I usually don't use debit card for purchase and now will never. CC serves me fine and the rebate is good. It also helps to know that they are more secure and easier to dispute charges as well.
Debit Card fees spreading across the country!
- Thread starter Cutehumor
- Start date
- Status
Quote:
They(debit cards) have same protection as credit card
Not sure that's true.
http://www.clarkhoward.com/news/clark-ho...a-rip-off/nCjC/
They(debit cards) have same protection as credit card
Not sure that's true.
http://www.clarkhoward.com/news/clark-ho...a-rip-off/nCjC/
I use a Check Card, which runs as a credit card, but is instant withdrawal from Checking. I have a credit card but rarely use it.
I'm in a similar boat, I got stuck in the middle of the JPMorgan Chase merger....I was with Wamu back when they were "Great Western" or something like that.....lol...then Wamu bought them out or something, and transferred us to Wamu, and now Chase....
Think I'm gonna be looking into the local credit unions.....the local one knows me well, since I had to go down every month to pay my loan in person for about 5 months before they could get the direct debit (EFT) set up....
Think I'm gonna be looking into the local credit unions.....the local one knows me well, since I had to go down every month to pay my loan in person for about 5 months before they could get the direct debit (EFT) set up....
Originally Posted By: dwendt44
Quote:
They(debit cards) have same protection as credit card
Not sure that's true.
http://www.clarkhoward.com/news/clark-ho...a-rip-off/nCjC/
Well Chase used to have commercials that clearly stated 0 liability in case of fraud or lost card. Anyway I don't keep more than 1500 on checking, you have savings account for that reason, 401k,CD and so on.
Quote:
They(debit cards) have same protection as credit card
Not sure that's true.
http://www.clarkhoward.com/news/clark-ho...a-rip-off/nCjC/
Well Chase used to have commercials that clearly stated 0 liability in case of fraud or lost card. Anyway I don't keep more than 1500 on checking, you have savings account for that reason, 401k,CD and so on.
JHZR2
Staff member
Originally Posted By: Cutehumor
More banks to come I bet. Hey JHRZ2, you were crying a river. now, your going to be crying an ocean.
HUH??? Yeah, cry me a river... The banks got trillions on the goyim's back, and now they arent making money and charge the same people even more? Wow. I should feel bad for the bank?
You realize there were new laws on interchange fees?
Im happy using cash and CCs from my local bank and CU. No problems, and if there are costs, Ill take my business elsewhere.
Im not worried. Let those "too big to fail" banks fail.
More banks to come I bet. Hey JHRZ2, you were crying a river. now, your going to be crying an ocean.
HUH??? Yeah, cry me a river... The banks got trillions on the goyim's back, and now they arent making money and charge the same people even more? Wow. I should feel bad for the bank?
You realize there were new laws on interchange fees?
Im happy using cash and CCs from my local bank and CU. No problems, and if there are costs, Ill take my business elsewhere.
Im not worried. Let those "too big to fail" banks fail.
$5.00 per month is only $60 per year, for the "privilege" of using a debit card. I don't think so... I won't pay credit card "fees" and I won't pay debit card fees.
BOA has fees, for certain account holders that reach $17 per month. That's $204.00 a year to retain MY MONEY. NOPE! Sorry, but I'm not throwing away $200. Cash works just fine, I can manage my money just fine, and I can use a CC if necessary.
BOA has fees, for certain account holders that reach $17 per month. That's $204.00 a year to retain MY MONEY. NOPE! Sorry, but I'm not throwing away $200. Cash works just fine, I can manage my money just fine, and I can use a CC if necessary.
I also use my local CC. No fees like B of A and no 2-day etc hold on deposited checks.
I NEVER use a debit card. The protections are less and they charge you for research(local bank) if you question a charge and it turns out to be in vendors favor.
Credit cards are the way to go. I love my Amazon.com card as it earns something to purchase from them or simply pay the bill.
I rarely use cash or check for anything except mortgage bill.
Credit cards are the way to go. I love my Amazon.com card as it earns something to purchase from them or simply pay the bill.
I rarely use cash or check for anything except mortgage bill.
gathermewool
Site Donor 2023
Originally Posted By: rjundi
I NEVER use a debit card. The protections are less and they charge you for research(local bank) if you question a charge and it turns out to be in vendors favor.
Credit cards are the way to go. I love my Amazon.com card as it earns something to purchase from them or simply pay the bill.
I rarely use cash or check for anything except mortgage bill.
I have the same card and I love it. When I first got into the work force I used nothing but my USAA debit card. A few years ago I noticed that their CC offered one for one points per dollar, while the debit card was half of that. Two years ago, I checked around and saw that Amazon had a CC through Chase that offered three for one on Amazon purchases, which is where a spend a good chunk of change each year, and two for one on restaurant, gas, and etc. Type purchases. I've been letting Chase pay me to buy things ever since.
