Not if you pay on time.
Do you keep a credit card ? Or only a debit ?
- Thread starter traderwald
- Start date
Not if you pay on time.
As an example of when cash is more convienient than debit visa/mastercards, credit cards or debit cards...
Neighbour's kid wants to cut your grass. Obviously you aren't going to give the kid your credit card, debit card nor debit visa/mastercard.
Giving the kids cash when they plan to hang out with their friends (e.g. go to a movie, go to the mall).
Another example, one of my favourite grocery stores requires you to use their carts but you need to insert a one dollar coin into the slot of the cart to be able to use it. You get your one dollar back when you leave the store and put the cart back in its proper place.
- Thus, useful sometimes to carry cash too. I usually try to keep about $100 dollars in my wallet. Tough to do because I have teenagers.
It's why I wonder how do people get by when they say they have no debit cards nor debit visa/mastercard but just credit cards.
P.S. Some stores (not many) will allow cash back after making a purchase with a debit card or debit visa/mastercard. Doing such with a credit card...you're charged a higher interest rate. The latter you'll be increasing your debt.
P.S.S. Many countries don't use credit history the same way as the U.S.A...a few do not even have a credit report agency.
wrbtrader
P.S.S.S When you are getting mugged by a crackhead...
You use a bank card that may or may not be a debit card. And actually you can use credit cards also nowadays to withdraw cash just not depositing funds.
Turned it down. Hacked a couple of times and decided not worth the trouble. Besides, credit cards have rebates/rewards going way back (years) before they became popular.
And I can get cash too.
Hi guys,
How does a credit card provide protection to transactions that the owner did not make ? How does the owner prove that a transaction is not done by the owner ?
How soon to be notified and and how to keep track of any transactions so as to notify soon to the credit card provided if one did not do the transactions.
Reading online it says credit cards are not that safe either. So how is it credit card is safer than the debit based account ?
How does a credit card provide protection to transactions that the owner did not make ? How does the owner prove that a transaction is not done by the owner ?
How soon to be notified and and how to keep track of any transactions so as to notify soon to the credit card provided if one did not do the transactions.
Reading online it says credit cards are not that safe either. So how is it credit card is safer than the debit based account ?
Because credit cards have built-in fraud protection, which was strengthened recently, whereby you are not liable for the errant charge if you dispute the charge within a certain amount of time of the charge taking place.
A debit-based account (i.e., the debit card backed by your checking account) does not offer that protection. Your checking account's money is sucked away immediately. The credit card places the "counterparty risk" in the hands of the credit issuer. Make sense?
VERY BAD IDEA, because that is known in credit card parlance as a "cash advance". And if you thought your credit charge APR was bad, go look through your credit card agreement and see what the APR is on a cash advance. *bristles*
True. That is why I only do it in a pinch. If I want cash I go to the neighborhood branch and these days almost nobody needs cash.
do you know it's cheaper to borrow money to trade from your credit card at 0% interest rate for 1 year (than to borrow money from your broker (trading on margin).
These days (Pandemic) almost nobody goes to the neighbourhood branch. Prior to the Pandemic, I would see about +20 cars in the parking lot of the bank.
Now we're in a Pandemic, I see about 5 cars in the parking lot of the bank during typical work hours.
Yet, drive thru seems to be more busy.
Also, there's been a few times, prior to the Pandemic, I go into a store and their payment terminal is not working (offline). During those times, they only take cash. I was very glad to have cash on me.
P.S. You must not have kids nor teenagers. Mine...I need to make sure I have cash especially when they go out to do activities with their friends. Yet, during the Pandemic...they haven't been out much even after the stores have reopen.
wrbtrader