topic Re: Do you ever pay for anything with your debit card? in Personal Finance

Do you ever pay for anything with your debit card?

Taoron — Mon, 25 May 2015 04:42:41 GMT

I have heard that it's unwise to pay for stuff with your debit card. Up until this, I would use my debit card for everything. I don't carry any debt, except for on my secured card which I pay off every month. It's only $400 and manageable.

So my question is, what are the opinions of the people here on the use of debit cards?

Re: Do you ever pay for anything with your debit card?

Kenny — Mon, 25 May 2015 04:44:30 GMT

Nope. lol

Re: Do you ever pay for anything with your debit card?

Creditwiser — Mon, 25 May 2015 04:49:21 GMT

I use it at an ATM to withdraw cash from checking. Otherwise Its very rare for me to use my debit card.. With several reward cards in my wallet, why would I ?

Re: Do you ever pay for anything with your debit card?

Anonymous — Mon, 25 May 2015 04:56:47 GMT

Hardly ever use my debit card now that I have my CC. Also, Being that my CC is only has a $200 limit. I would feel safer if it were to be compromised because I would only rack up a maximum of $200 in charges. whereas in the event my debit card is stolen, they could clean me out.

Re: Do you ever pay for anything with your debit card?

vanillabean — Mon, 25 May 2015 05:09:51 GMT

I like the protection, the perks and the rewards of credit cards, but wouldn't mind if transactions were paid for in real time.

Re: Do you ever pay for anything with your debit card?

Revelate — Mon, 25 May 2015 06:12:00 GMT

@Taoron wrote:
I have heard that it's unwise to pay for stuff with your debit card. Up until this, I would use my debit card for everything. I don't carry any debt, except for on my secured card which I pay off every month. It's only $400 and manageable.

So my question is, what are the opinions of the people here on the use of debit cards?

I wore the numbers of a few debit cards (some, I mean this quite literally) until roughly my registration date on the forums.

I have since not used a debit card even once. The vast majority of people on this forum likely are similar, so many reasons to use a credit card, and incredibly few, if any, not to if one simply treats credit cards like a debit card or at worst case short-term float. Long term debt on a credit card almost never makes any sense unless financially strapped or on a 0% promotional APR deal.

Re: Do you ever pay for anything with your debit card?

DaveInAZ — Mon, 25 May 2015 13:22:18 GMT

I don't even carry my ATM/Debit card in my wallet, it's rare that I need cash from an ATM and I never charge on a debit card, wny would I? 1.5-2% rewards on credit, zero fraud liability, and at least a month to PIF with no cost. Debit is just a scheme by Via/MC to get their cut of what would be a cash transaction.

Re: Do you ever pay for anything with your debit card?

Anonymous — Mon, 25 May 2015 15:22:20 GMT

@Kenny wrote:
Nope. lol

You could take your Debit Card to the nursery and buy a "seedling"

Re: Do you ever pay for anything with your debit card?

Anonymous — Tue, 26 May 2015 00:12:02 GMT

Until April, I always used my debit card for all purchases. Then I started reading myFICO and realized I could be taking advantage of rewards instead of paying for it right away. I don't carry balances over, so for me, it's working out great. I've already got $200 in bonuses for new cards.

Re: Do you ever pay for anything with your debit card?

barbaralee — Tue, 26 May 2015 01:13:49 GMT

ATM and anything that would be considered a cash advance (which is very rare). My hubby has never consistently used a debit card. When he turned 18 his mom applied for a Capital One card for him, and his brother told him to use it to build his credit. The rest is history.

Re: Do you ever pay for anything with your debit card?

Revelate — Tue, 26 May 2015 01:37:29 GMT

@barbaralee wrote:
ATM and anything that would be considered a cash advance (which is very rare). My hubby has never consistently used a debit card. When he turned 18 his mom applied for a Capital One card for him, and his brother told him to use it to build his credit. The rest is history.

Hah wish my mom the accountant had done that for me, life might not have been better but it would've been different.

Re: Do you ever pay for anything with your debit card?

Anonymous — Tue, 26 May 2015 01:40:54 GMT

Not sure if this would be the place to ask, but it seems like a good thread just to pop a question in.

Just recently securing my first two cc's($200 Secured Cap1, and a $500 secured card from my bank), would it be safe to retire my debit card and use my credit cards. Then just PIF every month?

Up until this point I've used my debit card to pay for everything.

Re: Do you ever pay for anything with your debit card?

Revelate — Tue, 26 May 2015 03:43:37 GMT

@Anonymous wrote:
Not sure if this would be the place to ask, but it seems like a good thread just to pop a question in.

Just recently securing my first two cc's($200 Secured Cap1, and a $500 secured card from my bank), would it be safe to retire my debit card and use my credit cards. Then just PIF every month?

Up until this point I've used my debit card to pay for everything.

Yup! ASAP in my opinion.

The usual risk people mention is people start treating credit cards as free money; however, if you have the discipline just to PIF every month, there's much upside to using credit cards over debit ones and zero downside. Excellent start as well!

Re: Do you ever pay for anything with your debit card?

victor7 — Thu, 28 May 2015 08:08:00 GMT

Overall, it seems most people here would recommend never using a debit card for routine purchases. I agree; a credit card is better. Forget the rewards, the fraud protection alone makes it a better choice. You are not liable for credti card fraud in the US. In some cases, you may be liable for some debit card fraud. Regardless, the money has already been removed (stolen) directly from your account.

However, to the OP's question: there is a case where I do sometimes use my debit cards for purchases: in Europe. I typically use my European Chip-and-PIN cards there, but debit cards work equally well, and I occasionally use them. (And the fraud liability works a bit differently there.)

Re: Do you ever pay for anything with your debit card?

Anonymous — Thu, 28 May 2015 08:13:33 GMT

I use it at the atm when the bank is closed to deposit checks/cash. Getting a bit dusty.

Re: Do you ever pay for anything with your debit card?

Revelate — Thu, 28 May 2015 16:50:02 GMT

@Anonymous wrote:
I use it at the atm when the bank is closed to deposit checks/cash. Getting a bit dusty.

There's probably an app for that .

The cash bit, yeah I just for whatever reason have never deposited cash via ATM which is a personal problem I'm sure.

Re: Do you ever pay for anything with your debit card?

Anonymous — Thu, 28 May 2015 19:50:56 GMT

Yeah, have it but it always gives me some sort of a problem. One customer, in particular, writes like a chicken. And she owns over 80 rental homes. So we get alot of biz from her. But the bank can't read her checks.

Re: Do you ever pay for anything with your debit card?

Callandra — Thu, 28 May 2015 20:16:31 GMT

@Anonymous wrote:
Yeah, have it but it always gives me some sort of a problem. One customer, in particular, writes like a chicken. And she owns over 80 rental homes. So we get alot of biz from her. But the bank can't read her checks.

Don't know what bank you use, but I run into the same thing when my Dad writes me a check. The app just can't read it (however, it has no problem with my Mom's handwriting!); the mobile deposit app is perfect for printed checks (ie- a paycheck) though.

Re: Do you ever pay for anything with your debit card?

securingourfuture — Thu, 28 May 2015 20:27:48 GMT

@Taoron wrote:
I have heard that it's unwise to pay for stuff with your debit card. Up until this, I would use my debit card for everything. I don't carry any debt, except for on my secured card which I pay off every month. It's only $400 and manageable.

So my question is, what are the opinions of the people here on the use of debit cards?

It's funny you asked this. I was wondering just today "why am I using my debit card for this when I could be getting rewards"? I guess I will hang mine up and go to a life of carrying a hot $20 and a cc.

Re: Do you ever pay for anything with your debit card?

Anonymous — Fri, 29 May 2015 03:30:33 GMT

I use it once a quarter maybe when I go to Aldi, otherwise I can't remember the last time I used a debit card.......

I do use it to make ATM cash deposits, so I have to carry it.