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You have 3 types of "credit" cards....question

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posted on Oct, 15 2008 @ 06:05 PM
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You're in a store.

You buy $500 worth of stuff.

You have
1) Debit Card
2) Check Card
3) Credit Card

What should I use to pay off the bill, and why?


This is a real question...

Right now I make all my purchases with my check card, it's convenient, and I don't have to "write" a bill for it at the end of the month...

Now my question is this, is it any...
A) safer
b) better
to use any one card over another card? out of the 3 cards?




posted on Oct, 15 2008 @ 06:07 PM
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It's safer to use a credit card because the money is insured if you it gets hijacked. The only thing its NOT safer if you don't pay it off within a month



posted on Oct, 15 2008 @ 06:10 PM
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Debit card. The money comes out and you owe no one anything. My bank will take the loss if anyone uses my debit card so its safer for me.



posted on Oct, 15 2008 @ 06:20 PM
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FYI

Check Card=Debit Card

I managed a bank for 5 years....

As for which is safer, the above poster is correct in saying that Credit Cards generally have better fraud protection. With that being said, talk to your bank to see what the specific policy is when dealing with debit/credit fraud.

Also, if someone steals your credit card you only lose the available credit they used not actually money out of your bank account. I have seen many many people go through rough times when their debit/check card is compromised due to it being actual money that was stolen. Rent and certain other things typically cannot be paid with a Credit Card. If you are living paycheck to paycheck like many are if someone takes your actual money out of your bank account it can get nasty due to the fact it can take a few days for the money to get put back in. That is assuming the bank accepts your fraud claim....

Lastly, the rewards on credit cards are typically much better than debit/check card rewards. This is assuming you pay it off in full every month.

Hope this helps

Regards,


3 edits haha i kept forgetting stuff


[edit on 15-10-2008 by vonvitt]

[edit on 15-10-2008 by vonvitt]


[edit on 15-10-2008 by vonvitt]



posted on Oct, 15 2008 @ 06:24 PM
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Debit, you are using your own money to pay and unless you don't have sufficient funds in your account there should not be a problem.


Check cards are the same thing as debit cards so see above.

With credit you then owe the credit card the same amount plus interest. Thats not worth it to me. Why pay more than you have to?

I have always just used my debit card. To me it just makes more sense.

Or you could always just pay cash, It makes any purchases you want to remain unknown harder to trace




Dusty



[edit on 15-10-2008 by gimme_some_truth]



posted on Oct, 15 2008 @ 07:30 PM
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I usually use cash personally, It's easier for my little brain to keep track of!
But I also have one of these pre paid credit cards - I call it my pretend credit card, it's really a sort of debit card with a mastercard logo, makes a lot of sense for my and my random spending habits - it's harder to get carried away spending on the internet, I've got to get to a shop with one of those pay point systems (they are everywhere) or to a postoffice.. Also I think the charges are very fair.

£9.95 to buy the card in the first place
no monthely charges
Free to top up at postoffices (but not instant like in the shops), also free to top up from the Virgen site and by money transfer.
2.75% charge to top up at paypoint
2.5% to top up from another credit card.
2.95% per transaction / cash withdrawl (which is a bit high - but acceptible as it's either for emergencys or internet use)

There are plenty of other deals - I wen't for this one cos it seemed quite middle of the road, one major problem it that any money on the card is NOT protected! If Virgen money goes down the swanney everyone will loose ALL money toped up to the cards
but I am covered in card of credit card fraud. Overall pretty handy for me - I'd be dangerous with a 'grown up's' credit card! Good to give to kids as well I suppose (reckon Virgen will give me a job after that little lot??

This is the one I got

Edit to add - My card details are 5412 6752 2645 2512 exp 13/07
And if you believe that I have some very interesting business proposals I would love you to hear

[edit on 15/10/2008 by Now_Then]



posted on Oct, 15 2008 @ 09:27 PM
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re debit card = check card...

Aren't there subtle differences? I think with debit cards you can have a small "surcharge" or fee tacked onto it when you purchase at a POS?

Where as with check card, it's treated as if you wrote a paper check?



posted on Oct, 15 2008 @ 10:59 PM
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Originally posted by SirPaulMuaddib
re debit card = check card...

Aren't there subtle differences? I think with debit cards you can have a small "surcharge" or fee tacked onto it when you purchase at a POS?

Where as with check card, it's treated as if you wrote a paper check?


A check debits your account when processed. Debits and credits are accounting terms that aren't very exciting to talk about so...

I haven't worked for every bank out there by any means, but I have worked for three of the larger ones. In each of those institutions a debit card=check card.

Look at it this way, since I haven't had direct experience with every institution out there all I can say is.... Don't listen to anyone on this board and go to your your bank and ask them for the account disclosures



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