Why Does Anyone Need a Debit Card? - Page 2

[ARCHIVED THREAD] - Why Does Anyone Need a Debit Card? (Page 2 of 3)

Posted: 9/29/2011 2:00:02 PM EDT

[#1]

I don't see the point either. If someone gains access to your debit info, he can wipe out your account. There's a limit on CC loss.

I use cash or CC.

Also, my checking account pays interest (small amt), so why should I want money taken out of there quicker using debit?

Posted: 9/29/2011 2:00:29 PM EDT

[#2]

Quoted:
I've used my debit card all across the world and have never had a problem.

You are a brave man. Something tells me your "all across the world" has been pretty limited, though - since I have had a hard time using even credit cards in many places. At least I wasn't afraid of my checking account being drained if I got hacked, though.

Posted: 9/29/2011 2:01:07 PM EDT

[#3]

Your doing it wrong

I get $200-$250 in cash each and every month deposited into my account for using my debit card.
A cash rebate........

Posted: 9/29/2011 2:02:53 PM EDT

[#4]

Quoted:

Quoted:

Costco only takes debit.

I don't write checks so the bouncing point is moot.

Why mess with paying a CC off when I can directly debit my account?

Costco takes American Express now, but that is a valid reason - and where mine has gotten the most use.

I would also add that some people don't have credit, and that is the only type of card they can get.

You also have the people who have irrational hatred of credit.

We have them pretty much only because they are also our ATM cards. Mine came in handy a few months ago when my credit card got blocked by overzealous security protocols, and I only had the ATM card on me. I have since got a second card (and its an American Express, specifically to avoid using the debit card at Costco!)

EDIT: I hate when I open a tab and it sits for so long before I get to it, that my post looks stupid and overcome by events when I finally get around to it. Joy. But yeah, what they said, up there.

Just for the record, I have excellent credit, and a very good CC from USAA- I don't hate credit at all, and I DO use it for many larger purchases.

I just typically use my debit for shopping (which is about 75% at Costco) and small daily stuff. I might look into the AMEX though and see if there is a good reward system. I could be talked into using that.

Posted: 9/29/2011 2:03:11 PM EDT

[#5]

I mainly use my credit card for fraud protection. if someone jacks my CC number and rings up a bunch of charges, its not my money that is missing, its the banks. If they stole my debit card then its my money that is all gone. whose money is the bank going to work harder to get back, theirs or yours?

not to mention cashback, points, etc for using credit cards.

as long as you can handle paying it off every month and treat your CC as your cash and not some excuse to go into debt and buy stuff you cant afford, its the way to go.

Posted: 9/29/2011 2:03:30 PM EDT

[#6]

Quoted:
Better than cash, most places.

I've never heard of a store that refused to accept cash.

I've seen many that offer cash discounts, tho.

Posted: 9/29/2011 2:03:52 PM EDT

[#7]

Quoted:

Quoted:
Dude.

I get paid direct deposit (don't have a choice, but I prefer it that way anyhow) having a debit card gives me instant access to my money.

And I don't pay interest on fucking tic-tacs.

Fuck checks, I don't have 2 weeks for some douchebag to decide whether or not he's going to cash the goddamn thing.

I'll pay people in cash or debit, I have a CC but it's strictly for emergencies.

Most CC companies have a grace period on purchases that runs the whole first cycle. Ergo, you don't pay interest on anything if you pay everything off regularly.

Why not just use a debit card then?

Posted: 9/29/2011 2:05:59 PM EDT

[#8]

Quoted:
I don't see the point either. If someone gains access to your debit info, he can wipe out your account. There's a limit on CC loss.

I use cash or CC.

Also, my checking account pays interest (small amt), so why should I want money taken out of there quicker using debit?

I've had my USAA debit card stolen and used for $150+ (would have been more but the guy decided to buy a motel room 1 town over from me, and I found his ass) and USAA didn't hassle me the least bit with giving me back every dime.

Maybe ya'll bank with the wrong people.

