Use debit card with Hertz....get credit check????

[comanchepilot]

Yes. Just last week. From my experience with B of A, the process was identical between a compromised debit card and a compromised credit card.

I guess you had enough money in your account to cover everything else -

Now imagine you are overseas - and cannot get to the bank and your money is stolen . . .

or imagine you are like 95% of most Americans and have barely enough money to cover all of the checks you have written - and someone buys a $1000 flat screen - and now you have nothing and your rent check, and car insurance and car payment bounce - think that might just be an inconvenience?

 

[tinerj]

Do fuel pumps at airports take debit cards?

I always use credit cards. Don't have debit cards. Cannot see any advantage for debit cards (and I can see some disadvantages) over credit cards.

 

[Flymeariver]

Do fuel pumps at airports take debit cards?

I always use credit cards. Don't have debit cards. Cannot see any advantage for debit cards (and I can see some disadvantages) over credit cards.

I used my debit card at SFQ's self serve with no problem. OP, I always use Alamo, National or Enterprise. They are all owned by the same company and I have had no issue using my debit card with them.

 

[Luvrv8]

I make money with my credit card. I get anywhere between 2-5% cash back if I pay the balance each month. We use it as much as we can, we would be spending the money anyway, this way we get cash back.

 

[Jim_R]

I can see lots of benefits of debit cards for retailers and banks.

I can see no benefit of debit cards for consumers.

If you can't pay for something, it doesn't matter whether you use a debit card or a credit card.

If you *can* pay for something, it doesn't matter whether you use a debit card or a credit card...except you can pick a credit card that will give you some sort of rebate or kickback of some sort, you get some "float" time where your cash can continue to work for you before you hand it over in payment, and you're better protected from fraud liability.

 

[Jay Honeck]

I make money with my credit card. I get anywhere between 2-5% cash back if I pay the balance each month. We use it as much as we can, we would be spending the money anyway, this way we get cash back.

Us, too. We've been saving up points for five years. We're planning to take a trip to Europe on those points in 2015.

 

[Lawreston]

I can see lots of benefits of debit cards for retailers and banks.

I can see no benefit of debit cards for consumers.

In new England we have Cumberland Farms stores. Their gasoline prices are competitive with most of the other gasoline retailers. However, register with their plan, using one's Debit Card, and gasoline is 10 cents per gallon less. They get their money quickly and without paying a larger fee to a credit card company. Consumer's bank account is debited very quickly, however.

HR

 

[denverpilot]

We are debating whether we even want to mess with the cash deposit anymore. With $5000 worth of stuff in an aviation themed hotel room, WTF good is a $50 cash deposit? All it really does is weed out the riffraff, which has been good enough -- but if someone wants to take the HDTV off the wall, it won't help much.

Whoo hoo. If my TVs die, I know where I'm getting my next one!

An aside: Every now and then we get an employee who questions the "fairness" of requiring a cash deposit from "poor people" who don't have credit cards. I look them squarely in the eye and say "You are free to waive that deposit at ANY time -- but understand that YOU are then personally responsible for any damage that guest may cause."

I find it interesting that they assume someone paying cash is poor. I believe there's a line in a country song that jokes, "That guy over there could buy your fancy car with $100 bills."

You ever see anyone pay by check anymore? Seems like with check processing as fast as it is now, and the ability to deposit them by taking a photo of them, they could make a comeback as a pre-payment option in your biz.

 

[Jay Honeck]

Whoo hoo. If my TVs die, I know where I'm getting my next one!

Meh. They're four years old. 'Bout time to replace them anyway...

I find it interesting that they assume someone paying cash is poor. I believe there's a line in a country song that jokes, "That guy over there could buy your fancy car with $100 bills."

You ever see anyone pay by check anymore? Seems like with check processing as fast as it is now, and the ability to deposit them by taking a photo of them, they could make a comeback as a pre-payment option in your biz.

In Iowa we had one of those gizmos that converted a check into an "instant" deposit. Sadly, the deposits weren't "instant" (they took up to ten days to hit our account), the checks could still bounce, and the fees to keep the machine were exorbitant.

When we bought the Texas hotel, we said "No checks" except for Winter Texans who stay for a month or more. It's worked for us.

 

[Henning]

A credit score is composed of 3 primary factors: revolving debt (credit cards), term debt ( car loans, etc) and housing/long term (mortgages). Lacking recent records in one category hurts a bit, more for multiple categories. So it is good to use And pay off credit cards. At least from a credit score perspective.

Sent from my DROID RAZR using Tapatalk

Even my own bank couldn't manage to find a credit score on me even when I had $90k in an account there. "We don't understand why you don't show up..."

