Reply
Valued Contributor
Dustink
Posts: 2,997
Registered: ‎10-02-2012
0

Re: Why debit cards are subprime =)



Not true. Budget car rental did a HP in March this year. It was what got me to start taking my credit seriously and begin rebuild.

 

I got hard pulled by Verizon and Comcast over a year ago. Companies like this should be SPing people.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k          $8.5K          Closed          $19k         $6.5k           $24.2k        Closed          $5k         Closed       $8.5k        Closed      @2.49%
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Why debit cards are subprime =)


CreditScholar wrote:

distantarray wrote:

somnipotent wrote:

One overdraft is understandable.  Three on what should have been one, that's criminal. 


yep pretty much, and this is why everyone should LEAVE bank of america since they're hurting so bad especially after buying country wide (company who gave most bad mortgages in the housing bubble) + losing MILLIONS of customers for being the first bank trying to do a $5 month charge to use your debit cards + reorganizing transactions for overdraft etc.


I can't speak for anyone else, but I haven't had any major issues with them. While their CS isn't as good as some others, I don't think they're as bad as some people make them out to be.
Regardless I'm sure Bank of America is actually broke, they lost too much with foreclosures with purchase of Country Wide, if you think Banks can not lie look at the "Lost Decade" in Japan in the 1990's. Samething happened to them with a housing bubble. Even worse than America, Banks lied about how much they had etc.
They are way too desparate to find new fees, they're in the frontier of making new fees whenever they can proves it enough. I banked with them for 13 years had $50,000 + in my accounts they still wanted to charge me $13 for a Cashiers check when I closed my account. I just made sure I went to EVERY Bank of America to pull ALL the cash in each branch location to piss them off. Most banks won't allow you to withdraw $10,000 + in cash cause they carry limited cash. If you don't believe it try taking out $10,000+ they'll bitch everytime. I had to do this when I bought my Lexus with cash for a craigslist seller lol.

 


Dustink wrote:

Maybe you were added as a driver.



99% sure I was not =\


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Frequent Contributor
Sparkz1920
Posts: 271
Registered: ‎08-09-2009
0

Re: Why debit cards are subprime =)


webhopper wrote:

visorboy1974 wrote:

Duncanrr wrote:
Hard pulls everytime you rent a car!

Adding to this facet, when you rent a car or hotel with one, the hold on the account is against real money and not a credit line.  


 

Omg this! I rented a car with my debit card in July 2011... I couldn't believe that hertz hard pulled me. Insane! Glad to have other options now!

Yeah, they did that to my mother when she tried to use her debit card...she was ready for the hold to be placed for using debit and I'm still wondering what's the point if the check 

 

shes in primeville now....no issues


Starting Score: 601
Current Score: 670
Goal Score: 700


Take the FICO Fitness Challenge

NFCU Rewards- 8K......AMEX Delta Skymiles-5k.....Citi AAdvantage AMEX-3.5K...WalMart Discover-4K....Old Navy Visa-2k...BOA-3000...AMEX Green-NPSL....Discover More-1K
Frequent Contributor
Sparkz1920
Posts: 271
Registered: ‎08-09-2009
0

Re: Why debit cards are subprime =)


Dustink wrote:


Not true. Budget car rental did a HP in March this year. It was what got me to start taking my credit seriously and begin rebuild.

 

I got hard pulled by Verizon and Comcast over a year ago. Companies like this should be SPing people.


I work for Comcast and we do hard pull anytime certain services are purchased


Starting Score: 601
Current Score: 670
Goal Score: 700


Take the FICO Fitness Challenge

NFCU Rewards- 8K......AMEX Delta Skymiles-5k.....Citi AAdvantage AMEX-3.5K...WalMart Discover-4K....Old Navy Visa-2k...BOA-3000...AMEX Green-NPSL....Discover More-1K
Senior Contributor
jsucool76
Posts: 3,662
Registered: ‎12-11-2011
0

Re: Why debit cards are subprime =)


Sparkz1920 wrote:

Dustink wrote:


Not true. Budget car rental did a HP in March this year. It was what got me to start taking my credit seriously and begin rebuild.

 

I got hard pulled by Verizon and Comcast over a year ago. Companies like this should be SPing people.


I work for Comcast and we do hard pull anytime certain services are purchased


Comcast I can understand HPing because they're giving you fairly expensive equipment for a LONG period of time. I'd be pissed if I got HPd for renting a car for 2 (expletive) days! I know a car is worth more, but it is for 2 (expletive) DAYS!!! OMG 

>
Contributor
kekrre
Posts: 91
Registered: ‎10-31-2012
0

Re: Why debit cards are subprime =)


distantarray wrote:

jsucool76 wrote:

Debit cards are really just part of the "Cash is King" view on life....