Posted: 9/29/2011 2:06:33 PM EDT

[#9]

Quoted:

Quoted:

Why does anyone need a debit card? I charge everything on my no annual fee Visa and pay it off at the end of the month. If you put it on your credit card, you get to use the money for free through the billing cycle. I am in my 50's and have never had a debit card in my life. I actually tell the bank to deactivate any debit card features on any of my accounts. Here's why:

If your credit card is used fraudulently, you can only be held legally liable for the first $50. Under the law, your debit card liability could be as much as $500 and your checking account could be fraudulently drained completely. It gets worse because you'll be bouncing checks that you already have written, and paying bounced-check fees on every check that bounces. Also it could take the bank weeks to credit you back the cash.

So why would anyone want a debit card?

After having all my stuff paid off except for my house , my credit score is too low to qualify for a CC.

I went to the bank I do all my banking at , paid off three loans there. Now granted those loans were years ago last one was paid off in 2004 . I ask bank lady, can I have a CC ??

She says lets look at your credit score.

Her

Um sir your credit score is 639 , now I could be off a little maybe it was 625 but some where in the low sixes. Im like woa I dont owe anybody any money paid off three loans at your bank, whats up with that??

She says you need to ahve THREE revolving line of credit at all times or your score will go down over time.

So this was 2 years ago.

FF to now. My credit score is currently 590 . I just checked into buying a car so I could find out my score.

590

I make the median income 40-45k a year. I only owe on my house, I have savings and am doing ok for being a single guy. Kids are taken care of, I got money for ammo and fishing gear.

I have friggin money but a CC?? Fuck no. Im not asshole deep in debt so they think IM A BAD RISK

Hey fucktards, Im a better risk than Johnny fuckstick and his money ho who spend a grand a month on eating out and fucking lattes for the ride to work in their BMW, who have exactly .05cents left after payday and bills are paid.

Fuck banks AND their CCs. I want to buy something?? I save money and pay cash.

I once apon a time worked for a Cred bureau. Lets just say how you think credit scores works is in if fact the complete opposite. in fact baying the full balance on a CC will actually lower your score also. Ive known the system pretty well when i was 19 i had a 795 credit score

Posted: 9/29/2011 2:07:07 PM EDT

[#10]

Oh my ARFCOM, how lo thy have sunk.

To lament the sins of the masses that make use of the unholy debit card.

––-Superior User Of All Financial Instruments.

Posted: 9/29/2011 2:07:24 PM EDT

[#11]

Also, Ive had three fraudulent charges on my debit card and my bank credited my account within 24hrs

Posted: 9/29/2011 2:07:34 PM EDT

[#12]

Quoted:

Quoted:
Costco only takes debit.
I don't write checks so the bouncing point is moot.
Why mess with paying a CC off when I can directly debit my account?

Costco takes American Express now, but that is a valid reason - and where mine has gotten the most use.

I would also add that some people don't have credit, and that is the only type of card they can get.

You also have the people who have irrational hatred of credit.

We have them pretty much only because they are also our ATM cards. Mine came in handy a few months ago when my credit card got blocked by overzealous security protocols, and I only had the ATM card on me. I have since got a second card (and its an American Express, specifically to avoid using the debit card at Costco!)

EDIT: I hate when I open a tab and it sits for so long before I get to it, that my post looks stupid and overcome by events when I finally get around to it. Joy. But yeah, what they said, up there.

Just for the record, I have excellent credit, and a very good CC from USAA- I don't hate credit at all, and I DO use it for many larger purchases.
I just typically use my debit for shopping (which is about 75% at Costco) and small daily stuff. I might look into the AMEX though and see if there is a good reward system. I could be talked into using that.

Just call USAA - they can get you an AMEX.

Posted: 9/29/2011 2:08:11 PM EDT

[#13]

Quoted:

Quoted:
Dude.

I get paid direct deposit (don't have a choice, but I prefer it that way anyhow) having a debit card gives me instant access to my money.

And I don't pay interest on fucking tic-tacs.

Fuck checks, I don't have 2 weeks for some douchebag to decide whether or not he's going to cash the goddamn thing.

I'll pay people in cash or debit, I have a CC but it's strictly for emergencies.

Most CC companies have a grace period on purchases that runs the whole first cycle. Ergo, you don't pay interest on anything if you pay everything off regularly.

