Can you answer this debit/credit card question? (funds, pay, deposit)
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If I use my debit/credit card as "credit," will it take longer to post than debit, posting after I get paid in 15.5 hours, or will the card be declined due to current insufficient funds? I've rarely used it as "credit," and have never been sure what that means. Does it mean it's like a real credit card, can buy things without money?
Alternately I could write a check, but who does that anymore?
Paying... Depending on your credit card, you normally Get 20 or so days from the end of the billing cycle to pay the bill before you incur late fees, (If you have no credit card balance, Interest charges).
Btw: Most (Paper) Checks are converted to EFT, and clear just like a debit card transaction now.
It depends on how your bank handles it. If you don't currently have a negative balance, the transaction may go through as "pending", and would post tomorrow. Of course, your direct deposit would be made tomorrow but might only show as pending until the next day.
Most banks I've dealt with show two balances: available balance and ledger balance. The available balance is what the bank says you have to work with, while the ledger balance is your "official" balance and is the one that is not allowed to go below zero.
As far as debit vs. credit, it depends on the type of transaction, too. Using it as a debit (with PIN) will cause a pending charge for the full amount. Using it as a credit, the pending charge may be as little as $1.00 (I often see this when I buy gas).
If I use my debit/credit card as "credit," will it take longer to post than debit, posting after I get paid in 15.5 hours, or will the card be declined due to current insufficient funds? I've rarely used it as "credit," and have never been sure what that means. Does it mean it's like a real credit card, can buy things without money?
Alternately I could write a check, but who does that anymore?
Don't go shopping until after your bank closes for the day. Or just write a check
I have always used my debit card as credit,now for over 10 years.When I use it my checking account is debited as fast as I walk out the door.Use it as credit so I do not have to use pin.I live in FL,credit union in CO.
Only one time was the card hit with fraud on purchase when I did not use a secure site,my money was immediately returned to account,card canceled and credit union went after offender.
If I use my debit/credit card as "credit," will it take longer to post than debit, posting after I get paid in 15.5 hours, or will the card be declined due to current insufficient funds? I've rarely used it as "credit," and have never been sure what that means. Does it mean it's like a real credit card, can buy things without money?
Alternately I could write a check, but who does that anymore?
If you have a Debit Card it's a Debit Card, not a Credit Card, that means that the amount available on the Debit Card is based on the amount in your bank account AT THE TIME OF THE TRANSACTION minus any Pending Transactions.
If you don't have enough funds in the Bank Account at the time of the purchase minus any pending transactions, then you will need to wait until you have enough funds to cover the purchase.
Furthermore, when you have the option to use your "Debit Card as a Credit Card" what that means is that you are using Off-Line Debit which is to use the Debit Card without entering your Pin number. Usually they will require a signature when you use the Debit Card in this fashion. So overall, your Debit Card can't be used as a Credit Card because it's NOT a Credit Card, you can either use the Debit Card with your Pin Number or without your Pin Number at locations that accept V/MC.
If I use my debit/credit card as "credit," will it take longer to post than debit, posting after I get paid in 15.5 hours, or will the card be declined due to current insufficient funds? I've rarely used it as "credit," and have never been sure what that means. Does it mean it's like a real credit card, can buy things without money?
Alternately I could write a check, but who does that anymore?
Alternately, you could stop spending money you don't have.
If I use my debit/credit card as "credit," will it take longer to post than debit, posting after I get paid in 15.5 hours, or will the card be declined due to current insufficient funds? I've rarely used it as "credit," and have never been sure what that means. Does it mean it's like a real credit card, can buy things without money?
Alternately I could write a check, but who does that anymore?
Debit cards branded as credit cards are still debit cards. If you don't have the money when you swipe the card, the transaction will be denied. So it doesn't work like a credit card.
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