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My debit card gets no more love

Established Contributor

Re: My debit card gets no more love

I, as many people, don't use my debit card, but for different reasons. I never use the ATM, because we bank at an institution that doesn't have an ATM machine on every corner. I hate the fees, and it's a mess to balance a checkbook when my dear ole DH "forgets" to tell me he took money out! I actually shredded our ATM codes. Also, if I douse my bank card, I use the credit portion, because I was told stores can charge fees when you use the debit feature. I still love my cash! Mytill and I still give ourselves cash allowances. Even though I value credit cards and rewards, I am more certain to stay within my budget with cash than when using credit. Disclaimer: no matter what, I always PIF...that I did learn from doing Dave Ramsey, and it has served me well! Lol


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Message 51 of 87
Frequent Contributor

Re: My debit card gets no more love

http://www.bankrate.com/finance/checking/risky-places-swipe-debit-card-1.aspx

 

just a few more reasons why

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Message 52 of 87
Valued Member

Re: My debit card gets no more love

well, if u pay ur balance every month that is in fact borrowing, im a small business owner, a net 30 is a net 30. Credit is only survived by monetary, monetary is survived by itself. Your bank account can be depleted without ever being issued an debit card, people whom temporaily relies on someone else's funding is a risk, perhaps a low one, based on ur credit status and ur wealth. But i do respect anyone who can and pay's their bills. EVERYTHING LIVES OFF MONEY AND MONEY LIVES OFF NO ONE or NO THING!

Message 53 of 87
Established Contributor

Re: My debit card gets no more love


Repo-ed wrote:

 They went on to tell me that my card was swiped at a machine 2+ months ago, that was hacked, and all card numbers were stolen.

 


This happened to me a while back too, with BoA. I didn't even find out until I got home one night and got an email saying my debit card has been deactivated and to call immediately...then the guy told me that no charges were made, but apparently there was a breach at one of the merchants I just used and my card number was stolen. They sent a new one with no issues. I don't know how long ago the breach happened until they waited to tell me, but it seemed like pretty swift action on BoA's part, and I was really happy with their service. Could have been disasterous. Ever since then I've maybe used my debit card a handful of times; I'm much more cautious about it now. 

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Message 54 of 87
Valued Contributor

Re: My debit card gets no more love

I'm certainly happy they were actively monitoring my account for charges that were not on par with usual charges. I just wish if they had intended to deactive the card, just deactivate it and save them the resources of monitoring and me having to wait for a new one when I have no checks and never have cash on hand lol (Depsite having a coin and currency collection - the Irony)

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
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Message 55 of 87
Moderator

Re: My debit card gets no more love


FloridaState12 wrote:

Repo-ed wrote:

 They went on to tell me that my card was swiped at a machine 2+ months ago, that was hacked, and all card numbers were stolen.

 


This happened to me a while back too, with BoA. I didn't even find out until I got home one night and got an email saying my debit card has been deactivated and to call immediately...then the guy told me that no charges were made, but apparently there was a breach at one of the merchants I just used and my card number was stolen. They sent a new one with no issues. I don't know how long ago the breach happened until they waited to tell me, but it seemed like pretty swift action on BoA's part, and I was really happy with their service. Could have been disasterous. Ever since then I've maybe used my debit card a handful of times; I'm much more cautious about it now. 


Breaches are rarely immediately disclosed (initial criminal investigations and other legal issues take precedence, rightly or wrongly); in the case of the 2 months occuring, comparitively, it took two years for UCLA to tell me my student record had been swiped... and that's a much more serious breach though educational institutions aren't held to the same federal mandates that financial and health-care ones are.  

 

BOA's pretty good about fraud prevention: they correctly locked down my card when it had been stolen from an online retailer's database within 15 minutes of the first transaction hitting, and automatically backed the others out without question and re-issued a new card.

 

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Message 56 of 87
Valued Contributor

Re: My debit card gets no more love

Chase was great for me one day I bought a TV on my debit yes my debit because I didn't have credit at the time and it was for like $600 as soon as I swiped my card and I mean within seconds I got a text saying to contact chase right away. About 30 minutes later they called me and asked if I made the purchase I said yes. Asked me a few other questions and said OK your card is now active again... I was like wait " my card was deactivated?" they said yes because it was outside normal spending so we put a stop on the card to make sure... And this was all on a Sunday 


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Message 57 of 87
Valued Contributor

Re: My debit card gets no more love

I have 2 debit cards (one for each regular bank I use) which I use all the time. Since I use my credit cards more as "debit cards" meaning if I charge something I pay in full  within a week online, debit or credit makes no difference to me. Now, for online purchases I use a credit card only, but local purchases.....a debit card as often as a credit card. Note too, I don't really care about "rewards", too much effort for too little return for me at least.

Message 58 of 87
Contributor

Re: My debit card gets no more love


CS800 wrote:

afbar1114 wrote:
i spend about 300-400 a month on gass cant wait for that bcp

You must drive a lot


I sometimes spend that in a week. And I don't drive for a living.

Message 59 of 87
Valued Contributor

Re: My debit card gets no more love


Bigfoot_321 wrote:

CS800 wrote:

afbar1114 wrote:
i spend about 300-400 a month on gass cant wait for that bcp

You must drive a lot


I sometimes spend that in a week. And I don't drive for a living.


I used to average 3200mi/month; just so glad I avg 5k mi/yr $65/mo gas bill, now.  I don't see how people afford $4/gal.  That's insane.

 

I've even made the the decision that if forced to move away from my office due to home prices, I'll just continue to rent.  The 3 mi/7 min drive is more valuable to me then a 1hr sitting in traffic drive and 300+ in gas, to just be called a home owner.

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 60 of 87