Why not just use a debit card then?

http://youtu.be/7hm0aXynhK0

Posted: 9/29/2011 2:08:45 PM EDT

[#14]

I have a small bank. This means ATMs charge me a fee. Instead of paying the fee, I just get cash back from my debit card when I go to the grocery store. Get cash, pay no fees.

Posted: 9/29/2011 2:08:51 PM EDT

[#15]

Quoted:
Why does anyone need a debit card? I charge everything on my no annual fee Visa and pay it off at the end of the month. If you put it on your credit card, you get to use the money for free through the billing cycle. I am in my 50's and have never had a debit card in my life. I actually tell the bank to deactivate any debit card features on any of my accounts. Here's why:

If your credit card is used fraudulently, you can only be held legally liable for the first $50. Under the law, your debit card liability could be as much as $500 and your checking account could be fraudulently drained completely. It gets worse because you'll be bouncing checks that you already have written, and paying bounced-check fees on every check that bounces. Also it could take the bank weeks to credit you back the cash.

So why would anyone want a debit card?

I agree

Posted: 9/29/2011 2:09:16 PM EDT

[#16]

I've had my debit card number stolen before during the entire budsgunshop identity theft thing. My credit union locked down my account as well as refunded me in full when the first charge of $4.16 was attempted through iTunes.

Liable to $500? Hah, I'm not liable for any charges I don't authorize with my credit union.

Posted: 9/29/2011 2:10:07 PM EDT

[#17]

Checks. Lol.

Posted: 9/29/2011 2:11:23 PM EDT

[#18]

Quoted:

Quoted:
I don't see the point either. If someone gains access to your debit info, he can wipe out your account. There's a limit on CC loss.

I use cash or CC.

Also, my checking account pays interest (small amt), so why should I want money taken out of there quicker using debit?

I've had my USAA debit card stolen and used for $150+ (would have been more but the guy decided to buy a motel room 1 town over from me, and I found his ass) and USAA didn't hassle me the least bit with giving me back every dime.

Maybe ya'll bank with the wrong people.

Not everybody has a bank like USAA, that was a relatively small amount, and their support wouldn't have amounted for much if it meant other payments to other people were missed.

Posted: 9/29/2011 2:12:34 PM EDT

[#19]

Two is one, one is none.

In other words the debit card is a backup just in case my paid off every month credit card isn't accepted someplace (or is stolen, or used fraudulently).

Posted: 9/29/2011 2:16:06 PM EDT

[#20]

Quoted:

Why does anyone need a debit card? I charge everything on my no annual fee Visa and pay it off at the end of the month. If you put it on your credit card, you get to use the money for free through the billing cycle. I am in my 50's and have never had a debit card in my life. I actually tell the bank to deactivate any debit card features on any of my accounts. Here's why:

If your credit card is used fraudulently, you can only be held legally liable for the first $50. Under the law, your debit card liability could be as much as $500 and your checking account could be fraudulently drained completely. It gets worse because you'll be bouncing checks that you already have written, and paying bounced-check fees on every check that bounces. Also it could take the bank weeks to credit you back the cash.

So why would anyone want a debit card?

Because I would spend money I do not have.

You have better self control than me.

Posted: 9/29/2011 2:16:24 PM EDT

[#21]

Quoted:

Quoted:
Why does anyone need a debit card? I charge everything on my no annual fee Visa and pay it off at the end of the month. If you put it on your credit card, you get to use the money for free through the billing cycle. I am in my 50's and have never had a debit card in my life. I actually tell the bank to deactivate any debit card features on any of my accounts. Here's why:

If your credit card is used fraudulently, you can only be held legally liable for the first $50. Under the law, your debit card liability could be as much as $500 and your checking account could be fraudulently drained completely. It gets worse because you'll be bouncing checks that you already have written, and paying bounced-check fees on every check that bounces. Also it could take the bank weeks to credit you back the cash.

So why would anyone want a debit card?

After having all my stuff paid off except for my house , my credit score is too low to qualify for a CC.

I went to the bank I do all my banking at , paid off three loans there. Now granted those loans were years ago last one was paid off in 2004 . I ask bank lady, can I have a CC ??

She says lets look at your credit score.

