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I see a lot of people pay with check cards and I can't figure out why'd you want to do it unless you just weren't able to get a credit card.
Balance your checkbook with a bunch of little charges is a pain, the liability protection isn't nearly as good as a credit card and you can get rewards with the credit card.
Do people still balance their checkbooks?
I don't balance anything because I can log into my online banking and see what has been deducted or not. Futhermore, check cards do have rewards. I get points, cash back etc on my debit cards purchases. And I have had my card stolen twice. Both times my bank refunded me the money right of way.
I just think using credit is more trouble than it's worth. I have plenty of money to handle anything that comes my way, no debt, and prefer simplicity in all things.
How is swiping a credit card at the point of sale more trouble than swiping a debit card? Seems pretty simple to me.
Like you, I too have plenty of money to handle anything that comes my way. However, even though I keep a significant amount of money in my checking account at all times, I still pay for almost everything with a credit card, and then have the charges deducted from my checking account once a month.
By swiping the credit card instead of a debit card, the credit card issuer pays me roughly $1,000/year, usually in increments of $50 - $100 per month.
I don't understand why anyone would want to forego receiving monthly payments for using a credit card in lieu of a debit card that doesn't provide a comparable benefit.
Frankly, it's because I see the credit industry as generally unethical; therefore, I have chosen to opt out as much as possible, which means using cash for most purchases.
I see a lot of people pay with check cards and I can't figure out why'd you want to do it unless you just weren't able to get a credit card.
Balance your checkbook with a bunch of little charges is a pain, the liability protection isn't nearly as good as a credit card and you can get rewards with the credit card.
Do people still balance their checkbooks?
I don't use a checkbook. I tear off a couple checks and put them in my wallet.
I use one Debit card and have others which represent accounts I don't use.
The one, I check it's transaction online weekly.
Got no use or desire for a credit card, we've been OVER AND OVER how plastic tends to cause people to spent more. This far out weighs the small 'points'.
Additionally, I know from personal experience (Having my info stolen and used) that Debit cards cover just as much as credit cards.
THEY alerted me, had all my money back in LESS than 24 hours (Remember the other back up bank accounts)
and it didn't cost me a dime.
Credit cards are entirely unnecessary, I REALLY don't understand why people have them.
I see a lot of people pay with check cards and I can't figure out why'd you want to do it unless you just weren't able to get a credit card.
Balance your checkbook with a bunch of little charges is a pain, the liability protection isn't nearly as good as a credit card and you can get rewards with the credit card.
Do people still balance their checkbooks?
i use credit, but sometimes i use my debit card (as credit).
i haven't balanced a checkbook since the internet was invented though. some debit cards offer rewards as well. some banks offer higher interest rates if you have at least 10 debit transactions per month.
various reasons to use various forms of payment.
bigger question is...why does anyone still use checks?!
Got no use or desire for a credit card, we've been OVER AND OVER how plastic tends to cause people to spent more. This far out weighs the small 'points'.
Some people who are financially constrained may spend more using a credit card versus other payment methods for the simple fact that they have more available credit than they do cash, but there isn't any reason to believe that everyone will spend more with a credit card.
In terms of spending levels it makes no difference to me, how would swiping one card versus another cause me to spend more? Even switching to cash, why would it cause me to spend more?
Uh, 1 to 5% cash back is not a big deal? I buy everything I can with a particular credit card and I just cashed in 800 bucks towards my balance. Is that chump change for some people?
Yeah, we pay it off every month...it's the same as a check card; our philosophy is don't spend money you don't have.
A 30 day free loan. Why would you spend cash that could be earning interest if someone is giving you a free loan?
AND...I just ran into a problem that would have been a nightmare if I had paid cash or used a debit card: We bought furniture (and paid for it) from a major store. They went bankrupt and never delivered the furniture. MY CREDIT CARD gave me back the money (several thousand dollars). I would have been totally SOL if I had paid cash...one in a long list of creditors to this bankrupt company. God knows if I would have ever gotten my money back.
i got $1,000 back last year! i love it.
and same thing. i've had businesses not fulfill their promises, submitted a claim with american express, and have the money credited back.
also, amex offers 90 day purchase protection on virtually everything. so when i bought a hedge trimmer and extension cord, fired up the hedge trimmer, and then heard a loud pop and the trimmer stopped working...got my $40 back for my sliced extension cord!
not to mention the extra 1 year warranty on any product that has a warranty.
no annual fee, pay off every month. why would i ever NOT use my american express?
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