Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I typically carry about $250 cash and pay cash for minor purchase of say less than $25.
I have two bank accounts, one of which is a checking account with a debit card which is where my direct deposits are made. I keep about $2,500 in this checking/debit card account and I use my debit card all the time. When my checking account get high, I move money to the other account which has neither checking nor a debit card for safekeeping.
I have Citi Mastercard which I rarely use. I use it every month or so just to keep it active.
I do my online purchases via PayPal which is tied to my AMEX Gold Card or direct via AMEX. I also make all major purchases via my AMEX card. I pay AMEX off each month. AMEX stands behind their card holder. If you question a charge, they cancel it immediately and investigate it. For the few that do not take AMEX, I will use the Citi Mastercard.
So most local purchases via cash or debit card. Online and major purchases via AMEX. Citi Mastercard collects dust. As there is only me, tracking things is very easy.
You mention this OP like it’s some crazy, weird shocking revelation. I’ve never heard of anyone I know using debit cards. Everyone puts everything on credit cards and pays them off each month, what else would you?! Debit cards are stupid and pointless. No cash back, no fraud protection, no benefits.
I’ve redeemed thousands of dollars in cash back this year alone. It’s free money!
I have a DC but only use it for cash withdrawals from an ATM when I travel. The rest all goes on a CC which is on auto-pay to pay the full amount every month. I keep an eye on charges so that my bank account always has enough to pay off the CC bill.
I was listening to Frank Abagnale talk about his life. He has spent the past 40 years working for the FBI. He is an interesting person to listen to. Some years back a movie about him was made based on his book, Catch Me If You Can
In a question and answer segment he was asked about debit cards. He commented that he never uses them. That a debit card does nothing for you and can open you up to fraud. He says he uses credit cards for everything. When the bill comes he pays off the bill.
Frank mentions that with a credit card, if you suspect fraud, you call your credit card company and they will suspend the payments to the fraud. They will cancel your card and send you a new one right away.
With a debit card you might lose your money, wont have use of it until an investigation takes place. It might take weeks to get your money back.
While a credit card used wisely builds your credit, a debit card does nothing for you.
With a credit card you are using someone else's money during the month for free, as long as you pay off the balance when the statement comes. Your money stays in your bank and only comes out when you make that payment.
The idea sounds intriguing. Anyone else using a credit card to pay the bills and then paying it off each month and not using a debit card?
I have been told the same about a debit card from restaurant workers. Always use a credit card.
Like others, I put everything on my credit card, including a $2 purchase because I get $25-50 cashback every month... it's deposited directly into my account. Even rent/utilities are paid online via CC, unless there's a charge for it... one apt I rented charged $50 to use a CC to pay rent, but e-check was free.
My bank makes me use my debit for ID purposes, otherwise i never use it & wish I could get away with not having one. I never use an ATM, so I have no need for a debit... it's just a backup card when I accidentally leave my CC in the car, which happens about twice/yr. I can survive without it.
In addition to not worrying about losing cash, not carrying much of it means very few trips to the bank since I only need to go when I need quarters or a bit of cash on hand... that's about every 3-mos.
I have Citi Mastercard which I rarely use. I use it every month or so just to keep it active.
What is a good interval to use a card to keep it "active"?
I have several cards that I use once per year to keep them active. I wonder if that's the right interval.
Is there a certain frequency or % of credit limit they look for a customer to spend within a specific timeframe???
Just curious how that works.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Not a new idea but he is correct
