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More Americans are giving up on debit cards, new survey reports

Civil
Regular Contributor

Re: More Americans are giving up on debit cards, new survey reports

I never thought about it like that and it does make sense. In my case I would not want to max out my card to it's limit unless I have like a 10k card and put 2k in bills to pay off every month 







Message 11 of 36
morgacj2004
Valued Contributor

Re: More Americans are giving up on debit cards, new survey reports

I never use my debit card except to deposit money into the ATM or take money out.   Nada Nada Nada. !!


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Message 12 of 36
MakingProgress
Senior Contributor

Re: More Americans are giving up on debit cards, new survey reports

My DD debit card got hacked this week.   They cleaned out her account all $25 of it at a Pizza Hut in the next state.

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Message 13 of 36
arkane
Established Contributor

Re: More Americans are giving up on debit cards, new survey reports


@MakingProgress wrote:

My DD debit card got hacked this week.   They cleaned out her account all $25 of it at a Pizza Hut in the next state.


Sorry to hear that. Smiley Sad

 

My Chase debit card was compromised last week as well. Thankfully I set my fraud alert low enough ($20) that I killed the card before extensive damage was done. Those sons of bitches still managed to get away with $43.35 though. Smiley Mad

 

Chase reimbursed me after a few phone calls, but I'm more upset at not being able to stop them faster lol. Shoulda known to set my fraud alert to $0.01 since I NEVER use my debit card (credit or cash only). Well it's a good wakeup call, I cancelled all but one of my debit cards and requested ATM cards if they were available (and just told the banks to not send me anything if they didn't). The one BoA debit card I still have, I set the purchase limit to $1. Good luck hacking that card MFers! I pity the idiot who spends his time trying to hack that card only to realize he just wasted however many hours of his pathetic life. Smiley Happy

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6/8/20:

Message 14 of 36
OmarR
Established Contributor

Re: More Americans are giving up on debit cards, new survey reports

Honest question:

 

Why are you guys using your debit card over a credit card?

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Message 15 of 36
DaveInAZ
Senior Contributor

Re: More Americans are giving up on debit cards, new survey reports


@morgacj2004 wrote:

I never use my debit card except to deposit money into the ATM or take money out.   Nada Nada Nada. !!


I never use ATMs, if I need cash Discover card lets me take up $60 cash back at Walmart and any grocery store and my Walmart card lets me get up to $100 cash back, and since I'm there making a purchase I don't have to out of my way to an ATM.

 

The only thing I use a debit card for is to move money instantly between bank accounts with Google Pay.

 

Debit cards were invented by banks so they could earn fees they weren't getting with checks.

Message 16 of 36
Anonymous
Not applicable

Re: More Americans are giving up on debit cards, new survey reports


@DaveInAZ wrote:

 Debit cards were invented by banks so they could earn fees they weren't getting with checks.


And here I though it was meant for security and faster checkout times. lol

Message 17 of 36
arkane
Established Contributor

Re: More Americans are giving up on debit cards, new survey reports


@Anonymous wrote:

@DaveInAZ wrote:

 Debit cards were invented by banks so they could earn fees they weren't getting with checks.


And here I though it was meant for security and faster checkout times. lol


That's what the banks want you to think lol.

 

After the (hopefully) only debit card hack I experienced last week, I'm completely done with debit cards. No rewards and less protection than credit cards, plus direct access to my actual money is just too much of a security risk. Chase and Citi offered me ATM cards, while BoA allowed me to set my debit limit to $1 so I can live with that. Really in 2018 there's just zero reason to use a debit card.

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6/8/20:

Message 18 of 36
OmarR
Established Contributor

Re: More Americans are giving up on debit cards, new survey reports


@arkane wrote:

@Anonymous wrote:

@DaveInAZ wrote:

 Debit cards were invented by banks so they could earn fees they weren't getting with checks.


And here I though it was meant for security and faster checkout times. lol


That's what the banks want you to think lol.

 

After the (hopefully) only debit card hack I experienced last week, I'm completely done with debit cards. No rewards and less protection than credit cards, plus direct access to my actual money is just too much of a security risk. Chase and Citi offered me ATM cards, while BoA allowed me to set my debit limit to $1 so I can live with that. Really in 2018 there's just zero reason to use a debit card.


I mainly bank with USAA and all their checking accounts are "no-fee". So I opened up another checking account which I call my "Play" account. It only has $100 in it, and this is the debit card I carry for that once-a-while occurrence that I need to withdraw cash. I can swipe $$$ over from my main account from the phone app, but there is no overdraft setup.

 

I also carry a crisp $100 bill & a $20 bill in my wallet. The cash actually comes in handy more than the debit card does (valet, cash-only toll booth, etc), but sometimes I want to ditch all 3 since they collect dust more than anything else.

 

Thank you for stepping away from your debit card.

 

Smiley Happy

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Message 19 of 36
arkane
Established Contributor

Re: More Americans are giving up on debit cards, new survey reports

Yep I actually can't think of a situation right now where credit+cash wouldn't be able to cover your needs, and you *had to* somehow use a debit card instead.

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6/8/20:

Message 20 of 36
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