debit or credit | TigerDroppings.com
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tigerdup07
LA-Lafayette Fan
Member since Dec 2007
18532 posts

debit or credit

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.




Croacka
UNLV Fan
Denham Springs
Member since Dec 2008
54056 posts

re: debit or credit
Debit is lower fees for the merchant


That's the main thing I can think of


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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
74620 posts
Online

re: debit or credit
credit gets you more reward points


PhillyTide
Alabama Fan
The One Who Knocks
Member since Oct 2011
226 posts

re: debit or credit
Credit offers more protection to the consumer.

Debit is only for those who cannot control or get credit.


Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
16525 posts

re: debit or credit
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?


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VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
12668 posts
Online

re: debit or credit
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.


notiger1997
Member since May 2009
24943 posts

re: debit or credit
quote:

credit gets you more reward points


This.


nikki6
New Orleans Saints Fan
Dallas
Member since Jul 2011
1790 posts

re: debit or credit
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.


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PhillyTide
Alabama Fan
The One Who Knocks
Member since Oct 2011
226 posts

re: debit or credit
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.


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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
17269 posts

re: debit or credit
Since the original question has been answered....

You shoudln't use your debit card to pay for anything.

GET. POINTS.


Croacka
UNLV Fan
Denham Springs
Member since Dec 2008
54056 posts

re: debit or credit
I pretty much only use debit now at SAMs because I don't have MC or discover


BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
42508 posts

re: debit or credit
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 at 10:48 am


bryso
Clemson Fan
The Real Death Valley
Member since Dec 2006
27094 posts

re: debit or credit
quote:

SAMs


why does the iphone auto correct sams to this?


Croacka
UNLV Fan
Denham Springs
Member since Dec 2008
54056 posts

re: debit or credit
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


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Catman88
LSU Fan
Baton Rouge, LA
Member since Dec 2004
40842 posts

re: debit or credit
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.


onelochevy
LSU Fan
Slidell, LA
Member since Jan 2011
6894 posts

re: debit or credit
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.


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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
74620 posts
Online

re: debit or credit
quote:

. but you aren't liable for the fraudulent charges on a credit card


you aren't liable for fraud with debit either


BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
42508 posts

re: debit or credit
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


yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
74620 posts
Online

re: debit or credit
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


Will Cover
Oklahoma State Fan
Bug Tussle, OK
Member since Mar 2007
25668 posts

re: debit or credit
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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