quote:

Originally posted by sigfreund:

what’s the reason to prefer the DC over the CC?

Some banks / credit unions offer incentives to use a debit card.

A credit union where I have accounts offers both credit cards and debit cards. If you use the debit card for at least eight transactions during a calendar month, you get a higher interest rate on your checking account. This will result in a significantly higher yield on funds kept in checking, than the rate that their savings and money market offer.

quote:

Originally posted by V-Tail:
Some banks / credit unions offer incentives to use a debit card.

Why would that be, do you know?

I have never had a debit card and it should be obvious from my question that I don’t understand all the differences between them and credit cards. Based on what I do know, however, why wouldn’t issuers prefer that people have credit cards in the hopes that they would run up debt and then have to pay high interest rates? It seems even from the discussion here that having a CC is a great temptation for some people to do that. I haven’t paid a cent in CC interest in years, but there are plenty of users of the cards who do.

quote:

Why would that be, do you know?

They want to encourage the use of debit cards over checks. Checks cost the bank money to process. Debit cards make the bank money as they charge merchant fees.

I suspect they have also run the statistics to determine that you're more likely to overdraft your account when using a card.

Okay, thanks.
I thought I was the only person left who regularly used checks to pay for things. I assumed that knowing how to write a check was becoming some of that lost knowledge like changing a car tire or being able to read cursive.

Alas, this fraud done to me was mostly my fault and I take the blame. I don't usually check my transactions but just my running balance. Somebody way back before Christmas was trying to charge my card for airline tickets and such. The transactions were declined but each one costs me .75(did not know they did that). This started in Singapore and then the number was given to somebody in Florida who must figured out how to use it and they racked up most of the charges.

Although it is a hassle, from now on I will retrieve my balance from an ATM on a weekly basis so as to not amass such a big positive balance.

I don't own a smart phone so I can't do the app to watch my transactions.

I don't why anyone uses a debit card.
Something happens you are at the mercy of the bank to make it right.
Credit cards the banks go out of their way to clear up things to maintain their reputation.
Plus you can always say FU if things end up sideways.
Better off with cash in your pocket, wallet or mattress over a debit card.

The times I use my debit card is to get money from an ATM (now I don't need the card as I use my smart phone with the debit card in my wallet app. But I still need the debit card when I"m at an Arco gas station because they don't take credit cards. They're still the lowest price even with the $0.35 transaction card. The last place I need the debit card is to get to my safety deposit box. I have to show the guy before he goes with me to open the safety box.

Update......only took a few days and the debit card company refunded all my money. I was expecting a 90 day wait but it seems like it was shorter. I checked my balance and the money is now all there.

Now, I just need to decide if that new Browning Medallion .270 with a Nikon prostaff scope is what I want...........

That's great news!