I just get cash with mine. Then, I pay that way for nearly everything, except bills for which I send a check.

 

I make 95 - 98% of all purchases with a credit card - everything from groceries to gas. I get hotel points and cash back, depending on which card I use. I have NEVER paid interest as I pay off my bill in full each month. The statements give me a good record of how I spend my money and about twice yearly I get to take a short vacation (2-3 days) with the hotel paid for by my points (just came back from New Orleans - hotel and flight on points!) and have a 3 day trip to Memphis scheduled in March.) I bought my Ranger with a credit card just to get the points and then paid it in full 25 days later!

While I have a debit card, I only use it for cash at the ATM. I even pay my utility and cable bills with a credit card. I write 1-2 checks per month for bills not set up to take credit cards.

 

Debit all the time, I don't carry cash. If I do need cash, I get cash back with my debit card. I Ebay with my credit card since I think it's more secure. Use checks for bills.

 

Mine is a Visa debit and it is just as guaranteed as my credit cards.

It wouldn't rule out on line fraud but It seems I have to show an ID everytime I use a card anymore.

Mike

 

The difference is that because of the recent law change banks can instantly withdraw funds from your account when you write a check or use debit. All the debit cards I've seen have the Visa logo, but they don't work exactly the same as credit. With credit they are loaning you money till the billing date, with debit they are taking right out of your account. When the credit card co. see strange purchases, like 25 $15 sales at4AM at the Circle K within 2 hours, they freeze the account. You personally haven't been given any money and are protected by federal law, not out of the goodness of Visa's heart. Visa was acting out of good faith, so they are covered - the store takes the loss. You fill out an affidavid and life goes on. With debit, the money comes right out of your account.

Now the debit has many of the same checks as Visa, however, the thieves are getting smarter. They know to hit the smaller businesses that don't have intelligent procedures like the big corporate stores, (when they ask for ID try this - smile and wink, then say, "Oh, come on, it's good!" This worked over a dozen times for the guy that ripped me off.) They keep the dollar amounts high, but not too high - around $600 - $1200. This is not a huge amount anymore by todays standards, maybe a 5KW generator, a good fish finder, stereo, ect., but more important - they know the police don't pay much attention to thefts under a certain dollar amount. The bigger police agencies are slow and a lot of times don't put two and two together. Reports under that certain dollar amount go inactive as soon as the report is taken. So the theives bebop down a stripmall area spending $600 - $1200 at each store, (kind of like Xmas shopping this time of year..), and when the stores fill out the theft reports, it doesn't raise any redflags, because it looks like a bunch of puny $1000 thefts that go in the inactive file, not a $35,000 days take for some dirtbag.

With your debit, they will use it till the money is gone and you might not know till the checks bounce and you won't get your money back until this problem is cleared up. It might take days to fix. How would the bank know that my wife didn't buy a bunch of stuff without my knowledge? It's my money that's gone, not theirs, so they will look into it.

I can use my ATM anywhere they have a keypad and I'm covered with credit, because it's not my money I'm spending.

 

My debit cards have some daily spending limit 1200 a day I think, so it seems safe enough to me, your non liable for fraudulent purchases.

 

Ummm...Kind of non-liable. Once you report the theft you aren't liable for purchases made from that point on.

If you report the card stolen, (or someone got a duplicate card as you), before any purchases are made, you aren't liable.

If it's reported in less than two business days, then you could be liable for $50 - over 2 days it goes to $500. If you're one of these people that never opens the mail, have a fortune in checking and you wait over 60 days, (two statement periods), you're liable for the whole thing. That's Federal.

 

That seems fair. Anyone that pays any attention to their money would notice 1200/day vanishing. Im not arguing anyone should use a DC vs a CC, they both suit me.
CHecks are my pet peeve, some people wont use a DC for fear of some type of fraud yet they will gladly hand over a check with their name, adderess, account#, routing#, etc all printed RIGHT ON THE CHECK. That makes no sense. I really love it at the grocery store when the person in front of me waits until the person asks for the money and THEN gets out a checkbook..

 

Yep, there's fairly decent laws to protect you, if you stay on top of things. The guy that took my stuff went to a bank I've never been to, asked for a bunch of counter checks and wrote my name and address on them. It's been almost two years since my wallet was stolen, (good place to keep your ID, right next to the CC and DC), and I still have problems pop up. One of the guys got caught, (there's three), and is waiting sentencing.