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Old 07-28-2018, 03:31 PM
 
106,236 posts, read 108,237,907 times
Reputation: 79776

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Quote:
Originally Posted by Lowexpectations View Post
So the question again is why? It really makes no sense. I don’t use my debit card for anything other than atm withdraws so chances of compromise are limited and the situation you had in the op wouldn’t have happened
Same here. Never in my life did I or would I ever use a debit card for anything but an atm
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Old 07-28-2018, 03:42 PM
 
Location: Philadelphia/South Jersey area
3,677 posts, read 2,550,003 times
Reputation: 12467
Quote:
Originally Posted by mathjak107 View Post
Same here. Never in my life did I or would I ever use a debit card for anything but an atm
Ok, I'm scared to tell you what I do. I'm afraid you'll burn me at the stake (or is it steak, lol) as a witch.

sssh, I do not use a credit card for anything.
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Old 07-28-2018, 03:48 PM
 
Location: IL/IN/FL/CA/KY/FL/KY/WA
1,265 posts, read 1,416,998 times
Reputation: 1645
Quote:
Originally Posted by eliza61nyc View Post
No particular reason except a bad experience when younger.

Im almost 60, getting ready to retire, purchased houses, cars etc so don't need a credit history. I do want to purchase a beach house but that's probably the only thing in the future I can see being a concern.
Today it's less about credit history and more about fraud prevention that I would recommend using your debit card as little as possible.

As the C-D resident bank industry veteran (from what I've gathered in this forum), I know that tons of people use their debit card on a daily basis for many reasons - but the primary one is because they don't trust themselves.

That's all well and good, but the risk you take when you pay with your actual money in your checking account (which is what a debit card accesses) is if any of these stores have a data breach and your card number is sold to someone who plans to use it and you don't diligently check your balance all the time - then you could be out a LOT of money for a long period of time.

Fraud on a credit card is as simple as the company sending you a new card and the fraud claim gets reviewed while you go on about your business. The claim comes back as fraud and the bank takes care of it and that's it.

Fraud on a debit card when there's a claim attached can freeze your checking account for WEEKS or longer. So, the money you need to pay bills and your rent/mortgage can be withheld while the claim process is happening.

So, forget the building credit option and get a credit card to keep your actual checking account from being frozen due to something you didn't do.

Of course, all banks have their own policies on debit fraud claims and it's important that you review your bank's policy with a banker at some point, but this is the general consensus.
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Old 07-28-2018, 03:56 PM
 
Location: Central Florida
3,259 posts, read 4,979,287 times
Reputation: 14997
I really don't see why everyone is piling onto the OP. Her original post described how she was as human and vulnerable to error as other posters in this forum have been. OP was ruefully laughing at herself for making the same kinds of mistakes she had previously criticized in others.

I've never overdrawn an account, and I don't use a debit card, but I found OP's post ironic and relatable -- we all make mistakes, don't we? -- and I gave her a rep point for it.
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Old 07-28-2018, 03:58 PM
 
106,236 posts, read 108,237,907 times
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Not to long ago we saw on the news that a couple had to get 7 on their side involved . They had an issue with a debit card being used with an obtained pin . The bank denied their claim saying they failed to protect their pin. Even though they did not give it out.

I was lucky , somehow my debit card pin was obtained and money taken out . The bank saw my card was never used any where but the bank atm inside the bank . They settled in a few days . But it could have ended worse because of the pin
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Old 07-28-2018, 04:10 PM
 
10,600 posts, read 12,059,835 times
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Not that anyone has been trying to convince anyone else, it's all just conversation here (and it's not even what the thread is about)....but....
...the folks who prefer and/or only use debit cards will never be persuaded otherwise. Haven't many of us had conversations like this with others until we're blue in the face?

I agree, that many, if not most debit cards only people started using debit cards only because they were "anti-credit" (some, IMO, to the point of ridiculousness) or had gotten into CC trouble at one point in their lives. Whatever. It's their money.

When it's pointed out that having the debit card account (their actual bank account) compromised and/or their own money taken and not at their disposal for DAYS (possibly a week or more)....they always counter with...."no, banks return the money within 48 hours." I don't believe it's that quick on a debit card, actual account breach. But even so, that's 48 hours longer than I want MY money out of my account so I don't don't have it. But as I said, "whatever." It's their choice.

Similar to Mathjack's case, I also only use the debit card at just a very few ATMS. When my card was compromised (due to a skimmer, I think) -- the debit payment was denied from the start. I went to go used my card at my local ATM and the card had been shut down. I went inside. Asked, "WTH?" They said the debit transaction was denied, no money ever even left my account.
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Old 07-28-2018, 04:18 PM
 
Location: Avignon, France
11,143 posts, read 7,905,273 times
Reputation: 28888
Not keeping track of your balance is a pet peeve of mine. ( math major/ accountant by degree) I had a b/f who never added debits to his Check register or carrried the balance forward. It drove me nuts! Lol I can't tell you how many times I used his bank statements and phone to reconcile his account, just to have him screw it up again the following month.
My checkbook balances to the penny each month and if it doesn't it bothers me until I sit down and figure out why, where did I error? . Purely my own head trip, but I have a need for things to balance out. I am the customer at the super market who fills out the register .... while others are behind me in line.
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Old 07-28-2018, 04:30 PM
 
106,236 posts, read 108,237,907 times
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Balance a check book ? I have not balanced a check book in 20 years . In fact we are down to writing one check a month . Every bill is paid on line and balances are seen instantly and have never been wrong
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Old 07-28-2018, 04:39 PM
 
Location: Avignon, France
11,143 posts, read 7,905,273 times
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Quote:
Originally Posted by mathjak107 View Post
Balance a check book ? I have not balanced a check book in 20 years . In fact we are down to writing one check a month . Every bill is paid on line and balances are seen instantly and have never been wrong
You do it your way and.. I'll do it mine.
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Old 07-28-2018, 04:56 PM
 
5,904 posts, read 4,408,293 times
Reputation: 13437
This is where I’m supposed to come in and play as the cd forums ranger and say “wow, you paid a bank fee? This is why they need to teach finance in high school!!! You set such a bad financial example for your grandkids....smh. Then you helped out your grand kid to buy a purse?!?!? No one ever gave me nothin but the shirt on my back. I never had a need for a fancy purse at that age!!!! Kids these days have no sense of responsibility. I stuck all my money into Apple and Amazon stock in my youth!! Does your grandkid also buy one of them there mythically fancy Starbucks drinks for $15 a pop too?!?! That’s why she’ll always be poor like you!!!”
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