I can understand not wanting to have an e-trail, but it doesn't bother me at all. I don't buy pornographic material, nor would I care whether any one wanted to track my purchasing trends. If it somehow means Amazon can offer special deals on things I tend to buy, like electronics, the all the better.
I can also understand wanting to buy things only when you can afford them, but if you're financially responsible, then using a credit card vice cash shouldn't matter. I'm paid biweekly, and usually pay the CC off every two weeks. There are only a handful of times when I've carried a balance, and that's because it made more sense (to me) to pay a small amount in interest than to pull money out of savings-type accounts.
In the end, it seems those who are against credit cards either have low credit, no self control, are overly paranoid, or simply don't know what they're missing. Most older people fall into the latter group. To each his or her own, but free money is hard to pass up. Again, I pay a few dollars (MAX) each year in interest on top of the small amount Chase might soon be charging as a "maintenance" fee, and they pay me a few hundred. Seems like a good deal to me!
I NEVER use a debit card. The protections are less and they charge you for research(local bank) if you question a charge and it turns out to be in vendors favor.
Credit cards are the way to go. I love my Amazon.com card as it earns something to purchase from them or simply pay the bill.
I rarely use cash or check for anything except mortgage bill.
I have the same card and I love it. When I first got into the work force I used nothing but my USAA debit card. A few years ago I noticed that their CC offered one for one points per dollar, while the debit card was half of that. Two years ago, I checked around and saw that Amazon had a CC through Chase that offered three for one on Amazon purchases, which is where a spend a good chunk of change each year, and two for one on restaurant, gas, and etc. Type purchases. I've been letting Chase pay me to buy things ever since.
I can understand not wanting to have an e-trail, but it doesn't bother me at all. I don't buy pornographic material, nor would I care whether any one wanted to track my purchasing trends. If it somehow means Amazon can offer special deals on things I tend to buy, like electronics, the all the better.
I can also understand wanting to buy things only when you can afford them, but if you're financially responsible, then using a credit card vice cash shouldn't matter. I'm paid biweekly, and usually pay the CC off every two weeks. There are only a handful of times when I've carried a balance, and that's because it made more sense (to me) to pay a small amount in interest than to pull money out of savings-type accounts.
In the end, it seems those who are against credit cards either have low credit, no self control, are overly paranoid, or simply don't know what they're missing. Most older people fall into the latter group. To each his or her own, but free money is hard to pass up. Again, I pay a few dollars (MAX) each year in interest on top of the small amount Chase might soon be charging as a "maintenance" fee, and they pay me a few hundred. Seems like a good deal to me!
I just find it funny how these companies are trying to find more and more ways to nickel and dime you out of your money, when they in turn use that money(savings, cd's etc) for investments and profits.
I too have an Amazon.com card, I never bothered to activate it though(still shows on my account and that its available but it is not enabled) because the deal for card never went through(knock $30 off my order, and with a score of 720 through all 3 buruea's) it wasn't intant approved(several years ago). So I hate the money and they didn't want to re-imburse the $30).
Don't get me wrong, Credit Cards are good, but the contracts are always changing and it is NEVER for the better. HSBC is probably the worst card to have if you read the horror stories about their interest rate hikes, Citi is a big offender as well.
[censored], they even enrolled me in their Citicash rewards program(I never authorized it) and when I finally called and asked that I have them switch it to airline miles or cashback and to transfer the rewards I had accrued(over $5000 citicash) they refused. So once I have it paid down significantly, I'm doing a ZERO balance transfer and closing it out. I'll get a good rewarding card down the road.
Debit cards are handy, just need to be careful where you use it. If I am out of town I usually will hit up my bank(with a teller) and withdraw cash and use the cash around town).
I too have an Amazon.com card, I never bothered to activate it though(still shows on my account and that its available but it is not enabled) because the deal for card never went through(knock $30 off my order, and with a score of 720 through all 3 buruea's) it wasn't intant approved(several years ago). So I hate the money and they didn't want to re-imburse the $30).
Don't get me wrong, Credit Cards are good, but the contracts are always changing and it is NEVER for the better. HSBC is probably the worst card to have if you read the horror stories about their interest rate hikes, Citi is a big offender as well.
[censored], they even enrolled me in their Citicash rewards program(I never authorized it) and when I finally called and asked that I have them switch it to airline miles or cashback and to transfer the rewards I had accrued(over $5000 citicash) they refused. So once I have it paid down significantly, I'm doing a ZERO balance transfer and closing it out. I'll get a good rewarding card down the road.
Debit cards are handy, just need to be careful where you use it. If I am out of town I usually will hit up my bank(with a teller) and withdraw cash and use the cash around town).
