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Posted: 9/29/2011 12:26:35 PM EST
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?
Link Posted: 9/29/2011 12:27:40 PM EST
[Last Edit: 9/29/2011 12:27:58 PM EST by N1Rampage]
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.
Link Posted: 9/29/2011 12:28:40 PM EST
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?
Link Posted: 9/29/2011 12:30:14 PM EST
IIRC, Clark Howard calls them "Idiot Cards".
Link Posted: 9/29/2011 12:30:29 PM EST
I only use a debit card. Its the same as using cash.
Link Posted: 9/29/2011 12:31:16 PM EST

Originally Posted By RolandofGilead:
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?

Autopay from your checking account to the CC. Same function as a debit card with no PIN to enter, and rewards points.

For some people, a debit card gives the convenience of a credit card when they have no or shitty credit and could only get something like a secured credit card.
Link Posted: 9/29/2011 12:33:19 PM EST
Originally Posted By RolandofGilead:
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.
Link Posted: 9/29/2011 12:33:24 PM EST
Mostly for convenience.

With a CC, plenty bad could happen - and even though these bad things would be the direct result of poor personal fiscal discipline, they are still bad things.

1. If you're late with your CC payment, it's expensive.
2. If you spend more than you have, you're going to pay interest on the unpaid balance.

With a debit card, you don't need to worry about late payments and unless you're really bad with personal finances there won't be any overdraft fees either. There's obviously no risk of interest on an unpaid balance.

Not to mention, there are plenty of folks that don't want or can't get a CC for a variety of reasons.

I will agree with you in principle, but your method only works for financially disciplined folks.
Link Posted: 9/29/2011 12:33:26 PM EST

Originally Posted By LOW2000:

Originally Posted By RolandofGilead:
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?

Autopay from your checking account to the CC. Same function as a debit card with no PIN to enter, and rewards points.

For some people, a debit card gives the convenience of a credit card when they have no or shitty credit and could only get something like a secured credit card.

Yeah sure, you could do that but why? I mean why NOT use a debit card?
Link Posted: 9/29/2011 12:34:37 PM EST
I use AmEx for most things for points/rewards. I use the debit card at establishments that offer "cash discounts" or don't accept credit cards generally (I also get points/rewards).

I don't live most of life worrying about the minute chance that someone will steal my debit card info.
Link Posted: 9/29/2011 12:35:12 PM EST
I use my debit card for most things, but I've been switching over to my AMEX card since I can use the points for $$$ over on Amazon.com.
Link Posted: 9/29/2011 12:35:31 PM EST

Originally Posted By RolandofGilead:

Originally Posted By LOW2000:

Originally Posted By RolandofGilead:
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?

Autopay from your checking account to the CC. Same function as a debit card with no PIN to enter, and rewards points.

For some people, a debit card gives the convenience of a credit card when they have no or shitty credit and could only get something like a secured credit card.

Yeah sure, you could do that but why? I mean why NOT use a debit card?

Do any debit cards give rewards points?

I used to use my debit exclusively, then asked myself, why am I not giving myself a 1% discount on everything by getting rewards or money back? Then I switched to a rewards based card and only use my debit card at CostCo and the ATM machine.
Link Posted: 9/29/2011 12:36:27 PM EST
Because the CC costs the merchant about 2%, and that gets passed along, if you know what I mean.
Link Posted: 9/29/2011 12:36:40 PM EST

Originally Posted By HKUSP45C:
I use AmEx for most things for points/rewards. I use the debit card at establishments that offer "cash discounts" or don't accept credit cards generally (I also get points/rewards).

I don't live most of life worrying about the minute chance that someone will steal my debit card info.

Wife and I had debit card info compromised 4 times in as many years. I have never had an issue with my credit cards.
Link Posted: 9/29/2011 12:36:50 PM EST
Some people use debit because it forces them to behave.

I'm like you. Just pay off the card every month and don't charge more than I can pay off. Makes life simpler.

Link Posted: 9/29/2011 12:37:25 PM EST
The x royally screwed my credit up...I agree on all your points though,but unfortunately I don't have a choice
Link Posted: 9/29/2011 12:37:40 PM EST
Convenience.
Link Posted: 9/29/2011 12:37:47 PM EST
[Last Edit: 9/29/2011 12:38:02 PM EST by runcible]
Has this turned into a "CREDIT CARDS ARE TEH DEBIL!" thread yet?

