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Old 01-07-2009, 09:04 AM
 
Location: Some place very cold
5,500 posts, read 20,511,944 times
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Quote:
Originally Posted by IonRedline08 View Post
It is not the banks fault.

Almost every gas station will "pre-authorize" a certain amount before you pump gas. If you use a debit card as a debit, they will almost always do this, usually for an amount of like 75. It should fall off in a couple days, but, in actuality, they are not charging your account that much.

It is to protect the gas station from people just swiping the card and pumping gas that they don't have money for.
Yes, this is true. And the individual gas stations may set the amount, so one might be $75 while another might be $50 and again, that can change with gas prices.

Amen.
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Old 01-07-2009, 10:07 AM
 
Location: Kansas
3,855 posts, read 11,994,992 times
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I was just filling up at a station the other day in MO and noticed a little sticker on the gas pump that says regardless of what the purchase is an amount of $50 will automatically show up as pending on your account until it processes. So if it's illegal somebody needs to call them about it.

BUT

I'm amazed at the number of people dogging debit cards. I and my wife have both been using them for the last 15 years probably. I just hate to even pull a credit card out of my wallet for any reason.
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Old 01-07-2009, 10:10 AM
 
Location: Some place very cold
5,500 posts, read 20,511,944 times
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Quote:
Originally Posted by drjones96 View Post
I'm amazed at the number of people dogging debit cards. I and my wife have both been using them for the last 15 years probably. I just hate to even pull a credit card out of my wallet for any reason.
We're not digging them. We're telling you that credit cards and cash are a safer bet. It's pretty well documented and several links to articles have been posted. If you don't want to believe it, that's up to you! I give up!
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Old 01-07-2009, 10:17 AM
 
13,093 posts, read 19,266,128 times
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Quote:
Originally Posted by drjones96 View Post
BUT

I'm amazed at the number of people dogging debit cards. I and my wife have both been using them for the last 15 years probably. I just hate to even pull a credit card out of my wallet for any reason.

Come on guys - face it, you use debit cards because you either have bad credit or lack the dicipline to use credit cards. I can find absolutely no benefit otherwise.

The best thing about credit cards is consumer protection. You pay for something with a credit card, don't get the service that you payed for (doesn't work, part missing, etc), and you can easily dispute the charge with the vendor when the charge comes in. I can and have done this with my amex card and a simple 5 minute call, and the burden then is with the vendor.

Debit card on the other hand, well you already paid, the funds are out of your bank, you have no consumer protection and are at the mercy of the vendor. Credit cards put the power in your hand.

and yes Woof x3 - there is not a financial advisor alive that will recommend a debit card over a credit card for the above reasons and other reasons listed in this post (unless for the aforementioned user problems with credit and discipline).
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Old 01-07-2009, 10:58 AM
 
Location: Kansas
3,855 posts, read 11,994,992 times
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Quote:
Originally Posted by Dd714 View Post
Come on guys - face it, you use debit cards because you either have bad credit or lack the dicipline to use credit cards. I can find absolutely no benefit otherwise.
1. I have an excellent credit rating from all three agencies (never missed a payment on anything...ever)
2. I am extremely disciplined with how I spend money. (you'd be a believer if you saw my spreadsheet)

I see credit card companies at large as a major problem for several reasons. But primarily they are vampires who prey on the weak willed consumers.
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Old 01-07-2009, 11:20 AM
 
Location: somewhere near Pittsburgh, PA
1,444 posts, read 3,337,043 times
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Quote:
Originally Posted by redwine View Post
This got to be your banks problem. I bank with USAA and everytime I pump gas there is only $1 pending until the day the funds are withdrawn and the correct amount comes out. This is if I run it as credit. If I use debit the correct anount comes out right away and my bank never charges any fees for this? I am curious what kind of banks charge you for using debit? That sound really wrong to me. Change bank!
I agree with this, I've never run into the problems most of these other posters talked about. I prefer to use my debit card as debit, not credit, because the EXACT amount I purchased shows up IMMEDIATELY. There are no "holds" when using it like this, and there are no additional fees. And the times I've used it as credit, the hold has only been $1. I bank with PNC by the way, but had Bank of America previously and both banks worked the same way in regards to debit cards. I've used debit cards for as long as I can remember and never had a problem.
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Old 01-07-2009, 12:10 PM
 
Location: In My Own Little World. . .
3,238 posts, read 8,090,824 times
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Quote:
Originally Posted by Dd714 View Post
Come on guys - face it, you use debit cards because you either have bad credit or lack the dicipline to use credit cards. I can find absolutely no benefit otherwise.

The best thing about credit cards is consumer protection. You pay for something with a credit card, don't get the service that you payed for (doesn't work, part missing, etc), and you can easily dispute the charge with the vendor when the charge comes in. I can and have done this with my amex card and a simple 5 minute call, and the burden then is with the vendor.

Debit card on the other hand, well you already paid, the funds are out of your bank, you have no consumer protection and are at the mercy of the vendor. Credit cards put the power in your hand.

and yes Woof x3 - there is not a financial advisor alive that will recommend a debit card over a credit card for the above reasons and other reasons listed in this post (unless for the aforementioned user problems with credit and discipline).
Sorry, Dave Ramsey does.
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Old 01-07-2009, 02:06 PM
 
13,093 posts, read 19,266,128 times
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Quote:
Originally Posted by colleeng47 View Post
Sorry, Dave Ramsey does.
I suspect that goes back to one of the 2 reasons you need to - because of lack of discipline or irresponsible use of credit cards to incur debt . If you have that personal financial problem - use a debit card. If your Ramsey source says anything different, then post the source and we can take a look at and comment. I suspect it doesn't.

A financial advisor will not recommend carrying a high interest revolving credit balance, period. That's obvious. But that is an issue that goes beyond responsible credit card vs debit card usage.
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Old 01-07-2009, 05:40 PM
 
8,778 posts, read 17,214,983 times
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Quote:
Originally Posted by Dd714 View Post
Come on guys - face it, you use debit cards because you either have bad credit or lack the dicipline to use credit cards. I can find absolutely no benefit otherwise.

Benefit: No billing statement. It's paid right then and there. The transaction is done, and you can forget about it after you check online that your checking acct. was debited. I'll use credit cards for things that i want extra protection/recourse, but for simple everday things like gasoline, it's always debit for me. It's akin to paying cash, without the hassle of standing in a line to pay, or carrying lots of $$$$$$. If i do it as a credit transaction, it's just more paperwork to keep organized until the billing cycle ends.
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Old 01-07-2009, 07:58 PM
 
Location: Fort Myers Fl
2,305 posts, read 2,752,196 times
Reputation: 917
Always use my American Express Delta Sky Miles card. Just love those free plane tickets. And they have the most friendly customer service people. And I use it for all off my buisness expenses and pay off at end of month.
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