Originally Posted By: gathermewool
...To each his or her own, but free money is hard to pass up...
Strictly speaking, this isn't free money but rather paid by consumers. I enjoy my "free" money as well.
...To each his or her own, but free money is hard to pass up...
Strictly speaking, this isn't free money but rather paid by consumers. I enjoy my "free" money as well.
Originally Posted By: benjamming
Originally Posted By: gathermewool
...To each his or her own, but free money is hard to pass up...
Strictly speaking, this isn't free money but rather paid by consumers. I enjoy my "free" money as well.
This free money, rewards cards, and free banking will probably be ending in a few years if things stay the way they are. I wouldn't be surprised if they start charging fees for electronic bill payment next!
Originally Posted By: gathermewool
...To each his or her own, but free money is hard to pass up...
Strictly speaking, this isn't free money but rather paid by consumers. I enjoy my "free" money as well.
This free money, rewards cards, and free banking will probably be ending in a few years if things stay the way they are. I wouldn't be surprised if they start charging fees for electronic bill payment next!
Their compensation is the use of your money for financial gain and purposes(ie investing, loans, etc), the interest they make off transactions such as those and many others yield them incredible amounts of return. I love how they can continually manipulate the contracts and customer agreements any time they want, yet we ourselves cannot(except with our feet of course).
http://money.howstuffworks.com/personal-finance/banking/bank1.htm
Quote:
The primary function of banks is to put their account holders' money to use by lending it out to others who can then use it to buy homes, businesses, send kids to college...
When you deposit your money in the bank, your money goes into a big pool of money along with everyone else's, and your account is credited with the amount of your deposit.
http://money.howstuffworks.com/personal-finance/banking/bank1.htm
Quote:
The primary function of banks is to put their account holders' money to use by lending it out to others who can then use it to buy homes, businesses, send kids to college...
When you deposit your money in the bank, your money goes into a big pool of money along with everyone else's, and your account is credited with the amount of your deposit.
Originally Posted By: Anies
Their compensation is the use of your money for financial gain and purposes(ie investing, loans, etc), the interest they make off transactions such as those and many others yield them incredible amounts of return. I love how they can continually manipulate the contracts and customer agreements any time they want, yet we ourselves cannot(except with our feet of course).
Well said.
The competitions (if they are not in a cartel or monopoly) dictates how much they can be compensated both on their vendor and customer sides of businesses.
Let's see how their consumers are going to react and whether they will lose money on the fee or not.
Their compensation is the use of your money for financial gain and purposes(ie investing, loans, etc), the interest they make off transactions such as those and many others yield them incredible amounts of return. I love how they can continually manipulate the contracts and customer agreements any time they want, yet we ourselves cannot(except with our feet of course).
Well said.
The competitions (if they are not in a cartel or monopoly) dictates how much they can be compensated both on their vendor and customer sides of businesses.
Let's see how their consumers are going to react and whether they will lose money on the fee or not.
I bank at a locally owned institution and if they decide I need to pay a $5 a month charge for use...so be it.
An extra 60 bucks a year won't break me.....although groceries might.
An extra 60 bucks a year won't break me.....although groceries might.
gathermewool
Site Donor 2023
Originally Posted By: benjamming
Originally Posted By: gathermewool
...To each his or her own, but free money is hard to pass up...
Strictly speaking, this isn't free money but rather paid by consumers. I enjoy my "free" money as well.
Part of me is sad that my "free money" is the result of those who may or may not have found themselves in positions where they're paying an exhorbitant amount of interest to banks, and that they're obviously not paying out to those like me as much as they're bringing in from those less fortunate.
Another part is thankful that I grew up being taught to live within my means, and that I "deserve" to be rewarded. Either way, it doesn't make sense NOT to take advantage of the rewards that are available to all who are able.
Originally Posted By: gathermewool
...To each his or her own, but free money is hard to pass up...
Strictly speaking, this isn't free money but rather paid by consumers. I enjoy my "free" money as well.
Part of me is sad that my "free money" is the result of those who may or may not have found themselves in positions where they're paying an exhorbitant amount of interest to banks, and that they're obviously not paying out to those like me as much as they're bringing in from those less fortunate.
Another part is thankful that I grew up being taught to live within my means, and that I "deserve" to be rewarded. Either way, it doesn't make sense NOT to take advantage of the rewards that are available to all who are able.
They are not losing money on reward cards. Those cards have a lot higher interest rate (9-25%) than the "zero balance for 12 months" cards.
Some people would run into trouble later by not being able to pay, but for those of us who are disciplined in making full payment each month, it is "free" money.
Some people would run into trouble later by not being able to pay, but for those of us who are disciplined in making full payment each month, it is "free" money.
- Status
Similar threads
- Locked
