Comments on: When The Cashier Asks “Credit or Debit?”

By: Monevator

Monevator — Sun, 30 May 2010 11:19:02 +0000

Even though we have credit cards in the UK, we don’t have this strange debit/checking/credit bank system you guys have. The first time I used a US ATM I was speechless.

On the other hand, I’d always use a credit card. Effectively it’s free money for 30-56 days.

Provided you pay it off every month in full, then what’s not to like about free money? :)
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By: MyFinancialObjectives

MyFinancialObjectives — Thu, 27 May 2010 01:06:15 +0000

I always choose credit. But I have Wachovia’s Way2Save program. Every time I use Credit, and extra $1 comes out of my bank account into a savings account…. Such an easy way to save!
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By: Daniel

Daniel — Wed, 26 May 2010 20:39:11 +0000

Great question! Yes, you have to sign up for a card that offers cashback or miles. Most offer around 1% so you won’t see much unless you are spending a signiicant amount of money each month. If that’s the case, your system works fine because there are no real savings or earnings to be had.

By: Lbergs

Lbergs — Wed, 26 May 2010 08:30:09 +0000

I really don’t know a lot about this stuff… how do I get points and miles by using a credit card? Do I have to pick a certain card or something? I pretty much only use my debit card as debit, just cause I like that it takes money out immediately so I always know how much I have in my account… what credit card should I be using??

By: Ira

Ira — Tue, 25 May 2010 18:41:24 +0000

I wonder about the issue of merchant cost. I asked a local merchant, and he said the charge was the same to him for credit or debit from a bank card. Is there a difference between these cards and regular credit cards (American Express, Visa, MC, not tied to a checking account)?

Ira

By: Daniel

Daniel — Tue, 25 May 2010 15:59:52 +0000

@Everyday Tips, I also use my credit card exclusively other than ATM withdrawals. Why not earn those points, even if 1% of $3 is just 3 cents? It also helps so that I onlt have to make one large withdrawal from my checking account to pay the credit card instead of see it slowly dwindle over the course of the month.

By: Evan

Evan — Tue, 25 May 2010 15:04:16 +0000

I actually knew about the cost aspect of it because I asked once so if it is a small merchant (like a pizza place or similar establishment) I will always say debit just to keep their costs low. .-= EvanÂ´s last blog ..My Experience in Trying to Find a Rental Car =-.

By: Little House

Little House — Tue, 25 May 2010 13:51:26 +0000

I use my debit card as credit on most transactions since I earn points this way. I then use my points for gas cards. I save quite a bit of money on gas throughout the year because I rack up so many points. It's good to hear that I also have more coverage using it this way. Thanks for that info! .-= Little HouseÂ´s last blog ..Monthly Update for May =-.

By: Everyday Tips

Everyday Tips — Tue, 25 May 2010 12:51:48 +0000

I didn't know all these details on the debit card either. I never use my debit card for anything other than the ATM machine thought because I love the rewards I get from my credit card. (Meaning cash rebates, airline miles) .-= Everyday TipsÂ´s last blog ..Money Saving Tips #4: Spend Now to Save Later =-.

By: Suzanne

Suzanne — Tue, 25 May 2010 11:59:36 +0000

Thank you for sharing this information; I was not aware this is the way transactions were handled with a debit card. I definitely thing I will be using mine as credit from now on-the added protection is definitely a bonus!
Suzanne
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