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Credit or debit card?

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bulldogbetter
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Credit or debit card?  Reply with quote  

Which is better?
Post Fri Mar 04, 2011 6:57 pm
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KatherineLee88
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Re: Credit or debit card?  Reply with quote  

quote:
Originally posted by bulldogbetter
Which is better?


Depends on personal preferences. I prefer credit card. Recently I listened to a podcast that gave me even more reason to prefer a credit card. Here's a script of the podcast I listened to:
http://moneygirl.quickanddirtytips.com/pros-and-cons-of-debit-cards.aspx

For me, using a credit card just makes more sense. I don't like the lack of protection from debit card use fraud. The fraudulent laws are much more stricter, and favorable for consumers for credit cards (Fair Credit Billing Act).
Post Fri Mar 04, 2011 9:06 pm
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rob86
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A consumer who is not credit worthy and may find it difficult or impossible to obtain a credit card can more easily obtain a debit card!
Post Tue Mar 15, 2011 7:59 am
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khosta
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Anyone can get a debit card! It's jus tlike cash. These days it seems it's harder for people to obtain a CC. If you can get a CC I would do, it as long as you can make the payments, so you can start building credit!
Post Wed Mar 16, 2011 4:10 pm
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littleroc02us
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Re: Credit or debit card?  Reply with quote  

quote:
Originally posted by KatherineLee88
quote:
Originally posted by bulldogbetter
Which is better?


Depends on personal preferences. I prefer credit card. Recently I listened to a podcast that gave me even more reason to prefer a credit card. Here's a script of the podcast I listened to:
http://moneygirl.quickanddirtytips.com/pros-and-cons-of-debit-cards.aspx

For me, using a credit card just makes more sense. I don't like the lack of protection from debit card use fraud. The fraudulent laws are much more stricter, and favorable for consumers for credit cards (Fair Credit Billing Act).


Visa's zero liability is the same for a credit card and debit card. Read:

http://usa.visa.com/personal/security/visa_security_program/zero_liability.html

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Thu Mar 17, 2011 2:48 pm
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coaster
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Re: Credit or debit card?  Reply with quote  

quote:
Originally posted by littleroc02us
quote:
Originally posted by KatherineLee88
The fraudulent laws are much more stricter, and favorable for consumers for credit cards (Fair Credit Billing Act).


Visa's zero liability is the same for a credit card and debit card. Read:

http://usa.visa.com/personal/security/visa_security_program/zero_liability.html


The post quoted, and apparently disagreed with, is referring to the law. The response is referring to policy (terms of service). Apples and oranges, I do believe. Both correct. Smile
Post Fri Mar 18, 2011 4:22 am
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kate032
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I'm really not sure why people post such extraordinarily general questions and expect specific answers.

The answer depends entirely on the situation. If you have zero self-control, a credit card will do nothing but get you into trouble.
Post Sun Mar 20, 2011 2:17 am
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sirmikey1
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You cannot rent a car with a debit card.
Must be a "credit card".
Post Mon Mar 28, 2011 9:18 pm
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KatherineLee88
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Re: Credit or debit card?  Reply with quote  

quote:
Originally posted by coaster

The post quoted, and apparently disagreed with, is referring to the law. The response is referring to policy (terms of service). Apples and oranges, I do believe. Both correct. Smile


Indeed it is apples and oranges.

Still gonna say that credit cards are the way to go! In fact, why is it really a question of this OR that. Just get both and use a credit card to the extent that you can hold yourself responsible for (be smart, and use self-control).
You'll build credit, have the additional protection afforded by the law concerning credit cards (btw, not all debit cards are VISA, so VISA policy doesn't mean anything for those people), and you'll have a credit card for things like renting a car, some hotels, ect.

I rarely use my debit card except when I actually NEED cash - in which case my debit card is really just a glorified ATM card.
Post Tue Mar 29, 2011 1:58 am
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littleroc02us
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quote:
Originally posted by sirmikey1
You cannot rent a car with a debit card.
Must be a "credit card".


What are you talking about? Yes you can, there are plenty of companies that allow you to rent a car with a debit card, they hold a deposit for you. I do it all the time. It is true that not all companies will ,but believe me there are plenty who do.

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Wed Mar 30, 2011 3:49 pm
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littleroc02us
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Re: Credit or debit card?  Reply with quote  

quote:
Originally posted by KatherineLee88

btw, not all debit cards are VISA, so VISA policy doesn't mean anything for those people), and you'll have a credit card for things like renting a car, some hotels, ect.

I rarely use my debit card except when I actually NEED cash - in which case my debit card is really just a glorified ATM card.


This is true, the debit card or credit card must have a visa logo on it to be covered under the zero liabilty agreement.

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Wed Mar 30, 2011 3:50 pm
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sirmikey1
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quote:
Originally posted by littleroc02us
What are you talking about? Yes you can, there are plenty of companies that allow you to rent a car with a debit card....

Hey, thanks for the correction, and I just found this...

Most rental car companies accept debit cards, survey finds
http://www.creditcards.com/credit-card-news/paying-for-rental-car-with-debit-card-1276.php#ixzz1I6O5TYcO

.
Post Wed Mar 30, 2011 4:47 pm
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KatherineLee88
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quote:
Originally posted by sirmikey1

Hey, thanks for the correction, and I just found this...

Most rental car companies accept debit cards, survey finds
http://www.creditcards.com/credit-card-news/paying-for-rental-car-with-debit-card-1276.php#ixzz1I6O5TYcO

.


Still would rather just carry a credit card - since this will be accepted everywhere in every situation. Can't for sure say the same for debit cards.
Post Thu Mar 31, 2011 1:38 am
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sirmikey1
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Looks ridiculous & even embarrassing to rent a car with debit card:::::

http://enterprise.custhelp.com/app/answers/detail/a_id/3060/session/L3NpZC9UWFJXU2lxaw==

No thanks...

It's fairly easy to understand that they see credit cards as a
credit reference, and see debit cards as shifty...
.


Last edited by sirmikey1 on Thu Mar 31, 2011 7:25 pm; edited 1 time in total
Post Thu Mar 31, 2011 12:32 pm
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littleroc02us
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Do you know how many companies there are for rental cars at the airport? I have never had any troubles renting cars, or reserving hotel rooms with my debit card. All they do is take a deposit and give it back to you when your done. It's quite simple.

In fact all they requested from me was a drivers license and insurance.

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Thu Mar 31, 2011 1:36 pm
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