Credit cards vs Debt cards

[Borderland]

My other bank called yesterday and said they approved my app for a Visa CC. Banks are weird. I guess the bank that I use the most had a better handle on my financial activity than the one that declined my app. Anyway, at least one bank loves me, or at least my money.

[jh9]

My other bank called yesterday and said they approved my app for a Visa CC. Banks are weird. I guess the bank that I use the most had a better handle on my financial activity than the one that declined my app. Anyway, at least one bank loves me, or at least my money.

They only love you for your money.

[mmc45414]

My other bank called yesterday and said they approved my app for a Visa CC. Banks are weird. I guess the bank that I use the most had a better handle on my financial activity than the one that declined my app. Anyway, at least one bank loves me, or at least my money.

Probably more like they have all the credit card customers they need, and do not want anymore no matter who they are. There may even be rules about how much they have out there already.

[Borderland]

Probably more like they have all the credit card customers they need, and do not want anymore no matter who they are. There may even be rules about how much they have out there already.

That's probably it. The bank that rejected my app is a large west coast bank. The one that gave me the card is a PNW bank with maybe 60 branches.

[Jim Watson]

I have a credit card and a debit card through my credit union. I only use the debit card for groceries and prescriptions.
I use the credit card for all other local purchases.
I quit buying gas at the only nearby station with E 0 alcohol free 93 because my card was twice hacked shortly after fueling there.

I have a credit card through Amazon that I use for online purchases.
Obviously they can serve as backups for each other but normally is is one local, one away.

[Borderland]

I have a credit card and a debit card through my credit union. I only use the debit card for groceries and prescriptions.
I use the credit card for all other local purchases.
I quit buying gas at the only nearby station with E 0 alcohol free 93 because my card was twice hacked shortly after fueling there.

I have a credit card through Amazon that I use for online purchases.
Obviously they can serve as backups for each other but normally is is one local, one away.

That's probably a good plan.

[alamo5000]

Recently it seems that I've had to replace debt cards every 6 months or so due to fraud and online use. I'll admit it's convenient but damn the hassle is becoming bothersome. We have debit cards but no credit cards. I understand the difference in that the credit card payment comes due every month and there's a heavy price to pay (interest) if you don't pay the amount due in full. That wouldn't be the case for us as we have no debt other than the day to day stuff like food, utilities and fuel. In other words we don't play the credit/loan game.

I just got off the phone with the bank to dispute two charges in the last few days. About all they would say is we have to investigate this. OK, investigate it, but if I end up paying it the debit card gets cut up.

Anyway, my question to those that only use a credit card, Is this more secure than a debit card. Do credit cards make it easier to track down a charge. I see all manor of coding on debit transactions, including bogus phone numbers, and I can't figure out where some of those charges came from. My wife also uses that card and can't remember if she charged a certain item or not, so it's up to me to figure out if it's legit.

My neighbor, who was in business for a long time and worth a few million, says to ditch the debit cards.

I ONLY use credit cards totally for everything. That said, I try to always carry at least three forms of payment on me at all time. My primary is always a credit card, especially online. Secondary is either cash or debit card. I keep the debit card locked until I need it, then I lock it back.

The primary thing is the laws surrounding debit cards vs credit cards are totally different animals. Because they fall into different categories (legally) they can and usually are treated differently when it comes to fraud and so forth. For example with a debit card if you want to dispute a transaction a lot of the time you have to fill out forms and jump through a lot of hoops, plus in some cases you have a minimum liability depending of course on the bank.

A debit card is essentially part of your actual bank account. Because of this the rules are totally different as to people trying to rip off the actual bank. It's not unheard of for people to have fraud on a debit card (actual fraud) but then to be completely out of cash entirely for days if not longer while the process plays itself out.

Credit Cards on the other hand fall into a completely different bucket hence they are treated differently for the most part.

I am like you--I don't do debt. I have some for a car now, but that was strategic and for other reasons. I could have paid cash for the car but I financed part of it just because I wanted to do it that way. I pay off my credit card balance every single month. In fact I pay it off completely every payday, which is twice a month.

That being said, you will never catch me using a debit card online for ANYTHING. NO WAY, NO HOW, NEVER. 100% credit card, then maybe cash, or in last place, debit (in an emergency).

[karandom]

I think the credit vs debit security debate has been pretty well covered, but there is another huge benefit to credit cards: FREE MONEY!

Ok not really free, as it is built into the prices we all pay due to swipe fees, but if you aren't taking advantage, you aren't getting your share.

I know of at least 2 cards with 2% cash back with no annual fee. If you pay your card off every month, then it is literally free 2%.

https://www.nerdwallet.com/reviews/c...ti-double-cash

https://www.nerdwallet.com/reviews/c...go-active-cash

There are pretty complex ways to try and game credit card rewards, but its beyond this thread.

[Nephrology]

I think the credit vs debit security debate has been pretty well covered, but there is another huge benefit to credit cards: FREE MONEY!

Ok not really free, as it is built into the prices we all pay due to swipe fees, but if you aren't taking advantage, you aren't getting your share.

I know of at least 2 cards with 2% cash back with no annual fee. If you pay your card off every month, then it is literally free 2%.

https://www.nerdwallet.com/reviews/c...ti-double-cash

https://www.nerdwallet.com/reviews/c...go-active-cash

There are pretty complex ways to try and game credit card rewards, but its beyond this thread.

Yep. I use chase freedom which is 1.5% on all purchases and my fidelity credit card which is 2% for all purchases but I can only redeem the points as cash in my Roth/individual brokerage accounts with Fidelity (which is perfectly fine by me)

[Borderland]

I'm just now learning about brokerage accounts also. But that's another topic worth it's own thread.

I've been living under a rock, or maybe just in a cave, for a long time.