I've come across of this article at Yahoo where it talks about the places where we shouldn't be using our debit cards. http://finance.yahoo.com/banking-bu...o-use-your-debit-card?mod=bb-checking_savings 1. Online 2. Big-Ticket Items 3. Deposit Required 4. Restaurants 5. You're a New Customer 6. Buy Now, Take Delivery Later 7. Recurring Payments 8. Future Travel 9. Gas Stations and Hotels 10. Checkouts or ATMs That Look 'Off' Funny because after reading it, I was wondering what was left? There isn't anyplace to use the debit card then. Why can't we just have safeguards in place for the debit card then?
my debit card got scammed last Christmas for a few thousand pounds. Someone treated themselves to some expensive Tiffany's jewellery on my card somehow, lol. Im almost certain it must have been a member of staff at the website i buy my contact lenses from, as i hardly ever use my card online except for that. Got my money back quite easily though so no big deal, although i was totally stressed out over Christmas worrying about getting my momney back. I still get mail to my address, but addressed to a name i dont recognise from Tiffany's jewellery company..?....
Simple solution is to keep most of the money in savings and little in your checking. Move the money over when needed and don't have overdraft linked to your savings.
I few years ago I had a job which took me to China a few times a year. I read somewhere that alot of fraud was happening in China. So typically when I traveled there I only used one of my credit cards and would always try to have more than enough cash so that I didn't have to use an ATM. Nothing ever happened so maybe I was being paranoid.
I've never understood the attraction of debit cards and when they are forced on me by my bank I simply stick them in a safe for storage never to be used. Why would you ever want to use a debit card instead of a credit card when the latter gives you cash back (or other rewards), free use of money until the end of the billing cycle and better consumer protections backed by law? The only advantage of the debit card I can see is for weak-minded people who can't control their spending with a credit card and end up racking up cc bills they can't pay off at the end of the month.
here is one reason i'm using debit cards- 4.3% on checking account http://www.royalbanksofmo.com/home/personal/checking/majestic
You nailed it. And that's why they're so popular. The majority of folks can't keep it in check. Credit cards superior to debit cards in terms of protection. I can't think of one place where I wouldn't use my credit card.
That's a great rate but its only good up to $25k...I don't think its worth the hassle of making 15 debit card POS purchases/month.
25K for you,25K for wife that's 50 already..just make 2 transactions instead of one @ gas stations and then 15 is no problem. about 160 in interest a month. not a bad deal. works for me.