why do YOU use credit?

[kekrre]

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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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Presuming you have equal protection in both cases (i.e. from somebody making fraudulent charges with either a lost of stolen account, not vendor fraud, chargebacks, etc.), you'd rather have your money taken out of your account and have to fight to get it back (and perhaps pay overdraft fees, late fees, returned item fees, etc.), rather than have a credit card frozen for a bit and somebody else's money stolen?

I hate putting large purchases (e.g. car repair, which I did over Thanksgiving) on my CC unless I know I can pay it off within the grace period, but I put 100% of my everyday spending on credit. I know I can afford my everyday spending; that's why it happens every day. OTOH, I hate it when I have to answer "credit or debit" at the supermarket or get told "swipe your credit caaaad", especially if I'm not paying with a "premium" card. These transient feelings of embarassment are tempered when I calculate my rebate.

[Anonymous]

I agree with KevinJJC....I'm on my IPhone so I can't quote him

But I use my AAdvantage Amex with Citi the most because I just transfer the funds right on over. Simple. I like my Delta and Discoveroee but the. I have to put the money to pay that in my savings so I don't overspend

[Anonymous]

I knew that cash back debit cards existed but I have never seen the programs for one. Seeing the ones you posted it looks more like a perk for those who can't get a rewards CC. 10 cents cash back per swipes would not even cover the 49 cents swipe fee average for debit card in my area. I did not look at the rate the bank gave on the money in the account it must be higher then the major banks I am sure. I have had wamu, chase, bank of America, wells Fargo and a local CU. The local CU took 6 days to return about 750 that was swiped in a store in the EU. Bank of America took 37 days to return 27,585.96.. I am sure each case is different depending on how the money was taken and amount will have a different return time. The 750 was a CC swipe the 27K was CASHED checks, someone had taken my credit application from my office was buying a car I never even gave it a second thought until the fraud happened .  They changed almost all the info on my BOA account in a matter of hours in less then a week  ordered checks wrote them out and paying 200 to get people walking into branches to cash them. The worst part about it was an older lady in her 60's was caught at my local branch trying to cash one and one of the tellers who knew me and my account called me. The bank ended up pressing charges on the older women and never found the real crooks. 

That being said I use CC EVERY time or the CASH I have on hand. Rewards grater then the debt cash back ... No swipe fee.. extended coverage on purchases. the only reasons i can think of where you might use debt over CC ... cant get one you,maxed it out or its a no CC kinda place.. on top of all those i need to keep buliding my credit with CC so one day i can buy a home... is that not why CC were made to buy sometime you dont have the cash on had to pay for ? pay over time the new cash..

[Anonymous]

My dad didn't get money back from BOA for months....thieves

[Anonymous]

Show of hands:  How many ppl are aware that debit cards have a CREDIT (or debit) option?

Silly rabbit, tricks are for kids.

If you have a DEBIT card WHY tell me WHY (WHHHHHYYYYYYYYYY!!!!!) would you use the "debit" → AKA ENTER PIN  ← transaction if you are going to be assessed a fee?

Sounds idiotic.  Or, perhaps this thread as just morphed into a bash debit cards thread so lies are rampant.

My non CB debit cards and my CB debit cards don't (I repeat DON"T) have a fee associated with swiping if I use the CREDIT option.

So for all the ppl on this thread who are saying that if they use a debit card, and the cash back rewards from using said debit card don't cover the transaction fee for using said debit card, why would you use "debit" and not CREDIT transaction??  DUH!

[kevinjjc]

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@Anonymous wrote:

Show of hands:  How many ppl are aware that debit cards have a CREDIT (or debit) option?

Silly rabbit, tricks are for kids.

If you have a DEBIT card WHY tell me WHY (WHHHHHYYYYYYYYYY!!!!!) would you use the "debit" → AKA ENTER PIN  ← transaction if you are going to be assessed a fee?

