and THEY should correct the problem, and I am not paying a fracking dime of the fraudulent charges, sue me!!!!!!!!!!!!!!!!!!
Emergencies. At the hospitals here, if our insurance has a co-pay for ER visits then you have to pay it. Mine's $100. My chances of having that much cash at hand is possible, but if I don't then that's where the card comes in.
It's also hard to travel without one.
I use mine only for travel, urgent situations, and the occasional Amazon purchase. That's it.
And that is why so many have a debit card, just blow someone else money.
I do not carry a credit card, drive a semitruck, sleep in hotels, go on vacations, all that without a credit card. Yes, you can rent a car with a debit card.
So you're irresponsible and have no self-control. That's really a mental issue that needs attention. A debit card is just a bandaid for your very real problem.
Or maybe a person has enough liquid assets that they don't need to use credit ! I do spend a lot on my hobby, but I do it with cash or my debit card. I have no bills hanging over my head, and if the bottom drops out of my world I won't owe anyone anything.
I was a Credit Manager for most of my business life (both personal and industrial) and I saw so many people who had that noose around their neck every month. Not me, I wake up every morning debt free and go to bed the same way. It is a very liberating feeling and something most people will never be able to enjoy.
Just because you feel the need to have them, don't think everyone else has to.
Don
I don't see your connection with liquid assets and credit cards.
Perhaps, you don't know how credit cards work.
1) You make a purchase by swiping the card.
2) At the end of the month, you get an itemized electronic bill that syncs with your portfolio
3) You pay the bill off.
There is nothing hanging over anyone's head unless you are irresponsible with no self control.
Do you pay for your electricity up front? Your water up front? At the restaurant up front? A credit card is no different. You pay it when the bill comes. It's no less liberating than paying cash. In fact, it's more liberating because of all the benefits associated with credit cards.
I'm ultra responsible with my credit card and I must have gotten almost $3000 in cash back over the years using my Costco AMEX. It's awesome - I get paid to use my card.
I realize that the reason AMEX can even pay out the money though is because they charge retailers twice as much per swipe and from people who carry balances for whatever reason. I can sympathize that I'm taking slight advantage of the system but I'm not doing anything wrong (other than slightly morally wrong by perpetuating the system).
But life is short... I'm not going to question my ethics for every little thing I do.
Your making claims that visa says are not true, and are trying to debate with me abut it.
I'm telling you to quite arguing with me, but go talk to visa, because they say you are wrong.
They also say you are wrong. Earlier I brought up how some cab drivers were caught using a machine that would steal your card and PIN info and you tried to say "call VISA", however even VISA says only certain transactions are covered. Some people tried to say that paying a bill every month is too difficult, but major credit card companies offer auto pay, so that is no excuse. The only legitimate excuse I know of is people that can't handle their spending responsibly, but that is a personal flaw unrelated to CC's.
Show me a debit card that gives me 1-5% back, protects me in all circumstances, provides me with additional vendor discounts, provides travel and car insurance when I use my card, gives me special and early access to tickets, and builds my credit and I will switch today, but until then there is just no comparison.
Quote:
* Covers U.S.-issued cards only. Does not apply to ATM transactions, certain commercial card transactions, PIN or other transactions not processed by Visa. You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer.
What bothers me about debit cards anymore is the fact that you don't NEED a PIN to use them. Most of them you can hit the "change payment" button, hit "credit" and it goes through without even a signature required if it's under $50. And often when it's more too. Using it that way doesn't allow any cash back though so maybe that's a blessing. But a person could still do some serious damage.
I'm confused about the "change payment" button. So you press credit, then change payment to debit, then back to credit? Aaargh! Or is it press debit, then press change payment, then credit?
THe reason I have one is for unforeseen expenses that I cant cover with cash in my wallet or with my debit card (like towing expesnses or such).
The credit card also acts like a short term loan. For example, I had some car repairs that cost around $300- $400. I put that on the credit card and am paying off the repairs by making payments on the card. Should have it paid off by March.
You can reserve it with the card and then pay with cash to avoid this.
I've never found it to be a problem though.
When a charge is reversed it may take several days for the credit to appear.
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I do spend a lot on my hobby, but I do it with cash or my debit card. I have no bills hanging over my head, and if the bottom drops out of my world I won't owe anyone anything.
