Lara, yeah i agree, it's nearly criminal how banks are giving them away to the one's that really can't afford them, a few weeks back on Current affairs, did you see how a girl applied and got a credit card for her cat using the cats name and actually got it ? :D:D
Thanks for that site, i like the prepaid idea too, i will check that out. thanks. :)

Curious, the one Lara mentioned sounds similar to the one you speak of, would be very handy for buying stuff off the net, a lot faster than snail mail.:)

Rose, i also think it is dangerous debiting directly from your bank account, they say Paypal is safe but i don't know so much really, i would prefer the prepaid one that you can leave small amounts in it, just enough to purchase stuff over the net, what a boss you had, boy that's unreal coming from an employer, identify theft is very common these days too, its unreal what some low life's will do.

Brian :)

Rose:

You said "Watch out for cards that draw from your bank account. Yikes."

Mind if ask why you said Yikes?? If you have a certain amount of money in your bank account, and you use the debit card, then what is the problem??

Just curious.

Melody

melody,

some places like hotels and gas stations will put a "hold" on a certain amount of money. this can tie up your money for days or even weeks.

other than that...they are protected under the visa logo. just check with your bank on the procedures incase you ever have a problem. they might have a time limit to report or a an amount cap. (same with many credit cards)

i think if you are responsible and only go to secure sites, there wouldn't be a problem.

for me..i am not a credit card fan. i don't like paying interest. if i don't have all the money to buy something, then i wait until i do.

(hubby has some...for emergancies and if we would ever have to use one at a hotel or such..rent a car. slim chance...we don't vacation.

brian. yes, that card is the same type we have here. really, they are great. i found that my daughter really watches her money. no more finding loose change places. it's like she gets the full amount for her money now. she really watches it too. hehehe...no more asking mom for a few dollars either. :D

Curious:

You said "some places like hotels and gas stations will put a "hold" on a certain amount of money. this can tie up your money for days or even weeks."

Let me see if I have this straight. Let's say I bank at XYZ Bank. I have a bank card which I can use either as a debit card or a credit card. When I go to any store, and use it as a debit card (let's say I'm shopping at the supermarket), I buy $50 worth of groceries. I have more than enough in my checking account to cover this amount. I use the card as a debit card. I swipe it. I have to put a PIN number in when I use a debit card.

Are you saying, that if I were to do this in a gas station or a hotel, the place would put a hold on the $50.00. I don't understand this.

I simply assumed, that when I went to any place and used my bank card as a debit card (and not a credit card), that it would simply take the money from my checking account and that would be it.

Am I mistaken?

Thanks.
Melody

i hope this helps. imo the places should make this known. hubby and found out about it on our honey moon.

we went to dallas to a very upscale expensive hotel. we were treated like garbage. mistake we made...changing our clothes before we got there. me out of a wedding dress. we were dressed in very nice nike sweat suits.

hubby gave them his visa debit card. the guy rolled his eyes and said"i take you dont have a credit card? we have to put a hold on your card and you won't have money to spend". :eek: first off..the guy had no idea how much money hubby had in his account. we ended up not staying there. the guy just kept getting more rude. later we got a letter for a free night..but never used it.

Credit cards and interest
 

Dear Curious:

One does not pay interest on credit card bills if the month's bill is paid every month. It is only when you don't pay every month that interest is charged. At least this is my understanding and how my bank's credit card works.

Also, I never heard of debit cards causing "holds". I plan to use mine only in Aldi's grocery stores, which don't accept either credit cards or checks.

Shirley H.

oh i know this. but then why not just pay cash?

my post said hotels and gas stations. card such as the visa or mastercard debit cards. i know grocery stores don't do this. they are retail.

Debit or credit card "holds"
 

Yikes! Just looked this up on Google. "Holds" might be put on by such places as gas stations, (because of the high cost of a tankful) hotels, car rental companies. They want to make sure there is enough money in the account to cover their charges.

Everyone needs to look this up, too. I plan to stop in at my bank and inquire about their policy for grocery store use.

Thanks to the poster that alerted us to this practice. I had never heard of it before, but then I had never applied for a debit card, either. We sure learn a lot from our fellow posters. Thanks again.

Shirley H.

Melody,

The problem is that if someone does get your information they can clean out the account it's connected to. Unfortunately, a lot of institutions are offering incentives to get people to use debit cards, and when debit cards are used the advantages of a credit card are lost and there is a real chance a person can lose the money in their account.

For those who must use a debit card for one reason or another, don't connect it to an account with lots of money in it.

For people who are able to keep their credit card use under control and pay it off every month, there are great advantages to using one: a record of purchases, convenience, extra warrantee time, recourse in case of a bad purchase experience, limited to no liability if lost or information stolen, and even in some cases cash back periodically.

rose

Why not just pay cash?
 

Dear Curious:

In order to pay cash at the grocery which doesn't accept a credit card or check, I would have to stop at the bank each time. Even though the bank is on the way, this is not very convenient. Plus we live in a very large metropolitan area and I don't like to be carrying a lot of cash.

Shirley H.