[NA]Debit v Credit card

[SoonerAviator]

I feel like the odd man out here, but I still have the same bank account I set up as a freshman in college (cough 18yrs ago cough) and have only had one instance of fraud (over a decade ago) which was cleaned up within a few days by the bank.

I use my bank card everywhere. I buy stuff online all of the time with it. I also have a couple of credit cards that I keep for emergencies but generally don’t charge anything on them for a 9-10 months at a time. My latest use of a CC was when Wally World was having issues with my bank card and it wouldn’t read it/process, so I used the CC because I didn’t feel like fighting the self-checkout kiosk.

We have the discipline to use the CC and pay it off each month, but I really just don’t care enough to mess with it and trying to see which card gets better “points” on which purchases, etc. The only CC we use and pay off every month is a QuikTrip gas card which knocks off a couple of cents per gallon at the pump.

 

[SkyHog]

It used to be that DC's could have a rewards program, but banking regulations changed ~2008 to make that no longer possible. Bummer.

I still get that with SSFCU. Money back for every swipe.

I use debit cards primarily. Never cash.

 

[X3 Skier]

My credit union debit card has the same protection as my credit cards. That’s the way they run their business.

That said, I generally use my credit cards for the perks and at the end of the day, pay it off using direct pay from the debit card account. Since the debit card has the same “operation” as the credit card, I don’t worry about using it at places like Costco that don’t accept my credit cards.

Cheers

 

[Sluggo63]

@Huckster79 Let me ask you a question, then. A Restaurant near me has recently started charging a fee for MC and V credit card purchases vs. paying cash. I thought this was against the CC company rules?

-Skip

Just read an article on this. It went to the SC in NY. It's now allowed for merchants to charge more for CC purchases than cash ones. Except, many merchants are doing it wrong. People are getting their bills, using a credit card, then seeing the amount charged was higher due to the CC "processing fee." New York law says you have to advertise the highest price on the menu, etc., then you can give a discount from that.

Edit: This was the article.

 

[Huckster79]

Just read an article on this. It went to the SC in NY. It's now allowed for merchants to charge more for CC purchases than cash ones. Except, many merchants are doing it wrong. People are getting their bills, using a credit card, then seeing the amount charged was higher due to the CC "processing fee." New York law says you have to advertise the highest price on the menu, etc., then you can give a discount from that.

Edit: This was the article.

Yes New York is one of the tougher states with it. No matter where it or how it’s done, it should never be a surprise to customer...

The whole concept of CCs, is kind of funny... If before they were “a thing” I came to you and said let’s do some crazy high interest rate loans for people and not only will we charge them for the loan we will charge the people whom they buy stuff from with the loan... you would look at me as if I had lost my mind, no one would do that! Wish ida think up the concept!

The money they make even on those of us who pay it off monthly and don’t pay em their big interest rates, say I charge $2000 a month and pay it off every month, if they are getting 2% from the stores I buy from, so they aren’t really shelling out 24k a year, they are shelling out 2k a month repeatedly, or 24%... add that to my interest I’d I don’t pay it off each month! We get excited when our investments do 1/3 of that first figure!!!


If I had thought that up, I’d be flying a big ol radial engined classic right now! Instead I make my living off the edges of it and fly a classic with a behomouth c85 under the cowl, lol.