Her

Um sir your credit score is 639 , now I could be off a little maybe it was 625 but some where in the low sixes. Im like woa I dont owe anybody any money paid off three loans at your bank, whats up with that??

She says you need to ahve THREE revolving line of credit at all times or your score will go down over time.

So this was 2 years ago.

FF to now. My credit score is currently 590 . I just checked into buying a car so I could find out my score.

590

I make the median income 40-45k a year. I only owe on my house, I have savings and am doing ok for being a single guy. Kids are taken care of, I got money for ammo and fishing gear.

I have friggin money but a CC?? Fuck no. Im not asshole deep in debt so they think IM A BAD RISK

Hey fucktards, Im a better risk than Johnny fuckstick and his money ho who spend a grand a month on eating out and fucking lattes for the ride to work in their BMW, who have exactly .05cents left after payday and bills are paid.

Fuck banks AND their CCs. I want to buy something?? I save money and pay cash.

Credit scores determine risk.

Hard to say without seeing all 3 of your credit bureaus. Could be a collection on one. BKs? Late Payments? Debt to income ratio? Debt to credit ratio? Length of time? Lots of inquiries?

Sounds like length of time and no revolving credit is your primary problem but hard to say without being able to see the breakdown.

Posted: 9/29/2011 2:17:24 PM EDT

[#22]

Quoted:

Quoted:
I've used my debit card all across the world and have never had a problem.

yeah well dont use that shit at the internet Cafe on the boardwalk at KAF , or you may have a problem

I never used it to pay merchants in Afghanistan. I saw the signs.

Posted: 9/29/2011 2:17:36 PM EDT

[#23]

Quoted:

I use my debit card because it hurts my ass to sit on a fat wallet all day long.

This - I remember the days of fat wallets and the $mell of money.

Cleaner - paper money is like an unwashed cloth and is full of bacteria.

Safer - less muggers due to people having hundreds/thousands on them, but not in a way that a thief will kill you over.

Side note -> Anyone notice the float time on checks has all but disappeared? Might as well use a debit card. Even we have a check scanner at the office to make deposits, saving fuel/time/wear and giving us access to funds faster (for $99/mo fee).

Posted: 9/29/2011 2:17:43 PM EDT

[#24]

Quoted:

Quoted:

I've used my debit card all across the world and have never had a problem.

You are a brave man. Something tells me your "all across the world" has been pretty limited, though - since I have had a hard time using even credit cards in many places. At least I wasn't afraid of my checking account being drained if I got hacked, though.

Canada, Europe, Israel, India, Philippines, Japan and Singapore are places I've used my bank's Visa/Debit card. I like Discover, but they aren't accepted in many places. AMEX has been getting denied more as well. The last restaurant that wouldn't take AMEX said their fees were too high.

Posted: 9/29/2011 2:20:19 PM EDT

[#25]

Quoted:

Quoted:
I've used my debit card all across the world and have never had a problem.

You are a brave man. Something tells me your "all across the world" has been pretty limited, though - since I have had a hard time using even credit cards in many places. At least I wasn't afraid of my checking account being drained if I got hacked, though.

Germany, Belgium, CZ, Holland, Thailand, Qatar, Kuwait, PX's in Afghanistan, all across the states. -shrug- never a problem.

forgot, Korea, Japan...there's a lot more... I don't think my experience is "limited"...

Posted: 9/29/2011 2:20:25 PM EDT

[#26]

Quoted:

Quoted:

Dude.

I get paid direct deposit (don't have a choice, but I prefer it that way anyhow) having a debit card gives me instant access to my money.

And I don't pay interest on fucking tic-tacs.

Fuck checks, I don't have 2 weeks for some douchebag to decide whether or not he's going to cash the goddamn thing.

I'll pay people in cash or debit, I have a CC but it's strictly for emergencies.

Most CC companies have a grace period on purchases that runs the whole first cycle. Ergo, you don't pay interest on anything if you pay everything off regularly.

Why not just use a debit card then?

Because a credit card is not attached to your assets. This is what makes it a 'credit' card.

Over time, Debit Card protections have gotten MUCH better, but I still prefer not having merchants being able to debit my accounts directly.

