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'm still a bit unclear on my credit union's policy regarding what happens if someone makes fraudulent charges using my debit card number, so I always use either cash or a credit card because I feel safer that way. I basically use my debit card as an ATM card.
I don't leave balances on my credit cards, though, and some of them offer decent cashback and rewards when used for gas and groceries.
I'm curious how most of you pay off the credit card every month. Do you write a check? Does your credit card company have an automatic bill pay option? Do you use a debit card?
For me that is the main reason I don't use my credit card. It is one more extra step to pay it, and one more thing to remember to do. If you miss the due date, you get hit with interest. So personally, if I use the credit card, I go home and pay it off right then (online transfer of funds from my checking account). If I were using it all the time, this would get tedious. Using my debit card takes it straight out of my account without this hassle.
I am all about convenience, and the debit card is the most convenient way to pay my day to day bills.
Oh, and I will say that people have gotten very very bad at balancing their checkbook. I see rent checks bounce often because "my account online said I had enough to cover it", but they didn't think about what expenses hadn't shown up yet. Or they "forgot" they wrote the check and went out and spent the money between the time they mailed the check and when we deposited it. Balancing the checkbook is a lost art that people need to rediscover, at least if they are that close to the edge.
Bear in mind also that people using credit cards drive up the prices for everyone else. The store pays an extra 2% - 4% for the credit card charge, and they don't just smile and swallow it--it gets passed to all of us in their prices.
It's more trouble than it's worth because I already have a card that allows me to swipe and go. It's called my debit card. A credit card would be redundant.
I'm not sure why you appear to think a debit card is so much trouble. Seems pretty simple to me.
It's more trouble than it's worth because I already have a card that allows me to swipe and go. It's called my debit card. A credit card would be redundant.
Its more trouble than its worth because you are instead using a comparable product? Why would it be trouble to switch? Why forgo the rewards?
I'm curious how most of you pay off the credit card every month. Do you write a check? Does your credit card company have an automatic bill pay option? Do you use a debit card?
I use my online bill pay. I use Quicken to keep organized, so missing a due date never occurs.
I don't see a big deal one way or the other. As others have pointed out, it's personal preference. We use a credit card that puts at least 1% of all charges into our sons 529. It's added up nicely over the years. We never carry a balance.
Bear in mind also that people using credit cards drive up the prices for everyone else. The store pays an extra 2% - 4% for the credit card charge, and they don't just smile and swallow it--it gets passed to all of us in their prices.
Firstly, the rates are noticeably lower than 2~4%. A large brick and mortar store will pay 1~1.5%, I'm sure companies like Target, etc are paying less.
In terms of the cost being passed on, not really. Merchants sale more by accepting credit cards, so the fees pay for themselves.
I'm curious how most of you pay off the credit card every month. Do you write a check? Does your credit card company have an automatic bill pay option? Do you use a debit card?
My bank does online bill pay and sends me my credit card bill as an e-bill. I can set it up to pay the full balance every month but I like to review it before I pay.
Quote:
It's more trouble than it's worth because I already have a card that allows me to swipe and go. It's called my debit card. A credit card would be redundant.
I'm not sure why you appear to think a debit card is so much trouble. Seems pretty simple to me.
Leaving the concept of rewards to the side, it is an issue of security. If someone steals your debit card and runs up charges they are stealing from you. You generally have some liability and will have to wait for your financial institution to put the money back in your account. If someone steals your credit card, they are stealing from your credit card issuer. You have no liability and all of the money in your checking account is still there.
Whenever I can spend someone else's money, I do it.
Its more trouble than its worth because you are instead using a comparable product? Why would it be trouble to switch? Why forgo the rewards?
If serves two purposes. To get cash from an ATM and to use as a debit card.
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.