(I use my CC for everything.)
Link Posted: 9/29/2011 12:37:57 PM EST
Atm use and cash back from the register at many stores
Link Posted: 9/29/2011 12:38:54 PM EST

Originally Posted By 57Strat:
Originally Posted By RolandofGilead:
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.
Link Posted: 9/29/2011 12:39:16 PM EST
[Last Edit: 9/29/2011 12:40:07 PM EST by HKUSP45C]
Originally Posted By LOW2000:

Originally Posted By HKUSP45C:
I use AmEx for most things for points/rewards. I use the debit card at establishments that offer "cash discounts" or don't accept credit cards generally (I also get points/rewards).

I don't live most of life worrying about the minute chance that someone will steal my debit card info.

Wife and I had debit card info compromised 4 times in as many years. I have never had an issue with my credit cards.


I read a story about a guy who was struck by lightning 3 times.

The plural of "anecdote" is not "data."
Link Posted: 9/29/2011 12:39:20 PM EST
OP, I agree. I pay for all my Christmas gifts every year with the points from my PNC Bank CC.

Maybe this will help Arf understand.

1. Get a credit card with a rewards program.
2. Spend as you normally would.
3. Pay off card every month.
4. ?????
5. Profit!!
Link Posted: 9/29/2011 12:40:25 PM EST

Originally Posted By VBC:
Some people use debit because it forces them to behave.

I'm like you. Just pay off the card every month and don't charge more than I can pay off. Makes life simpler.


Mostly this.
Link Posted: 9/29/2011 12:40:26 PM EST
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.
Link Posted: 9/29/2011 12:41:09 PM EST

Originally Posted By LOW2000:

Originally Posted By RolandofGilead:

Originally Posted By LOW2000:

Originally Posted By RolandofGilead:
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?

Autopay from your checking account to the CC. Same function as a debit card with no PIN to enter, and rewards points.

For some people, a debit card gives the convenience of a credit card when they have no or shitty credit and could only get something like a secured credit card.

Yeah sure, you could do that but why? I mean why NOT use a debit card?

Do any debit cards give rewards points?

I used to use my debit exclusively, then asked myself, why am I not giving myself a 1% discount on everything by getting rewards or money back? Then I switched to a rewards based card and only use my debit card at CostCo and the ATM machine.


I get my ATM fees back, but that's it..and I rarely use ATMs so no, I don't get any rewards. Actually I used to get 1% back when I used my debit as a credit card (sign instead of pin) but they cancelled that this month.
Link Posted: 9/29/2011 12:41:27 PM EST
[Last Edit: 9/29/2011 12:41:45 PM EST by TheAvatar9265ft]
My debit card used to have a 0.5% cashback award. It is gone now. CC only now. Debit card is now just an ATM card.
Link Posted: 9/29/2011 12:41:34 PM EST
Originally Posted By HKUSP45C:
I use AmEx for most things for points/rewards. I use the debit card at establishments that offer "cash discounts" or don't accept credit cards generally (I also get points/rewards).

I don't live most of life worrying about the minute chance that someone will steal my debit card info.


I have had my credit card account used fraudulently twice in the last two years. It never happened before until the last two years. I have no idea how they got my account info. Thieves were ordering thousands of dollars of stuff and trying to have it shipped to them. The bank caught it and cancelled my account before I ever knew what was happening. The bank contacted me and made me aware of it, and over-nighted me a new card with a new account number. My liability was $0 and it was a minor inconvenience.



Link Posted: 9/29/2011 12:42:02 PM EST
I just use credit an pay it off monthly too...

I do have a debit card, but only use it for ATM withdrawal.
Link Posted: 9/29/2011 12:43:28 PM EST
Better than cash, most places.
Link Posted: 9/29/2011 12:43:34 PM EST
Originally Posted By TerribleTom:
Mostly for convenience.

With a CC, plenty bad could happen - and even though these bad things would be the direct result of poor personal fiscal discipline, they are still bad things.

1. If you're late with your CC payment, it's expensive.
2. If you spend more than you have, you're going to pay interest on the unpaid balance.

With a debit card, you don't need to worry about late payments and unless you're really bad with personal finances there won't be any overdraft fees either. There's obviously no risk of interest on an unpaid balance.

Not to mention, there are plenty of folks that don't want or can't get a CC for a variety of reasons.

I will agree with you in principle, but your method only works for financially disciplined folks.

I use an AMEX Green. Have to pay it off (there is a way to extend but I don't)

Build points


I did the debit card thing for a long time and it was good but I prefer the protection of a CC and the AMEX payment requirement to keep me honest
Link Posted: 9/29/2011 12:44:37 PM EST
It's semantics but you're describing a "check card" not a debit card. I suppose that's what everyone calls them but there is a difference between a check card and a debit card.
Link Posted: 9/29/2011 12:44:43 PM EST
[Last Edit: 9/29/2011 12:46:40 PM EST by Cpatterson]
cause poor people and people with bad or no credit cant get a credit card.

