Reply to Thread

Why not get another credit card with a different company, a rewards card is great. You get rewards for using the card. I use ours a lot but pay it off every month.

I went for the first 10 years after getting married without a credit card. I then started taking my Wife and Kids snowskiing and I would have to shell out $250 x 5 in deposits on ski rentals. When I took the skis back they would tell me "We'll have to send you a refund check in a couple of weeks". We also ran into the same thing with Hotels and Rental cars.
Now we just charge it on our free CC and pay it off each month. I have also accumulted enough points for a trip to Hawaii if I chose to use them.

I haven't had a CC for over 10 years and don't miss it.. As one post said, "if you don't got the money, you don't need it."

That's the way I see it as well.

I had no issues with getting a hotel or tickets with my bank card.

Originally Posted by Swampfox

Use a Debit Card

I kicked the CC companies to the curb also, they are evil

Now if they would just stop calling lol

I would stay away from the debit cards for online purchases. You cannot do a chargeback on a debit card like you can a credit card.

Give it a try. Though the issue is very sensitive for banks and the like. Their whole system is very insecure by design, and they lobby hard not to get any laws passed similar to CC protection. Money does get stolen, and sometime it is not recovered, so it will have to come out of the pocket of the bank. This doesn't happen often, but it does happen, and could be catastrophic, like a serious illness. At that point the banks do the health insurance thing: they decide which is cheaper, to pay off the customer, or battle it out in courts. It's only business.

I wonder if I take this info you have provided, and post it on the Dave Ramsey chat board and see if I could get his interest and see if he might respond. This is interesting. And I thank you for the leg work.

Originally Posted by Dowadudda

And I say that taking you at word for the federal law. I am not sure what the federal law does in fact provide for.

http://www.fdic.gov/regulations/laws...6500-1350.html

§ 909 more specifically. The consumer is provided very strong protection, that's why CC companies are very very liberal with issuing quick refunds for anything a consumer reports as fraudulent. They do this not because they are nice, but because it's the law, and the burden of proof is on them.

Most other types of accounts, such as a regular bank accounts, or a brokerage accounts, are not protected. If money goes missing from there, and the bank doesn't feel nice enough to refund it, it will have to go to court. The US banking system is a huge quagmire. We still toss around these papers called checks with a few numbers on them, with no protection whatsoever against someone just printing a check with someone else's account #. It's that easy to make someone's balance go down.

I don't know why anyone would want to go without a credit card personally. How do you rent a car a hotel and various other things. Pay it off every month and its free. I pay 50 bucks a year for mine but my reward points offset that bigtime. As for the retailers who build their prices up 3 percent to cover the cost I have never had a 3 percent discount for paying cash. Just makes life easier as long as you don't carry a balance I don't care what my interest rate is it could be 70 percent because as long as it is paid every month the interest is 0. Alot of posts say if you can't pay cash don't buy it. I say thats true. However pay with your card get your rewards go home and pay it off online. Seems simple to me

Yeagh fuji but at this point and going forward with the incredible growth of the use of Debit cards, they don;t have a choice but to afford you the same protections or they will lose the business. Someone will step in and do it otherwise. You got that excerpt from where I don't know but what I read on Visa's website per the link I posted, it states "ZERO LIABILITY PROTECTION" with another link and it says you have to comply by reporting with in 30 days. To me that's fair enough and long enough.

And I say that taking you at word for the federal law. I am not sure what the federal law does in fact provide for.

Originally Posted by Dowadudda

This notion that debit cards are not protected to the extent credit cards are is untrue. Flat out incorrect. I always thought they were not protected too.

But.

I was listening to Dave Ramsey last week, and he had a whole segment on this, due to a bank guy somewhere in a national newspaper who purported the false claim of debit cards not being provided the same protections as credit cards.

He put it to rest. Clark Howard also claims this. Debit cards are afforded the exact same protections as a regular credit card if it is issued by VISA or MASTERCARD.

It even says so on their websites.

Visa's guarantees are not the same as protection by federal laws.

1Covers U.S.-issued cards only. Does not apply to ATM transactions, PIN transactions not processed by Visa, or certain commercial card transactions. Individual provisional credit amounts are provided on a provisional basis and may be withheld, delayed, limited, or rescinded by your issuer based on factors such as gross negligence or fraud, delay in reporting unauthorized use, investigation and verification of claim and account standing and history. You must notify your financial institution immediately of any unauthorized use. Transaction at issue must be posted to your account before provisional credit may be issued. For specific restrictions, limitations and other details, please consult your issuer.

