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Why don't you have credit cards? What I'm I missing?
I don't want any debt. I ran my credit cards up three times during my lifetime. When I retired I cut all the cards and we never used any kind of credit again. It was just too easy to over spend money we didn't have with credit cards.
I found TD Bank was very proactive against fraud with my debit card. A couple of times I saw fraud charges pending online on the TD Bank website and called them up (they are there 24x7). They immediately cancelled the number. The next day I visited the bank (they are open 7 days a week) and they just cut me a new card with a new number in about 10 minutes. When I asked them if it was common, they said it happens all the time. I never lost a penny on fraudulent debit card transactions in over 13 years of using them.
As far as guarantees on products purchased, I use Paypal whenever I can. They stand 100% behind the buyer and anything not as advertised gets a full refund including postage both ways. Much easier to deal with than Amazon, which I also no longer use.
In your case, I agree with you. CC are not for everyone.
Quote:
Originally Posted by bobspez
I don't want any debt. I ran my credit cards up three times during my lifetime. When I retired I cut all the cards and we never used any kind of credit again. It was just too easy to over spend money we didn't have with credit cards.
Was wondering when you go out shopping, are you using
your credit or debit card or both?
With all these CC having rewards and whatnot, it makes sense
to use your CC to rack up the points and rewards.
I was reading this article and it got me thinking, should I just not be using my debit card anymore?
In what situation would you use your debit and not credit card?
If you go to the grocery store, is it credit or debit?
What about gas station?
A quick run to a store for a $30 purchase?
Drive thru for a coffee or lunch?
Are you using your credit or debit card?
I use my Discover card, but I pretend it's a debit, and I deduct the amount of the charge from my checkbook as if I used my debit and pay it in full each month. Last month I had $70 cash back. I started doing this after I used my debit card at a gas station that had a skimmer on the pump (apparently) and someone bought 2 one-way tickets to Santiago, Chili costing $2600.00 on my checking account. I found out when I got overdraft notices. The bank (Commerce at the time) was great and reimbursed me the next day, but it made me concerned about using my debit card as a credit card.
Was wondering when you go out shopping, are you using
your credit or debit card or both?
With all these CC having rewards and whatnot, it makes sense
to use your CC to rack up the points and rewards.
I was reading this article and it got me thinking, should I just not be using my debit card anymore?
In what situation would you use your debit and not credit card?
If you go to the grocery store, is it credit or debit?
What about gas station?
A quick run to a store for a $30 purchase?
Drive thru for a coffee or lunch?
Are you using your credit or debit card?
I almost never use the debit card. I keep it in my wallet at this point only because it functions as an ATM card. Aldi was the last place that required it and they started allowing credit cards a little while ago.
In what situation would you use your debit and not credit card?
If you go to the grocery store, is it credit or debit?
What about gas station?
A quick run to a store for a $30 purchase?
Drive thru for a coffee or lunch?
Are you using your credit or debit card?
Gas station is always cash. Where I live you pay a penalty for using credit (unless it's the brand's CC but I never buy branded gas).
Mom & Pop store I try to use cash so they don't get hit with the processing fee.
Most everyday purchases are debit card (groceries, etc). Large purchases go on a credit card.
I can only tell you how I do things. First of all I typically carry about $150 in cash so I usually pay cash for any purchase under $25.00. I have two banks accounts. One has a debit card attached to it. The other does not. When my debit card account gets high in money, I transfer money out of it and into the other account. Sometimes I transfer money the other way. Simple online transaction to transfer. It happens amost instantaneous. Could someone rip my debit card off? Yes. Will it be a pain getting the money back? Yes. Can I afford the time? Yes.
For online purchases (via PayPal) and most major purchases, I use AMEX charge card for the protection it offers me.
I have a CITI charge card I rarely use. I will make a purchase or two a month on it to keep it active.
The only time I use my debit card to purchase anything is if I remember I need cash for some reason but there's no ATM nearby. Swing by Rite Aid, get a pack of gum and cashback. The only other use case for me is if I return something to Costco since they don't really care what card you use for the chargeback. Doesn't make sense to earn negative points on a transaction. All other times - use credit, pay off in full each month, take advantage of various post-purchase benefits (return protection on Amex is a particular favorite of mine if a retailer gets difficult or I miss the 30-day window, purchase protection is also nice in case an item is lost/broken/stolen) if needed and bank the points.
We get 5% on groceries from the citi cash card .in january we will change to the deal on the chase unlimited which for us is about 7% back
Amex Platinum has up to 10x, as well, depending on the conditions of your sign-up offer (I believe the 10x offer might have been for certain members within the first six months of the account's opening). I personally use my Verizon Visa for groceries and gas - an easy 4% that adds up to a pretty decent amount each month and doesn't depend on revolving bonus categories (I used to have the CF card, but got rid of it because I couldn't be arsed to keep track).
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