 

[Jim_R]

In new England we have Cumberland Farms stores. Their gasoline prices are competitive with most of the other gasoline retailers. However, register with their plan, using one's Debit Card, and gasoline is 10 cents per gallon less. They get their money quickly and without paying a larger fee to a credit card company. Consumer's bank account is debited very quickly, however.

Well, okay, now that you mention it my favorite local liquor store gives a 5% cash discount, which applies to debit cards, too. But those are one-offs, not general cases.

 

[Henning]

Well, okay, now that you mention it my favorite local liquor store gives a 5% cash discount, which applies to debit cards, too. But those are one-offs, not general cases.

Not general yet, but far more common than 'one off'. I often negotiate money off for cash, especially at 'mom & pops' with mom or pop on the till. Walk into the FBO knowing their fuel price and ask for the cash price, especially if you take 100 gallons or more.

 

[wsuffa]

Even my own bank couldn't manage to find a credit score on me even when I had $90k in an account there. "We don't understand why you don't show up..."

Yup, credit score has nothing to do with the amount of money you HAVE. None whatsoever.

A colleague of mine had significant money (7 figures) in bank and investments. Bank refused a mortgage due to lack of credit score. Colleague paid cash for house.

 

[Henning]

Yup, credit score has nothing to do with the amount of money you HAVE. None whatsoever.

A colleague of mine had significant money (7 figures) in bank and investments. Bank refused a mortgage due to lack of credit score. Colleague paid cash for house.

I have no credit score and am proud of it, I refuse to directly support an industry that sucks all the life out of the world's economy, plus large stacks of cash are a nice tool for driving bargains.

 

[nddons]

Yep, anything over $1200 is just buying status and luxury.

Buy a $1,200 car and you'll have a $1,400 transmission repair bill within a week.

 

[Henning]

Buy a $1,200 car and you'll have a $1,400 transmission repair bill within a week.

My $750 Mazda B3000 I bought 2 years ago has required 2 tires and fuel in that time and is still driving fine. I have been driving "end of life" cars all my life, there is no less expensive way of locomoting yourself around with more than two wheels and a motor unless you go electric.

I save my money for toys, not daily drivers.

 

[BrianR]

I

I've never been in a flying club, do they require a Credit card to join the club or do they ask for financials before allowing you to join. (This is a question)

Can't speak for others, but mine does not. Our airplanes are worth a total of about $150k, and we honestly couldn't care less about a member's credit score, as long as they pay their bills to us. We've had no problems as a result of that policy. We've had a few members encounter financial difficulties, but so far, those members have settled what they owe and voluntarily gone inactive.

I recently looked into a club with airplanes worth maybe $40k on a good day, and they demanded a credit score and background check of prospective members!

To each their own I guess, but it just seems silly to throw another unnecessary roadblock in the way of pilots/prospective pilots. As a member of my club's board of directors, as long as a club member follows our policies and keeps his bill paid, the fact that he/she might have had a past job loss, bankruptcy, medical collections or whatever befalls people these days, is the least of my concerns.

 

[nddons]

Why would you ever want to use a debit card? Thats just dumb for many reasons. You should not even possess a debit card. . . . a cash card to get money from your bank sure - but a debit card? No.



Here is the simple reason: if your debit card number is compromised whose money gets stolen? How many other transactions and checks bounce before you get to your bank and fix it all? How much fun will you have trying to contact everyone whose transaction or check bounced? You ever tried to convince a bank that a transaction that obviously happened - the theft of your money - did not happen?



You gotta run your life the way you want but debit cards are plain stupid from a security perspective - and there is no reason why you cannot get a credit card and pay it off every month and never put your own money at risk . . .

Agreed.

I feel like I'm the only one who carries cash anymore. When I go out to lunch with colleagues, we used to be able to compute the tip (multiplication), split the bill evenly (division), throw down cash, and split within 30 seconds.

Now, I pull out my money clip, others pull out a credit or debit card, and then make the server split the bill. 5 minute event at a minimum.

Soon we'll be acting like chicks who can't split a bill evenly if their life depended on it.

I know life is more convenient with credit cards. Say for buying gas for example. But when you have to pull a credit or debit card just to buy a $.99 bottle of water at a gas station, that's just plain stupid.

 

[Jay Honeck]

Mary and I just got back from a four day vacation. Between the two if us, we may have had $20 cash when we left -- and about that when we came home.

Every now and then, we have a guest who peels off hundreds from a big wad. They usually do it in a way that is meant to impress, yet all I can think is how stupid it is to walk around with so much cash.

