Comments on: Using your debit card more than credit card these days?

By: ALLBANKSARECROOKS

ALLBANKSARECROOKS — Wed, 21 Oct 2009 17:11:23 +0000

I mostly used my debit card until I discovered that banks hold transactions longer than they should in order to collect NSF fees when they finally decide to push the debits through once they see your account is under a certain amount….like if I use my debit card for gas on Monday the charge won’t come out of my account until the following Monday if my funds are getting low at the time…it’s not fair and it’s not right. I know how the banking system works because I work in IT with transactional systems like the ones at all the major banks…believe me…IT DOES NOT TAKE THAT LONG FOR A BANK TO PROCESS A CHECK OR ANY TRANSACTION FOR THAT MATTER MOST DAY TO DAY TRANSACTIONS CAN BE FULLY PROCESSED WITHIN 24 hours of the transaction time..THEIR POLICIES ARE DESIGNED TO STEAL OUR MONEY….and that’s why BofA had to settle for these same type practices earlier this year….greedy b@stards….

By: Perkle

Perkle — Wed, 21 Oct 2009 16:48:40 +0000

I have always used my debit card. Have only had one problem in 11 years of using it and the bank fixed it within a couple of days. Do not use credit cards, its either cash or debit card.

By: Rich

Rich — Wed, 21 Oct 2009 15:30:52 +0000

Check with your bank, but in most cases if you sign for your debit card purchases (as opposed to entering your PIN), you get the same protection from Visa/MasterCard as traditional credit card users receive. I was double-billed on my Chase debit MasterCard, called Chase and the charge was reversed in less than eight hours. I only enter my PIN when I need to get cash back. Prepaid debit cards are a good idea, too. Most of them offer direct deposit and some of them (Wal-Mart, for example) have no transaction fees and a low monthly maintenance fee ($3). As with other debit cards, you get Visa protection when you sign for your purchases.

By: Baer Thompson

Baer Thompson — Wed, 21 Oct 2009 14:16:43 +0000

I have always used credit cards and will continue to do so. I also pay my balance in full at the end of the month. Debit cards make me uncomfortable because if someone unauthorized gains access they can drain my bank account. Even though I’d probably get all the money back, except $50, I’d be without funds until the situation was resolved and I really wonder how interested the bank would be in resolving the issue quickly.

By: Starring Peter Graves as Capt. Over

Starring Peter Graves as Capt. Over — Wed, 21 Oct 2009 00:18:14 +0000

Cut up the credit cards several months ago. Only use debit card. Working on paying off credit cards. If I can’t pay cash (or use a debit card) for something, I do without.

By: Julie

Julie — Tue, 20 Oct 2009 22:57:31 +0000

I just use cash its easier for me to stay on my budget. I don’t have any credit cards and have no interest in ever having them in my life.

By: Dan Winters

Dan Winters — Sun, 18 Oct 2009 22:55:17 +0000

What banks give a very good interest rate if you use their DEBIT CARD 10-12 times a month?
I read 4% above. Is there a web site that follows the interest rates and perhaps min and max deposit requirements?

Also, some banks can and do give the same theft protection to debit and credit cards – just check first.

thanks, dan at dancwinters@yahoo.com

By: neal kelley

neal kelley — Mon, 12 Oct 2009 17:48:03 +0000

I use a prepaid debit card also. I hate bank of Am*rica. They charge you a 35 dollar over draft fee when you are 50 cent over. That is crazy. So i now have my money go into a federally insured prepaid visa card. Free transactions.. and no more NSF fees…

By: Road Scholar

Road Scholar — Wed, 07 Oct 2009 14:35:51 +0000

While I use my credit cards for big purchases, I usually do not carry a balance. I use cash or my debit card since my bank pays me 4% interest on my checking account if I use my debit card at least 12 times a month and do an automatic bill pay!

By: Brian

Brian — Wed, 07 Oct 2009 12:24:49 +0000

Debit cards are still dangerous. They don’t offer the same protections as credit cards.