 

Very big +1 to the holds for things like hotel rooms too. I pre-ordered a cell phone from AT&T, and they don't charge until it ships, so I got an authorization on my cap1 for 317.99, and if that was on my bank account, I would be pissed because it is just like "Oh, you have another $318 there, you just can't use it." 


My guess is your with Bank of America.

 

They like to do a disappearing magic trick with my accounts in the past, that's why I fired them last week.

 

I would see the transaction posted immediately within minute or so, then it would COMPLETELY disappear, check my account on my cell Oh I got plenty of money, then come back few days later REORGANIZED. From highest transactions top to lowest on bottom

 

so if you only had $40 in your account and you purchased these in order

 

1. Movies ($7)

2. dinner ($20)

3. Gas ($50)

 

you would have 1 over draft charge.

 

Bank of America would reorganize it to

 

1. Gas $50

2. Dinner $20

3. Movies $7

 

so now you have  THREE overdraft charges.  

 

This lead to a $410,000,000 class action lawsuit. but that's still less than 10% of the money they stole from clients.

 

http://www.huffingtonpost.com/2011/11/07/bank-of-america-overdraft_n_1079924.html


USAA did something like this to me once. Had a $950 rent check nearing clearing (I had the exact number of business days figured out). I log in in the morning and see that my rent has cleared and posted to my account and I have a balance. I make a couple of low-cost purchases (coffee, lunch) and come back and find ~$900 in my account. Why? Somehow, purchases from the previous week "hadn't cleared" yet, so I had overdrawn my account on the coffee + lunch.

 

Instead of refusing the coffee+lunch purchases or charging them to me with an overdraft fee, USAA overdrew them, charged me the fee, then bounced my check which had already cleared (fee) and posted to my account, causing me to be late on my rent (fee) plus a bounced check (fee) plus I was forced to pay my next month's rent with a money order (fee). The fact that I got a bank check (fee) sent directly to my apartment management (fee) before they even noticed the check had bounced is the reason why I don't have to pay with a money order every month from here on out.

 

I no longer pay for anything directly with my checking account, nor do I store all my money with any one bank.

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Why debit cards are subprime =)

[ Edited ]

kekrre wrote:
 

I no longer pay for anything directly with my checking account, nor do I store all my money with any one bank.


+1

 

Bank of America enrolled all their customers into "over draft protection" around 2006 where they take money from your savings and charge you $10 instead of $35 overdraft fee. Unfortunately they were so dumb they allowed someone to take 100% of my CHECKING and my SAVINGS through 20+ Transactions..... WITH overdraft protection. you would think they would limit it to 3 max...... or atleast call 

 

I had to call the fraud department and I had to pay my rent with a money order every month from then on, they don't care my account was hacked -_-;

 

Although I have too many accounts now, even with bank of america gone recently

 

USAA

Navy Federal   (these two are understandable)

Chase Bank (cause they know forgiveness more than any other banks)

Achieva CU (first bank to give me a secured credit card, declined for secured with BOA)

Digital CU (Free Fico scores =x)

 

I hate to let Achieva go since they're local and been good to me, but too much is too much =\ and their locations are VERY inconvient for me. I already have 3 CU i refuse to let go of that aren't local lol.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Valued Contributor
Dustink
Posts: 2,997
Registered: ‎10-02-2012
0

Re: Why debit cards are subprime =)


jsucool76 wrote:

Sparkz1920 wrote:

Dustink wrote:


Not true. Budget car rental did a HP in March this year. It was what got me to start taking my credit seriously and begin rebuild.

 

I got hard pulled by Verizon and Comcast over a year ago. Companies like this should be SPing people.


I work for Comcast and we do hard pull anytime certain services are purchased


Comcast I can understand HPing because they're giving you fairly expensive equipment for a LONG period of time. I'd be pissed if I got HPd for renting a car for 2 (expletive) days! I know a car is worth more, but it is for 2 (expletive) DAYS!!! OMG 


HPs should be used to show other lenders that you are seeking new credit. A reduced score indicating higher credit risk does not seem warranted because I needed cable service..haha

 

A SP seems logical.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k          $8.5K          Closed          $19k         $6.5k           $24.2k        Closed          $5k         Closed       $8.5k        Closed      @2.49%
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Why debit cards are subprime =)

+1 your buying a service not trying to attain new credit. Personally if I could just buy the equipment for a discount I'm fine by that. Also with Apartments they should just take a credit report from a reputable source instead of EVERYONE pulling your reports, or for car buying etc. should be so much easier.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Moderator
09Lexie
Posts: 26,260
Registered: ‎09-13-2012
0

Re: Why debit cards are subprime =)

Hertz did a HP on me this Jan for a weekend rental....boy was I pissed!


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
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}