If I lose $5000, I cry. If I lose my credit card, I make a phone call and get a new one. And they pay me to use it!

As a vendor, credit cards absolutely suck -- but as a consumer, they are a deal that can't be beat.

 

[cowman]

Buy a $1,200 car and you'll have a $1,400 transmission repair bill within a week.

There's a racing organization out there that has a budget of $500 for the car... so these guys go out and buy a $500 car on craigslist and put it through a 24 hour endurance race. Some of them break down but you'd be surprised how often they are reused for multiple races.

 

[paflyer]

Tim, my ATM card just says ATM on it. The banks always offers me debit cards, so I think at least at my bank they can be different.
The time frame is shorter for business cards vs consumer cards.
I understand the banks will refund stolen money to your accounts, BUT it takes time, 3-5 days maybe longer. In the mean time your checks or auto pay accounts are bouncing.

That's why you get overdraft protection, maybe a line for your monthly checking expenditures.

 

[paflyer]

I am no fan of carrying credit card debt, or really much debt at all, but I find it very easy to pay either cash for small purchases or credit card for times when I don't have cash on me. I review my credit card on line a couple times per month and pay it 3-5 days before the due date.
We run into this occasionally primarily with people over 50, they have very little credit history, no bad credit, just they pay cash and don't have a mortgage.

We pay for just about everything on cash-back credit cards, from groceries to gas to lunch. I don't know why people are so irrationally afraid of access to credit.

 

[paflyer]

Interest aside, is it better for your credit score to pay your CC in full every month, or carry a small (10%) balance?

I don't think carrying a balance makes a positive difference to the scoring. Even if it had a small effect, is it worth it to pay 18% interest?

 

[paflyer]

Why would you ever want to use a debit card? Thats just dumb for many reasons. You should not even possess a debit card. . . . a cash card to get money from your bank sure - but a debit card? No.

Here is the simple reason: if your debit card number is compromised whose money gets stolen? How many other transactions and checks bounce before you get to your bank and fix it all? How much fun will you have trying to contact everyone whose transaction or check bounced? You ever tried to convince a bank that a transaction that obviously happened - the theft of your money - did not happen?

You gotta run your life the way you want but debit cards are plain stupid from a security perspective - and there is no reason why you cannot get a credit card and pay it off every month and never put your own money at risk . . .

 

[Henning]

We pay for just about everything on cash-back credit cards, from groceries to gas to lunch. I don't know why people are so irrationally afraid of access to credit.

I have no fear of it, I refuse to support the financial industry as a conscientious objector. You do not 'get cash back' or 'get paid to use your card', that is all phony pretense. You are getting back a mark up that you can typically negotiate off with cash.

 

[paflyer]

I have no fear of it, I refuse to support the financial industry as a conscientious objector. You do not 'get cash back' or 'get paid to use your card', that is all phony pretense. You are getting back a mark up that you can typically negotiate off with cash.

Yeah, I guess I should have a private chat with the manager of the local grocery chain to see how much of a "deal" I'll get for paying cash.

 

[Henning]

Yeah, I guess I should have a private chat with the manager of the local grocery chain to see how much of a "deal" I'll get for paying cash.

I usually get 2.5-5%, if I'm buying for the boat, I usually get more and free delivery.

 

[denverpilot]

Even my own bank couldn't manage to find a credit score on me even when I had $90k in an account there. "We don't understand why you don't show up..."

This story and others here show the serious flaw in just using a *credit* report to extend credit. You'd think businesses would demand that the ratings agencies have a "universal" score that also accounts for assets.

What most sellers want is a rating on the ability to pay, not a rating on ability to swipe plastic through machines, but they pay for a service and don't really get what they want...

 

[Henning]

This story and others here show the serious flaw in just using a *credit* report to extend credit. You'd think businesses would demand that the ratings agencies have a "universal" score that also accounts for assets.

What most sellers want is a rating on the ability to pay, not a rating on ability to swipe plastic through machines, but they pay for a service and don't really get what they want...

Of course not, nobody gets what they want from the financial industry,they will get what serves the financial industry best.

 

[nddons]

This story and others here show the serious flaw in just using a *credit* report to extend credit. You'd think businesses would demand that the ratings agencies have a "universal" score that also accounts for assets.

What most sellers want is a rating on the ability to pay, not a rating on ability to swipe plastic through machines, but they pay for a service and don't really get what they want...

You really want credit agencies having information about your assets? They already have too much information, and thus, control, over us.

If I were king, I would outlaw those damned things, and outlaw the information sharing. If a bank, vendor, or whomever wants to extend credit, they can make their own assessment or ask for collateral.