Sounds idiotic.  Or, perhaps this thread as just morphed into a bash debit cards thread so lies are rampant.

My non CB debit cards and my CB debit cards don't (I repeat DON"T) have a fee associated with swiping if I use the CREDIT option.

So for all the ppl on this thread who are saying that if they use a debit card, and the cash back rewards from using said debit card don't cover the transaction fee for using said debit card, why would you use "debit" and not CREDIT transaction??  DUH!

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Ok, just keep on using your debit card. Let's see how you do in the future if you are in a situation of needing credit.

[cashnocredit]

At Costco you have a choice of using a debit card (PIN required) or Amex CC. A debit card swipe ("credit" mode) isn't allowed.

[aplast]

I enjoy the rewards. I made over 100 bucks last month alone on purchases that I was already going to make. Someone also mentioned cash flow. This is great because when I PIF im not worried about when my paydays fall - So I never have to dip into savings to pay regular bills. I also find that charging most of my purchases allows me to get those nice CLI's we all love so much. I can also keep track of where my budget stands as opposed to checking bank statments for debit purchases and then having to look at CC statements as well. So Ease, Rewards, and cash flow for me!

[Anonymous]

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@kevinjjc wrote:

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Ok, just keep on using your debit card. Let's see how you do in the future if you are in a situation of needing credit.

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Actually, you are putting words in my mouth.  Just like your comment here:  

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@HiLine wrote:

Is there even one advantage of using a debit card?

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kevinjjc wrote:

I'm sure ccnewcc will tell you!!  

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But I just choose to ignore your comment.

I am neither pro debit card nor anti credit card.  And I have never said so.  Not sure why you are putting words in my mouth other than to cause trouble.

My only comments on here have been to clear up LIES.  

1) Bank accounts offer ID theft protection

2) Cash Back Debit Cards exist.

[pdog661]

v

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@Anonymous wrote:

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@Hilling wrote:

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@Anonymous wrote:

Oh okay.

Some Pl really hold on to the fact bank accounts are evil and CSS are the savior.  Oh okay.  

Well then why do you even have a bank account?  Why not a prepaid card like bluebird or Ames prepaid??  Huh?

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Please tell me you're not serious. How long have people been using bank accounts? And how long have those Ames products been in existence? Are you able to withdraw more than a few thousand per month from a Bluebird account? Are you able to withdraw cash from an ATM without a fee? Is Bluebird or Ames prepaid accepted everywhere? Is the money in these accounts insured by the FIDE?

Aren't you the same person that was trying to convince me that utilization ratio doesn't matter in my credit profile?

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Oh FIDC.  I see.  Now we're back to protection.  I knew the illogic would come full circle.

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Protection is the reason number 1!

A theft of your credit card is much less painful then the theft of your banking account.  Trust a person going that has been through both. 

Credit Card resolution:

"thank you for calling XXxX how can I help." 

My credit card has been compromised and I see charges that I did not make.

"let's review your charges, and let me know which ones are not accurate."

charge x, y, and z.

"thank you. I will credit these back to your account and open a dispute. I have closed the account and issued you a new card."

Done!

Bank Account:

"thank you for calling xxxx how can I help you."

My account has been comprised, and my mortgage, car payment, and all of my credit card payments have been declined.  I have been charge overdraft fee's and 3 return check fees  In addition to these I have been charged 250.00 in fees from my creditors due to this theft.

"I am sorry to hear this, I will help you review the disputed charges, but I can not do anything about the fees that you have been charged.  You current account balance has been reduced from 10K to negative 1,200.00.  Is this correct?"

This is just the beginning!

If the above stories do not make you solely use credit here is another reason:

Cash Back:

I have the BCP - 6% back on groceries.

If I buy 100 dollars worth of groceries from the store I pay 100 dollars with my debit card.

If I buy 100 dollars worth of groceries from the store I pay 94 dollars with my BCP card.

I would be crazy to use my debit cards as I am literally over paying for groceries.