Posted: 9/29/2011 2:22:40 PM EDT

[#27]

Quoted:
Why does anyone need a debit card? I charge everything on my no annual fee Visa and pay it off at the end of the month. If you put it on your credit card, you get to use the money for free through the billing cycle. I am in my 50's and have never had a debit card in my life. I actually tell the bank to deactivate any debit card features on any of my accounts. Here's why:

If your credit card is used fraudulently, you can only be held legally liable for the first $50. Under the law, your debit card liability could be as much as $500 and your checking account could be fraudulently drained completely. It gets worse because you'll be bouncing checks that you already have written, and paying bounced-check fees on every check that bounces. Also it could take the bank weeks to credit you back the cash.

So why would anyone want a debit card?

Cause they're suckers and fell for the marketing drivel.

You are 100% correct.

And your statement above is why I will never own one.

Posted: 9/29/2011 2:22:48 PM EDT

[#28]

Cash or CC.

Hate the debit card.

Every time you use it, you open your bank acct up to t'he world', albeit briefly.

The laws that protect credit cards DO NOT APPLY to debit cards, although many banks extend the same protections in their internal polices, they do this of their own goodwill and are not legally required to do so.

Of all the CC companies, AMEX seems to be the most consumer oriented. The others tend to favor the merchants.

YMMV.

Posted: 9/29/2011 2:26:10 PM EDT

[#29]

Quoted:
Two is one, one is none.

In other words the debit card is a backup just in case my paid off every month credit card isn't accepted someplace (or is stolen, or used fraudulently).

I have 6 cards in my wallet:

-no annual fee Visa (paid in full each month)
-no annual fee Costco American Express (paid in full each month)
-CHL
-Drivers License
-ATM card
-Health insurance card

I can go months and months without ever needing a dollar of cash. The only time I get money out of an ATM is before I take a trip. Why do I need cash for my day to day stuff? I use the banks money for a month or so and then I pay them back in full each month, and get cash back on everything I spend. I get about $600 cash back every year. You gotta work the system to your advantage.

Posted: 9/29/2011 2:27:31 PM EDT

[#30]

I make enough money that I don't need the 1% back from the couple hundred dollars a week I spend.

If I miss $4 a month I'm in deep shit.

Posted: 9/29/2011 2:29:52 PM EDT

[#31]

Quoted:
Don't forget bonus points for CCs. I make $500 off goodies from my Discover, a year.

I can't think of a single thing a Debit card can do - let alone do better.

Every debit card I have ever had, has been eligible for rewards programs.

ETA: I have more than one bank account. I only use the debit card from the "fun money" account to buy things online. It's my own little protection program in addition to the other protections afforded to me by the bank.

Posted: 9/29/2011 2:32:14 PM EDT

[#32]

No one will give me a credit card. I don't owe anyone money, I never purchased a new car, I never took out student loams because my school was paid for out of pocket and I'm currently living in a rental house, paid for with cash.

Apparently the bank doesn't think I'm worthy enough to have a CC, so I use Debit.

Posted: 9/29/2011 2:37:14 PM EDT

[#33]

Quoted:

Quoted:
Debit cards are handed out when you get a checking account. You dont have to apply for one and im not sure you can be turned down for one.

Not to say that credit cards dont have their place but obviouly the demand was/is there since debit cards came after credit cards.

For me id rather the money just come out of my checking rather than bothering to pay off the balance later.
Many also grew up with the mindset that CC's were only to be used in case of emergency.

The bank wants you to use a debit card because they get a fee from the merchant when you use the debit card and it costs a lot less to process an electronic transaction than a paper check. That's why the bank happily gives you a debit card.

They want you to use a debit card because they always enable "overdraft protection" by default. So if you go over by $0.37 on a cup of coffee, instead of declining your card, they cover the overdraft and ding you $25 each time. Ideally, you don't realize you've gone over and rack up many overdraft fees.

Use a CC for everything, pay it off in full each month. Some cards have rewards points/cash back and $0 fraud liability.

Posted: 9/29/2011 2:41:36 PM EDT

[#34]

Quoted:

Quoted:
I've used my debit card all across the world and have never had a problem.

