Can using credit cards to buy things and choose "debit" at checkout? (pay, rate)
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No, you can't make a credit card a debit card, but every debit card can be used as a credit card - of course, you can spend only so much you have in your account ( so, practically a debit card is not a credit card )
Your check/debit card must have a Visa, Mastercard or a Discover symbol to work as a Credit purchase but still comes out of your checking account. http://learn.bankofamerica.com/artic...dit-cards.html
You can't use your credit card as your debit card because there is no money you own (belong to you). Credit card is to BORROW money.
Is it possible to get extra cash when using credit cards to purchase something in a store? Just like cashback on purchase by a debit card?
Quote:
Originally Posted by elnina
No, you can't make a credit card a debit card, but every debit card can be used as a credit card - of course, you can spend only so much you have on your account ( so, practically a debit card is not a credit card )
Your check/debit card must have a Visa, Mastercard or a Discover symbol to work as a Credit purchase but still comes out of your checking account. Debit Cards vs. Credit Cards: How Debit and Credit Cards Work | Bank of America
Yes, you can get a cash advance ( usually much higher interest rate ), but not in a store. To get a cash advance you need to use ATM machine or go to the bank.
You need to look at your credit card monthly statement. There is written down how much you are allowed to take as a cash advance ( and the interest rate is listed there too )
You will pay it back like you have to pay back when you make a purchase.
Is it possible to get extra cash when using credit cards to purchase something in a store? Just like cashback on purchase by a debit card?
No. And you wouldn't want to. You have to go to a bank for a cash advance. The interest rates are very high and there is no grace period. Most of my cards have a 5.9 interest rate but cash advances are 24.99%.
Yes, you can get a cash advance ( usually much higher interest rate ), but not in a store. To get a cash advance you need to use ATM machine or go to the bank.
You need to look at your credit card monthly statement. There is written down how much you are allowed to take as a cash advance ( and the interest rate is listed there too )
You will pay it back like you have to pay back when you make a purchase.
I read timlee's question this way:
"Can I use my credit card as a debit card in order to get cash back at the store the same way people use debit cards, to get small amounts of cash while shopping, in order to avoid cash advance and ATM charges?"
"Can I use my credit card as a debit card in order to get cash back at the store the same way people use debit cards, to get small amounts of cash while shopping, in order to avoid cash advance and ATM charges?"
Apparently, your answer is "No, you cannot."
I
Yes you can use some credit cards and request $20, $40 or $80 back from Walmarts. I do all the time. This is a particular card but I have noticed many of the other credit card companies see that they are loosing out and offering cash back. My Cash back is limited to $200 per month and since I pay off the amount totally each month, I can get up to $200 the next month. I don't pay interest on any of my cards and I won't pay an annual fee for a credit card. One of the benefits of keeping good credit.
Thanks! For those who said their credit card can give them some cash back on purchase, do you choose "credit" or "debit" mode?
You do NOT have the option to choose debit for credit cards. A credit card is NOT a debit card.
elnina says that twice in the second post!
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