Credit card Auto pay from bank account, fire and forget. I get reward points and if someone skims it in a bar or where ever im not screwed!
Link Posted: 9/29/2011 12:44:57 PM EST
[Last Edit: 9/29/2011 12:45:46 PM EST by TheJammer]
Grocery store where I shop does not accept credit. Cash or debit only.

edit: Forgot to mention some gas stations offer gasoline cheaper if you pay cash v. credit.
Link Posted: 9/29/2011 12:47:30 PM EST
Originally Posted By ex_dsmr:
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.
Link Posted: 9/29/2011 12:47:45 PM EST

Originally Posted By HKUSP45C:
Originally Posted By LOW2000:

Originally Posted By HKUSP45C:
I use AmEx for most things for points/rewards. I use the debit card at establishments that offer "cash discounts" or don't accept credit cards generally (I also get points/rewards).

I don't live most of life worrying about the minute chance that someone will steal my debit card info.

Wife and I had debit card info compromised 4 times in as many years. I have never had an issue with my credit cards.


I read a story about a guy who was struck by lightning 3 times.

The plural of "anecdote" is not "data."

Correct, but when my credit union is having a problem keeping my card number safe, I stopped using it on a regular basis because it is a royal fuck in the ass to have to change everything that is direct billed through that debit card over to the new card.
Link Posted: 9/29/2011 12:47:49 PM EST
[Last Edit: 9/29/2011 12:47:58 PM EST by cavscouty]
I've used my debit card all across the world and have never had a problem.
Link Posted: 9/29/2011 12:49:36 PM EST
Originally Posted By DriftPunch:
I just use credit an pay it off monthly too...

I do have a debit card, but only use it for ATM withdrawal.


Best way to get money when I'm out of the country, which is most of the time.

Debt card has it's uses as does a credit card. Both work for me.
Link Posted: 9/29/2011 12:49:56 PM EST
Originally Posted By DriftPunch:
I just use credit an pay it off monthly too...

I do have a debit card, but only use it for ATM withdrawal.


My ATM card was a combo ATM and debit card. I had the bank deactivate the debit feature. Every time I go through the drive-thru window at the bank, the teller will say "I see you don't have a debit card account. Would you like us to activate your debit feature?"
Link Posted: 9/29/2011 12:51:00 PM EST
GET BOTH

each have strengths and weaknesses
Link Posted: 9/29/2011 12:51:10 PM EST
[Last Edit: 9/29/2011 12:54:09 PM EST by HardShell]
Link Posted: 9/29/2011 12:53:38 PM EST
I use my debit card because it hurts my ass to sit on a fat wallet all day long.
Link Posted: 9/29/2011 12:54:37 PM EST
Originally Posted By RePp:
I only use a debit card. Its the same as using cash.


Link Posted: 9/29/2011 12:56:14 PM EST
Originally Posted By 57Strat:
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.
Link Posted: 9/29/2011 12:56:43 PM EST
Small purchases (coffee, mail something, etc) Debit.

Everything else, credit.

I would put everything on credit, but this way makes it easier for me to budget.
Link Posted: 9/29/2011 12:56:59 PM EST
[Last Edit: 9/29/2011 12:58:35 PM EST by Bohr_Adam]
Originally Posted By RolandofGilead:
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.
Link Posted: 9/29/2011 12:57:00 PM EST
nobody "needs" a debit card nor do they "need" a credit card.

its convenience. i dont carry cash unless im going out drinking with friends (keeps me from running up a tab. monies gone i quit drinking). my credit cards are there for when i need them most (emergancy). i dont keep 100,000 in unsecured credit. i know my own limits of self control and i have to tell myself that credit is for emergancy only. you can say im irresponsible, but i have known many people with 50k, 60k, 70k, in unsecured debt and i have vowed never to become those people.

but the debit card is more convenient than wrighting checks every where i go. the people behind me in line appreciate it too.
Link Posted: 9/29/2011 12:57:33 PM EST
I only use debit because then I never forget to pay my bill each month, yes I'm that lazy/forgetful. Plus it's easier to balance my account when it's up to date every day, not figure out my CC balance vs my accoutn balance.
Link Posted: 9/29/2011 12:57:49 PM EST
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.
Link Posted: 9/29/2011 12:57:59 PM EST
With a VISA debit card you get the same protections as you would if you have a VISA credit card.

Keeps me honest.
I hate "monthly payments".
Keeps me honest.

It costs the retailer money to use a credit card. Yes, I think about that.

Did I say it keeps me honest?
Link Posted: 9/29/2011 12:58:26 PM EST

Originally Posted By cavscouty:
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
Link Posted: 9/29/2011 12:59:45 PM EST

Originally Posted By Assault-Rifle-City:
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.

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