You are a brave man. Something tells me your "all across the world" has been pretty limited, though - since I have had a hard time using even credit cards in many places. At least I wasn't afraid of my checking account being drained if I got hacked, though.

Germany, Belgium, CZ, Holland, Thailand, Qatar, Kuwait, PX's in Afghanistan, all across the states. -shrug- never a problem.

forgot, Korea, Japan...there's a lot more... I don't think my experience is "limited"...

I had a hard enough time just using a Credit Card in Germany. More power to you.

Thailand was brave of you. CZ sort of. Push a bit further east from there, and hold on tight to your ass[ets].

Posted: 9/29/2011 2:43:06 PM EDT

[#35]

Quoted:
Why does anyone need a debit card? I charge everything on my no annual fee Visa and pay it off at the end of the month. If you put it on your credit card, you get to use the money for free through the billing cycle. I am in my 50's and have never had a debit card in my life. I actually tell the bank to deactivate any debit card features on any of my accounts. Here's why:

If your credit card is used fraudulently, you can only be held legally liable for the first $50. Under the law, your debit card liability could be as much as $500 and your checking account could be fraudulently drained completely. It gets worse because you'll be bouncing checks that you already have written, and paying bounced-check fees on every check that bounces. Also it could take the bank weeks to credit you back the cash.

So why would anyone want a debit card?

Because we're not you and we don't charge it to a no annual fee Visa and pay it off at the end of the month?

Wow. Startling idea, I know.

Posted: 9/29/2011 2:46:23 PM EDT

[#36]

I get rewards for my USAA debit card AND credit card. Debit for smaller purchases and credit for larger.

USAA's protection policy is excellent for both cards, so I'm not worried.

Posted: 9/29/2011 2:50:48 PM EDT

[#37]

Because I prefer to use my own money. I do not like the feeling of using someone else's money to buy something, then pay them back.

Posted: 9/29/2011 3:03:45 PM EDT

[#38]

I've taken enough identity theft reports to know to avoid Debit cards.

Posted: 9/29/2011 3:06:35 PM EDT

[#39]

Quoted:
I only use a debit card. Its the same as using cash.

No it's not. Those who issued your debit card can collect data on your purchasing habits, just like they do for those who buy with a credit card. The credit card advantage is that you get to play with your money for a few days before you write the check.

Posted: 9/29/2011 3:12:02 PM EDT

[#40]

Quoted:

Because I prefer to use my own money. I do not like the feeling of using someone else's money to buy something, then pay them back.

That's a valid point, but not one that troubles me personally.

Posted: 9/29/2011 3:14:39 PM EDT

[#41]

Lots of reasons to use a debit card. They give it to me free and I don't have to fill out any more paperwork bulllshit. Paying it off is more work than it is worth. I don't spend nearly enough to benefit from rewards. The rates are way too high if I do miss a payment. I had direct deposit so a debit card was easy way to get cash which I used most often anyways. Debit card is really only used for gas if I don't have the cash.

Posted: 9/29/2011 5:54:06 PM EDT

[#42]

Quoted:

Quoted:

I've used my debit card all across the world and have never had a problem.

You are a brave man. Something tells me your "all across the world" has been pretty limited, though - since I have had a hard time using even credit cards in many places. At least I wasn't afraid of my checking account being drained if I got hacked, though.

Germany, Belgium, CZ, Holland, Thailand, Qatar, Kuwait, PX's in Afghanistan, all across the states. -shrug- never a problem.

forgot, Korea, Japan...there's a lot more... I don't think my experience is "limited"...

I had a hard enough time just using a Credit Card in Germany. More power to you.

Thailand was brave of you. CZ sort of. Push a bit further east from there, and hold on tight to your ass[ets].

When I lived in Germany from 1993-1997 I would have agreed with you. Now that I've been traveling the world since 2002, there haven't been any issues I can think of. I forgot to put China on my original list too.

Posted: 9/29/2011 6:16:24 PM EDT

[#43]

So why would anyone want a debit card?

I follow your logic about the CC. And, I use a CC (for the rewards) whenever I can.

However.......

There is one place where I do use my debit card religiously.............that is............while shopping for food at WinCo. They won't take a CC and I don't usually carry around my check book (it's at home).