Loopholes to possibly deny any claim when times are tough. Sorry, you didn't report unauthorized use fast enough! Or any other excuse they can use from "other details".

Physically doin pretty good, mentally, well pretty much insane still

how are you doing health wise?

I've always wondered why some stores card reader asks if it's credit or debit.

I write 3 checks a month for utilities, really should get them switched over to automatic withdraw someday. I'll admit I don't use cash very often since I rarely go to the bank to get cash (nor ATMs).

I have a debit card through my bank, I also have a credit card through my bank with a whopping 10% interest, tough to beat that.

I used to use the credit card all the time and just pay it off, then I got the debit card and use it 99% of the time now. I should go back to the credit card, I get some small % back for using it, free money is free money!

I do however use my credit card now solely for work related expenses (that they pay back). I was using my debit card, but with how they pay you back it's impossible to make sure you get all your $ back. Kinda irks me that I work for a multi billion/trillion dollar company and they require us to use our money for so much and are so leisurely at paying it back (usually 2-4 weeks)

My bank now will record the debit as fast 10 minutes after I use it when I go online and check my bank account. That is fantastic. If I buy something as a debit instead of buying with the debit as a charge. Charge buying takes longer to show up. Don't ask me why this is, I don't know.

There have been places I have gone to to buy something and they won't do the debit but accept the debit as a charge. I will walk out. I am thinking the merchant fees somehow benefit them as charges and not as debits.

Anyone know why?

Originally Posted by Dowadudda

This notion that debit cards are not protected to the extent credit cards are is untrue. Flat out incorrect. I always thought they were not protected too.

But.

I was listening to Dave Ramsey last week, and he had a whole segment on this, due to a bank guy somewhere in a national newspaper who purported the false claim of debit cards not being provided the same protections as credit cards.

He put it to rest. Clark Howard also claims this. Debit cards are afforded the exact same protections as a regular credit card if it is issued by VISA or MASTERCARD.

It even says so on their websites.

As Dave says, If you play with the snakes long enough your goin to get bit. I don't use credit cards. I carry a visa check card for both my business and personal. I used to use checks for the business but now they just scan them and hand them back. So why fight the trend.

http://usa.visa.com/personal/using_v...nce/debit.html

This notion that debit cards are not protected to the extent credit cards are is untrue. Flat out incorrect. I always thought they were not protected too.

But.

I was listening to Dave Ramsey last week, and he had a whole segment on this, due to a bank guy somewhere in a national newspaper who purported the false claim of debit cards not being provided the same protections as credit cards.

He put it to rest. Clark Howard also claims this. Debit cards are afforded the exact same protections as a regular credit card if it is issued by VISA or MASTERCARD.

It even says so on their websites.

When there were disputes with vendors my credit card companies suddenly lost the ability to understand spoken English.

I recommend all correspondence with these people be in writing. If you e-mail them but they respond by phone, watch out. They can tape you but you may not be able to tape them.
http://www.google.com/search?hl=en&c...22&btnG=Search

Credit cards also have other benefits and protections. Eight months ago we signed a contract with a company called Local AD link an internet advertising company. After 6-months we saw no evidence that they were doing what they promised. The person that sold us the plan called and said he found out the company was a scam and to ask for our money back. We did and they just offered more of nothing, we called Discover and filled a complaint. Discover refunded our money and investigated and finalized the credit in full.

Originally Posted by JRINJAX

They ran up a 10K bill on the card, buying motherboards for video gaming computers from Tokyo. The bank refunded everything to us.

Some facts:

- An individual is only liable for $50 of fraudulent charges on a CC. It's the law.
- An individual is liable for everything when a debit card is fraudulently used. The bank can be nice and try to recover the money, or even refund from their own, but it's up to them.
- Any place that accepts credit cards already has 3-4% surcharge built into the price, the cost of running a purchase through the credit card network
- Any place that accepts credit cards can't give you a cash discount, it's against the contract with the credit cards
- Credit cards have cash back/bonus/miles programs that return some of that 3-4% surcharge that all your purchases have

Going cash/debit card only has downsides.