Debit or Credit ?

Deschodt · 09-19-2019, 07:47 AM

My Debit card was compromised today. Again. No fraudulent transactions, just a heads up from the bank, new card in the mail, blah blah. This happens so much now to both debit and Credit cards that I no longer have time to wear out the magnetic strip before I get a new one (something I'm usually very good at).

It brings the Question: what do you guys use most ?

I keep close tabs on my banking so I use debit most, I like the immediate debit from my checking - I know where I stand. It was pointed out to me that I should use credit cards more because the protection is better in case of fraud - but both seem to be compromised as frequently and the bank seems on top of them all.
I don't like using the CC generally because those little expenses add up to a bigger bill as opposed to immediately being gone from my checking and leaving me with a clearer picture. Then again, more points, more safety supposedly.... What do you guys do? Are debit becoming a no-no? Are they really less safe ?

craigster59 · craigster59's Garage

I tend to use my personal credit card and company credit card almost exclusively. They are Southwest Airlines and Hawaiian Air so I rack up miles and I just pay them at the end of the month.

I also like them for filing taxes with my LLC, I can print my end of year statement and deduct the appropriate expenses.

KFC911 · 09-19-2019, 07:58 AM

I use a CU debit....have exclusively for a dozen years now. The fraud detection has improved exponentially since they appeared....they "catch it" before it happens now

. I use mine with no fear, and don't fall for the "industry BS"...CC's make them big $ by comparison. I worked for two of the largest mega-banks years ago...

Follow the $....the banks have it, and will not kill their two geese....one golden, one silver...they eat the losses on both...usually.

That's my story... YMMV

Evans, Marv · 09-19-2019, 08:04 AM

Of course at this point in my life, my banking situation is very simple. I use my CC exclusively because of the coverage in case of fraud - which I've experienced twice in the past ten years. I actually only use my debit card to withdraw cash from ATM's or as a backup in case a CC isn't possible to use for some reason. I keep only enough in my account to cover bills plus a few hundred, so if my debit card is compromised not much damage is done. I realize most of you have more complicated needs than I do.

masraum · 09-19-2019, 08:07 AM

Credit

KNS · 09-19-2019, 08:15 AM

Wasn’t there just a thread on this recently?

People - stop using a debit card for purchases. Any and all purchases.

KFC911 · 09-19-2019, 08:29 AM

Quote:

Originally Posted by KNS

Wasn’t there just a thread on this recently?

People - stop using a debit card for purchases. Any and all purchases.

Nonsense....a CC does NOT work for me....a debit does.

I DO know the cost and risks of both.

There are lots of threads in the archives btw....

sc_rufctr · 09-19-2019, 08:29 AM

Quote:

Originally Posted by masraum

Credit

This because a credit company will cover the cost if your card is compromised.

KFC911 · 09-19-2019, 08:33 AM

Quote:

Originally Posted by sc_rufctr

This because a credit company will cover the cost if your card is compromised.

Not really much different than a debit.

For the vast majority anyways...YMMV.

Wasn't always like this...

GH85Carrera · GH85Carrera's Garage

Quote:

Originally Posted by sc_rufctr

This because a credit company will cover the cost if your card is compromised.

So does my debit card.

My credit union give me 3.5% interest on my checking account if I use the debit card at least 10 times per month, and pay bills online. Online bill pay has no fee, and I save the cost of a 50 cent stamp.

I use my credit card on any on-line purchase or big ticket item. The debit card for smaller purchases.

I have in the past had my debit card compromised. Once I was transported to Italy and buying scuba gear at a dive shop. Since I have never been to Italy they stopped it before it was approved, and I got a new card.

T77911S · 09-19-2019, 09:11 AM

watch the video of the guy from the movie catch me if you can.
he specializes in security and says always use your credit card, no debit.
I still use my debit out if habit.

my wifes card gets stolen more than mine,
she uses it a lot in her business to order product.
it just takes one person on the other end of the phone to steal your card which is what happens to her.
the little 3 digit security code on back makes me laugh, like they don't have that too,

flipper35 · flipper35's Garage

That was Frank Abingale. He was at SpiceWorld last year and said to use only a credit card and ATM card, no debit cards at all. Has something to do with information they can get via debit vs credit.

look 171 · 09-19-2019, 09:58 AM

Credit and debit for ARCO gas only, nothing else.

My card was compromise once and found out they bought 6000.00 with of stuff in Alabama and Georgia before my CC company called me.

The part that piss me off the most was when I got gas in Calgary my CC co. froze my card because it was a suspicious activity due to the charges being out of the country. so I had seat on my phone to get it all straighten out. Couldn't use my card to eat lunch. PITA

Dantilla · 09-19-2019, 10:05 AM

I refuse to use a debit card.

With a credit card, there is one withdrawal from the bank account, once a month, vs every purchase.
Pay in full, every month.

I don't have problems with the CC getting compromised, but that's most likely because I predominately use cash.
I haven't used a card in a restaurant in.... probably ever. Never a problem using cash.

Dantilla · 09-19-2019, 10:07 AM

Quote:

Originally Posted by look 171

Couldn't use my card to eat lunch. PITA

Keep some cash with you, and it's never an issue.

flipper35 · flipper35's Garage

Quote:

Originally Posted by Dantilla

I refuse to use a debit card.

With a credit card, there is one withdrawal from the bank account, once a month, vs every purchase.
Pay in full, every month.

I don't have problems with the CC getting compromised, but that's most likely because I predominately use cash.
I haven't used a card in a restaurant in.... probably ever. Never a problem using cash.

Which brings up an issue a coworker had at one of the local restaurants. She paid with a cc but after putting the tip on and signing it, the host changed the amount.

look 171 · 09-19-2019, 10:21 AM

Quote:

Originally Posted by Dantilla

Keep some cash with you, and it's never an issue.

I always use cash when I travel

Dantilla · 09-19-2019, 10:34 AM

I used to be part-owner of a commercial building that had a pizza place. Whacky owner was mismanaging, and had money problems. We eventually had to evict her.

Found out that when customers left a tip on their credit card, the servers never got it. The owner was keeping the tips.

Probably rare, but just another reason to leave cash for good service.

KFC911 · 09-19-2019, 10:41 AM

Quote:

Originally Posted by Dantilla

Keep some cash with you, and it's never an issue.

So how do "I" get cash? Debit card...cash back on purchases, so I use both

. I am not naive about these matters...

carreradpt · carreradpt's Garage

Credit card always here, for everything. I know what I will spend every month. Pay the bill online, no stamp charge. Haven't paid a finance charge in 30+ yrs. Just to have some cash in my pocket I will use the debit card at my lcl CU. I rarely use cash.