I may have to go back to shopping for food at Wal Mart.

Aloha, Mark

Posted: 9/29/2011 6:19:00 PM EDT

[#44]

Quoted:

Quoted:
I've used my debit card all across the world and have never had a problem.

You are a brave man. Something tells me your "all across the world" has been pretty limited, though - since I have had a hard time using even credit cards in many places. At least I wasn't afraid of my checking account being drained if I got hacked, though.

Germany, Belgium, CZ, Holland, Thailand, Qatar, Kuwait, PX's in Afghanistan, all across the states. -shrug- never a problem.

forgot, Korea, Japan...there's a lot more... I don't think my experience is "limited"...

I had a hard enough time just using a Credit Card in Germany. More power to you.

Thailand was brave of you. CZ sort of. Push a bit further east from there, and hold on tight to your ass[ets].

When I lived in Germany from 1993-1997 I would have agreed with you. Now that I've been traveling the world since 2002, there haven't been any issues I can think of. I forgot to put China on my original list too.

I just moved back to the States in December. I couldn't use a credit card at the grocery store, the hardware store, even as big an international chain as Ikea.

Posted: 9/29/2011 6:27:54 PM EDT

[#45]

VISA debit card tied to my checking account via Wackovia>Wells Fargo with fraud protection.

Don't do CCs any longer.

I get points too, for free shit.

Used anywhere a VISA card is accepted, which is to say...everywhere.

Chris

Posted: 9/29/2011 6:39:21 PM EDT

[#46]

Quoted:

I've used my debit card all across the world and have never had a problem.

Yep, I bank locally and my debit/check card has the same fraud protection as a CC. I buy online frequently, use it traveling, in restaurants, etc... and never a hijack......

Posted: 9/29/2011 6:53:13 PM EDT

[#47]

There are limits on how much can be used on a debit card, roughly 2000 at quite a few banks. It is a LOT more secure then checks. No one has your account and routing number, no one can wash your debit card, and your information is floating around on a piece of paper. Debit cards can be used to withdraw cash damn near anywhere. They are good to at least keep in your wallet. I run everything on my credit card and pay it off at the end of the month. Helps me keep track of how much I spend each month, and safer than a debit card since you just have to call the company and say "I didn't buy that," and the money does not have to be refunded to your card. To each his own, but to say a debit card is useless is silly.

Posted: 9/29/2011 7:08:15 PM EDT

[#48]

I had the same CC for 20 years. Like many, I let the debt creep up, and Citi was happy to increase my limit.

Eventually I had a 20K limit with about 14k on it. I decided to pay it down. As the debt went down, so did the limit, and the interest rate went up.

I was not amused. At zero debt, I had a 500.00 limit at 28%. Thanks.

When the card expired, I was sent a 1 year card instead of a 3 year.

I took the hint and never activated it.

I have no debt but my house, and i'm right side up and not planning to sell anyway.

If I need a loan I"ll go to the Mafia. They seem to be a bit more respectable than banks these days.

Posted: 9/29/2011 7:18:43 PM EDT

[#49]

Quoted:

Quoted:

Costco only takes debit.

I don't write checks so the bouncing point is moot.

Why mess with paying a CC off when I can directly debit my account?

Costco will give you a free no annual fee American Express card, and they accept American Express.

As I said in the OP....if your debit card is used fraudulently, they can drain your checking account completely and you can be liable under the law for up to $500. It may take a while to get your money back. Liability for credit card fraud is $50.

Yeah that's true, but I bank with USAA and like to keep everything there. I don't really want to have a special card just for Costco, unless there is some other awesome benefits.

USAA also has a zero liability policy for fraud on their credit and debit cards so I'm not real concerned with my debit being more dangerous than my credit.

I have USAA banking and it is excellent. You do actually accrue rewards on your debit purchases.

Posted: 9/29/2011 7:22:49 PM EDT

[#50]

Quoted:
Don't forget bonus points for CCs. I make $500 off goodies from my Discover, a year.

I can't think of a single thing a Debit card can do - let alone do better.

I get cash back for points on my debit card...I average $100 a yr from it..

[ARCHIVED THREAD] - Why Does Anyone Need a Debit Card? (Page 2 of 3)

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