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Started By
Message
debit or credit
Posted on 11/30/12 at 7:48 am
Posted on 11/30/12 at 7:48 am
i know that this is a very easy question for you to answer so:
what is the advantage to using my debit as a "credit"? Or, is there one at all.
what is the advantage to using my debit as a "credit"? Or, is there one at all.
8
Posted on 11/30/12 at 8:00 am to tigerdup07
Debit is lower fees for the merchant
That's the main thing I can think of
That's the main thing I can think of
Posted on 11/30/12 at 8:09 am to tigerdup07
credit gets you more reward points
Posted on 11/30/12 at 8:20 am to tigerdup07
Credit offers more protection to the consumer.
Debit is only for those who cannot control or get credit.
Debit is only for those who cannot control or get credit.
Posted on 11/30/12 at 8:28 am to tigerdup07
Debit is you personally guaranteeing payment to merchant while credit is a third party guaranteeing payment to merchant. If you have adequate funds in the account then the transactions should be handled the same since the institution issuing credit on your behalf has means for instantaneous repayment. It is only when you have inadequate funds when it should make a difference. What are the fees for overdraft protection versus the interest cost on borrowing, and what are the limits of each?
Posted on 11/30/12 at 8:38 am to PhillyTide
quote:
Debit is only for those who cannot control or get credit.
That wasn't his question. His question was whether he should choose debit or credit when using his debit card for a transaction.
To the OP. I choose credit because I like to skip the PIN step. When debit cards were newer and this option came out I always chose credit because I was told that the transaction fees went on the seller if you chose credit. I cannot confirm this information as true but I got in the habit of choosing the credit option and still do to this day.
Posted on 11/30/12 at 8:40 am to yellowfin
quote:
credit gets you more reward points
This.
Posted on 11/30/12 at 9:41 am to notiger1997
I always chose credit now b/c of all the horror stories of people using their debit cards and getting ripped off. Credit offers much greater protection and if someone gets a hold of your credit card # somehow, they don't have access to your bank accounts.
Posted on 11/30/12 at 10:05 am to VABuckeye
quote:
That wasn't his question. His question was whether he should choose debit or credit when using his debit card for a transaction.
Read it again. My answer is to only use debit if you cannot control or get credit. For a consumer, there is no advantage to debit.
Posted on 11/30/12 at 10:13 am to tigerdup07
Since the original question has been answered....
You shoudln't use your debit card to pay for anything.
GET. POINTS.
You shoudln't use your debit card to pay for anything.
GET. POINTS.
Posted on 11/30/12 at 10:45 am to tigerdup07
I pretty much only use debit now at SAMs because I don't have MC or discover
Posted on 11/30/12 at 10:47 am to TheHiddenFlask
quote:
You shoudln't use your debit card to pay for anything.
Not only do you get rewards.... but you aren't liable for the fraudulent charges on a credit card
This post was edited on 11/30/12 at 10:48 am
Posted on 11/30/12 at 11:02 am to Croacka
quote:
SAMs
why does the iphone auto correct sams to this?
Posted on 11/30/12 at 12:30 pm to bryso
Am I not the only one?
I thought it was something I did that caused it, like purposely typing it like that once or something
I thought it was something I did that caused it, like purposely typing it like that once or something
Posted on 11/30/12 at 1:16 pm to tigerdup07
If you need cash back debit.
If you want protection then credit. If you belong to a CU that gives you like 3.5% rate on checking account then use debit to the point that you hit your requirement then credit.
If you want protection then credit. If you belong to a CU that gives you like 3.5% rate on checking account then use debit to the point that you hit your requirement then credit.
Posted on 11/30/12 at 1:22 pm to Catman88
I use my Capital One Rewards debit card but run it through as credit. Same rewards as my venture card but it comes right out of my checking account.
Posted on 11/30/12 at 1:44 pm to BACONisMEATcandy
quote:
. but you aren't liable for the fraudulent charges on a credit card
you aren't liable for fraud with debit either
Posted on 11/30/12 at 1:48 pm to yellowfin
quote:quote:
but you aren't liable for the fraudulent charges on a credit card
you aren't liable for fraud with debit either
I worded that poorly.... They take the money out of your bank acct with debit
Posted on 11/30/12 at 1:52 pm to BACONisMEATcandy
I know Capital One will put the money back in your account while they investigate, that's what they did when I had to dispute a strip club charge
Posted on 11/30/12 at 1:56 pm to PhillyTide
quote:
Debit is only for those who cannot control or get credit.
I guess my wife and I are the only two exceptions to this "rule."
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