10-05-2011 07:44 AM
Why use debit when you can reap points on your CC?
I have transferred all my utilities and bills to my AMEX, then PIF before the due date. Just like using my debit card but with rewards.
+1 Although I have some bills, such as Electric and Gas who either do not take AMEX or want to charge a 'convienience fee' to accept a credit card which IMO negates the rewards, that's the only downfall I see as long as your PIF.
10-05-2011 08:18 AM
I never heard of this before, been using debit/visa for as long as its been around now, about 15 years or so.
Might be time to bring the old check book out moth balls.
10-05-2011 02:34 PM
Mainly because I don't want to support BoA with my money.
But also because I already cut it up and threw away the pieces. I hate having too many cards in my wallet, I'm content with my AmEx/Chase/USAA CCs and debit card. Infact I really dont want the Chase either since I now have the USAA as my backup Visa, but it's my second longest credit line so I might as well not shoot BOTH my feet.
If the card has no AF and you only charge a few dollars a year, then keeping the account open is costing THEM money. I'd get a replacement card, but go ahead and put it in your sockdrawer instead of your wallet. If it's in good standing why let it close and lose that utilization?
That's my 2¢.
10-26-2011 09:29 PM
I'm thinking about getting rid of my BOA checking and savings account. I have had NOTHING but trouble with them for the past few years. When I went to Spain, I called ahead of time and put a travel alert on my credit and debit accounts. Then, I get to Spain and bought a plane ticket within the country of Spain. Guess what? My credit card was shut down for "suspicious activity in Spain". Good thing it wasn't my debit card or I'd have been screwed! Then on top of that, their foreign transaction fees are $5 on top of whatever the foreign bank wants to charge you to use their machine. I've spent hundreds of dollars on BOA foreign transaction fees alone. Due to my limited access to phone while abroad, I tried to reach out to them online and was never contacted. Once I got back stateside, I let them have it and all they could do was apologize.
To add insult to injury, I had a very large check and they tried to investigate it for fraud and had the nerve to offer me a measly $100 in exchange for a check that was worth nearly $100K for 7+ business days. Luckily I'm no dummy so I took my check to the bank that issued it, opened an account, and had instant access to my money.
BOA sucks and they aren't even worthy of the $350 I have in my accounts now. I'm definitely going to close my accounts when I get the time.
10-26-2011 10:09 PM
I haven't yet closed my BoA checking account, but I haven't used it in months. I have the CampusEdge checking, so I don't even know if I get the fee or not.
I switched to SunTrust because it's partnered with my college and links my student ID with my checking account, making buying things around campus a lot easier, and it's completely free. Plus my loans and scholarship overpayment get deposited directly into my account the day they are dispersed (instead of waiting for a check). I also have a checking account with the FSU credit union, which I use sometimes.
I may keep it open a little longer and use it every once in a while, as a sort of courtesy, since BoA just gave me a CC.
10-27-2011 02:31 PM
10-27-2011 02:37 PM
I am but only because it is such a major pain to change banks. I also have my mortgage with them so I am hoping my combined business will be enough to have the fee waived.
If you have a mortgage with them, do you have their Advantage account? Any balance on a first mortgage with them qualifies you for Advantage checking with no monthly maintenance fees. The Advantage account will not be subject to this debit fee.
10-27-2011 04:14 PM
10-27-2011 04:25 PM
Maybe if the banks were somewhat responsinble with money, they wouldn't have to be bailed out and then regulated?
USAA has better online banking, by far, because that's the only way TO do banking. Granted, they don't have brick and mortar, but in the 5 years I've been with BoA, I went in to an actualy store maybe 3 times, each to fix an error on their behalf, or most recently, to close my account.
10-27-2011 07:29 PM
I'm staying. The debit card fees won't be active until January and additionally if you swipe it as credit you want receive the fee. Regardless, I don't know of a bank with better online banking or accessibility to a brick and mortar. I'll pay the 5 bucks of i have to. It's not that big of a deal.... It isn't 5$ per transaction. And if the banks werent getting drowned in regulation we wouldn't have to deal with this nonsense. Even redbox is increasing its price because of debit card fee changes due to excessive regulation. So i won't fuss (much).
The fee will apply regardless if you run it as debit or credit.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO