why do YOU use credit?

[Anonymous]

None of those reward structures are competitive and in my area some places charge a dollar more for debit transactions than they do for cash or credit.

As others have said getting your money back is a pain multiple trips to the bank signing forms verifying ID etc. Not to mention if a debit card is lost or stolen I have to get cash or go into a bank for at least a week (because no financial institution has ever offered to overnight me a debit card free of charge). The only possible reason I can see is as others have said some people lack self control and will spend recklessly with a credit card but not with a debit card.

I personally have never seen this, the people I know who are reckless spenders just incur overdraft and NSF fees and have never been able to get credit due to poor money management.

[SantaMar]

I'm the OP. I find it extremely interesting as to how people use their funds. I'm a debit card guy because I'm a huge fan of knowing exactly what is available in my bank account. To some people concerned about having theft issues, when you expose you CC you are exposing an entire CL as to when you expose your debit card you only are at risk for the available funds. I rarely have a large balance in my checking account. After my mortgage and bills and expenses I run my checking account to a couple hundred dollar balance. I use my credit card for large purchases that are a necessity. Fixing my heater a massive car repair.

[Anonymous]

I like some of the spend incentives like on my NYandCo card and Old Navy/Gap...I shop there alot so it benefits me to have the card.

I also like the ability to pay over time if i would like. If i want to shop and i want something, i can pay it over time

Rebuidling as ive done pretty good at...just racks on racks on inquiries lol

I like the prestige that comes with flashing my Discover and my AMEX

and also, I would like to purchase a home...

[Anonymous]

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@Anonymous wrote:

The only reason why I would see anybody using a debit card is:

1. They're in chexsystem and can only get a prepaid debit card

2. They can't get a credit card because they can't open a bank account

I speak from past experience. 

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You'd be surprised at how many ppl say they dont want to get into debt...as if a credit card can make you go into debt

i tell them...so how is a bank/cu supposed to trust u with buying a house if they cant even see that you pay your bills on time and that lenders trust you with large limits.

Ppl make credit harder than what it is...Charge and swipe...pay off. simple...

[kevinjjc]

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@SantaMar wrote:
I'm the OP. I find it extremely interesting as to how people use their funds. I'm a debit card guy because I'm a huge fan of knowing exactly what is available in my bank account. To some people concerned about having theft issues, when you expose you CC you are exposing an entire CL as to when you expose your debit card you only are at risk for the available funds. I rarely have a large balance in my checking account. After my mortgage and bills and expenses I run my checking account to a couple hundred dollar balance. I use my credit card for large purchases that are a necessity. Fixing my heater a massive car repair.

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It may be somewhat inconvenient, but a way to achieve this while using credit cards instead of debit cards is to have a second checking account (preferably with the same bank/CU). After spending, just transfer the money. This will give you a better picture of what is available in your bank accounts.

[LS2982]

Surprised no NSF fees have not came up, banks are good with this.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

The only reason why I would see anybody using a debit card is:

1. They're in chexsystem and can only get a prepaid debit card

2. They can't get a credit card because they can't open a bank account

I speak from past experience. 

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You'd be surprised at how many ppl say they dont want to get into debt...as if a credit card can make you go into debt

i tell them...so how is a bank/cu supposed to trust u with buying a house if they cant even see that you pay your bills on time and that lenders trust you with large limits.

Ppl make credit harder than what it is...Charge and swipe...pay off. simple...

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You know what they say......guns don't kill, people do. Most people just can't admit it and find others to blame on.

[Anonymous]

I use debit card for amounts less than $5 mainly because my debit card requires minimum transactions in a month.

Any other transaction especially big ticket item is through credit card.

Paying full balance is a must if earning reward is a primary criteria for increasing income.

I added to my income by about $ 8000 gross income in little over 4 years which includes promotional bonus from new cards.

With little strategy by enforcing discipline on which card to use when, credit card reward can be a good hobby income.

[Anonymous]

RewardsRewards! Hoping to earn my first free flight this year! 

[HiLine]

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@Anonymous wrote:

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You know what they say......guns don't kill, people do. Most people just can't admit it and find others to blame on.

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Such people should not use guns. I see where the people who can't treat their credit cards like debit cards are coming from.