Why I Kissed My Debit Card Goodbye
So, a few weeks ago, after doing research for this article, I kissed my debit card goodbye. Well, sort of anyway. Technically there was no kiss, and I still have a debit card for cash withdrawal purposes (and trips to Costco, of course). But everywhere else I go, I am now officially a credit gal.
Now, I’m a bit of an anal credit gal because I know credit cards can get me into trouble. So I keep a ledger for my credit card purchases so I can account for them and make sure I actually have enough cash on hand to pay my bill in full when it comes each month. But that’s another story altogether. Although, having the ledger does make it easier to make sure there aren’t any fraudulent purchases made with my account number each month.
Why do I now firmly advocate credit over debit you might ask? Protection. If my debit card number is stolen and used and it takes me more than two days to notice it (and come on now, who checks their statements online every day?) then I could be liable for $500. If it takes me more than 60 days to notice, I could be held responsible for all of the charges.
But, with my credit card, I’m only liable for $50 as long as I catch and report the fraud within 90 days. Besides that, if someone stole $500 from my bank account the bank could take up to three months to return it to me. I could bounce checks and incur fees. It could be a real nightmare. But, with my credit card, no money ever comes out of my pocket.
So, I’m a firm believer now in being a once card gal—just call me Polly Plastic.
What about you? Debit? Credit? Or both? Let me know your thoughts and why.
Comments
Attempt to utilize the specialized credit cards for bad credit as you would for any normal one. It will aid in setting the right spending habits and assist in recovering from the bad debit report.
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I keep a ledger for my credit card purchases so I can account for them and make sure I actually have enough cash on hand to pay my bill in full when it comes each month.tax return software
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I was forced into getting a secured credit card after bankruptcy once I was coming off my chapter 7 filing. This was simply done to allow me to make online purchases, and to rebuild my credit over time. Unfortunately you can't rebuild your credit with just a debit card, so it is therefore prudent to weigh your options in regard to your own situation to figure out what might be your best option. I think credit cards and debit cards both have their place, and it is ultimately up to your financial circumstances and willingness to put up with certain kinds of risk when it comes time to make a decision.
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I would love to get rid of my debit card, unfortunately it's debit, check or credit and to me anyways, debit seems to be the lesser of three evils (i hate credit cards!).
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That's why stores today have preventive measures like asking for a valid ID when you use your credit card. civil rights lawyers
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I couldnt do better at a online casino, great writing Sarah. I really need to look over my credit cards, ant have a closer look into the agreements!
Why you kiss your credit card. I don't know. I think due to Currency rates.?
i agree to the post completely. one has to be really careful while using such stuffs.
Great article! This guide should be very helpful to a lot of people as they start their journey out of debt. This article is also applicable to a lot of other situations as well.
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Debit card is really prone to be stolen. If a person were able to know your pin they can easily widthdraw cash unlike w/ credit card. If there is suspicious activity happening into your account straightway your issuing bank will block the card. CreditCards
Great post. I've heard a lot of scams and misuse of debit and credit cards and that's the reason i never keep one.
Credit cards can be rough. I experienced this and it stunk really bad. I used it to create an Anime site and I maxed out my card. I had to actually do some Tax Relief stuff as well to get back on track.
Personally, none! I don't like credit cards because then you'd be totally dependent on it and you'll find yourself covered with credit. I don't like debit either because you can get carried away and pretty soon you'll find yourself with an empty bank account. 101 Money Matters
There is always some or the other issues with debit and credit cards. I agree with the article that one should avoid such scams by not keeping them.
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Most banks have 24/7 call centre services where you can call to block your card temporary. I should think that maybe you can also go down to the police station to report it lost first (so as to 'prove' that you had lost your card by then and any further.improve golf swing
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I love my debit card much more than carrying currency or stinking credit cards! I would never give it up :(
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Yeah that is the case Sarah. You have addresses beautifully the slick different between credit n debit card. Debit card not only pays you back in the form of cash return if it was used by some one else but also helps your remain in your budget. Where as credit cards can lead to go beyond your limits and if some one misuses it, then there is small return. I have not seen such mishap though paying all my bills whether they are of web design templates or if I have opted for virtual private server plan. Paying electricity or gas bills through credit card is something secure yet when you go for dinning or shopping than it needs much care. Thanks for addressing such an important issues of the time. reseller hosting ecommerce hosting
It is a complicated situation. One hand we need the credit card in cases of emergency when we have no money. On the other hand the risk of vulnerability to a credit card offers.
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I keep a ledger for my credit card purchases so I can account for them and make sure I actually have enough cash on hand to pay my bill in full when it comes each month. But that's another story altogether. Although, having the ledger does make it easier to make sure there aren't any fraudulent purchases made with my account number each month.
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I keep a ledger for my credit card purchases so I can account for them and make sure I actually have enough cash on hand to pay my bill in full when it comes each month. But that's another story altogether. Although, having the ledger does make it easier to make sure there aren't any fraudulent purchases made with my account number each month.
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