 

[RJM62]

I agree that credit cards are theoretically safer against fraud than debit cards because it's not your money that's being stolen. But I also think that the inherent risk of using debit cards is exaggerated. The card is just a piece of plastic. The degree of risk is a function of the issuer's policies. And in my direct experience, reputable issuers will make things as painless as possible after a fraud event.

I had several debit and credit cards compromised a few months ago. It was a pain in the ass because of all the automated payments I had to edit, but I suffered no losses other than annoyance. Neither was there any difference (from my POV) between credit and debit cards with regard to the process of dealing with the aftermath.

Part of the reason I suffered no losses was that I had transaction notifications enabled. If you dig deep enough into most card issuer's Web sites, you'll find an option for the issuer to email and/or text you any time certain things happen. I choose to be notified any time a purchase is made that exceeds the lowest transaction amount the system will accept (typically either $0.01 or $1.00). So when my PayPal debit card was compromised, I knew within seconds. I immediately called PayPal, and they immediately refunded the money, canceled the card, and ordered a new one for me.

In the case of my credit union, their security department caught a suspicious transaction, declined it, temporarily blocked the card, and called me on the phone to follow up. Once I confirmed that the charge was fraudulent, they canceled my cards and stamped out new ones for me, which I picked up at the credit union that same day.

Because I didn't yet know where the cards had been compromised, I also canceled some other cards that I'd used recently as a precaution. There was no difference in the process between debit and credit cards.

As for reasons to use a debit card, again, they depend on the card and the issuer. Obviously, the issuer wants you to use their card because they want the swipe fees, so pretty much all reputable issuers provide zero fraud liability. What they provide beyond that can vary widely, however. For example:

• The debit cards associated with my business and personal accounts at my credit union provide zero fraud liability, but no particular advantages beyond that. They do have good fraud detection, and they did make the process of dealing with the aftermath of the compromise easy and painless. I had replacement cards within less than an hour. But there are no particular benefits or incentives attached to using the cards.
• My PayPal debit card provides zero fraud liability plus pays 1 percent cash back on most purchases. This adds up pretty quickly if you use the card for big purchases or routine smaller purchases (fuel, utility bills, etc.). PayPal also has pretty impressive fraud detection. They once called me on my cell phone within a minute or so after I'd made an ATM withdrawal in San Diego. I'd charged the original airline tickets to the PayPal debit card, but then extended my trip. PayPal's system immediately flagged as suspicious the ATM withdrawal in San Diego after I should have been back in New York.
• My Fidelity Cash Management Account debit card provides the broadest array of benefits of any debit card I've ever had. In addition to zero fraud liability, it provides extended warranties on most purchases, damage insurance on car rentals (up to the full value of the rental car), various types of travel insurance and travel-related services, and a bunch of other benefits. The leaflet describing all the benefits is six pages of fine print. In addition, when used at an ATM, Fidelity reimburses the card holder for the ATM fees.

In the end, I think it comes down to how much the issuer wants you to use their account and their card. They all want you to keep as much money as possible on deposit with them, and they all want the swipe fees. How generously they go about incentivising those things varies widely, but the zero fraud liability is pretty much a given. Especially nowadays, with all sorts of review and gripe forums out there on the Interwebs, the last thing a reputable issuer wants is a reputation for making the aftermath more painful for victims of card fraud or identity theft.

-Rich

 

[Bill]

I can see lots of benefits of debit cards for retailers and banks.

I can see no benefit of debit cards for consumers.

If you can't pay for something, it doesn't matter whether you use a debit card or a credit card.

If you *can* pay for something, it doesn't matter whether you use a debit card or a credit card...except you can pick a credit card that will give you some sort of rebate or kickback of some sort, you get some "float" time where your cash can continue to work for you before you hand it over in payment, and you're better protected from fraud liability.

Nice summary, and you build a nice credit history of on time payments.

 

[denverpilot]

Rich's advice to turn on alerts is very sound. I just assumed everyone did that. You're quite insane nowadays if you don't, IMHO.

I knew Karen had scored some concert tickets we wanted before she texted me last week. Saw the alerts from the transaction.

Phone: Ding!
Me: Sweet! Send text to Karen... "Hey I'm in a meeting so I couldn't catch that pre-sale, but looks like you got tickets!?"
Karen: Yup! September!
Me: Wooooot!



Bought some stuff at computer store over the weekend...

Clerk: "Would you like your..."
Phone: Ding! Ding! Ding!
Me: "Sorry it's telling me I spent money. Ha!"
Clerk: "Would you like a printed copy of your receipt or emailed or both?"
Me: "email is fine"
Phone: Ding!
Me: "Thanks! Have a nice evening!"