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Debit cards

This is a discussion on Debit cards within the Economic, Precious Metals, Investing, Finance forums, part of the General Discussion category; Many of our members have been around awhile and already know this. This is for the rest. Do not use debit cards. Debits cards were ...

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Thread: Debit cards

  1. #1
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    Debit cards

    Many of our members have been around awhile and already know this. This is for the rest. Do not use debit cards. Debits cards were created to get around protections afforded to credit cards holders. Once again some one I know used a debit card to make a large online purchase from a company that has been around awhile. They locked the doors and he got burned. Had he used a credit card and or paypal he would have had options. Likely he would not be out the money now. With a debit card there is zero protection. If some how A person got your pin witch is easy to do and drained your account, there is nothing you can do. The bank will just say sorry sucks to be you. They can not get away with that with a credit card.
    On line purchases are a crap shoot even with known companies, protect your cash use a credit card and a third party like paypal that will cover your losses.
    Anyone that tells you any debit card is safe is laying to you. There is no other way to put it.
    GTGallop, bigwheel and Denton like this.
    New life as a house husband, major shift in duties.

    Karl Marx said, "Destroy their culture, rewrite their history. Ruin their art and literature, and defame their heroes, by offering fabrications to scandalize that which they considered good.
    After reading this Obama said I am on it.

  2. #2
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    Good reminder.
    Blessed be God, my rock who trains my hands for battle, my fingers for war. Psalms 144:1

    Victory can depend on a dog or a goose---Napoleon

  3. #3
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  5. #4
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    Quote Originally Posted by Smitty901 View Post
    Many of our members have been around awhile and already know this. This is for the rest. Do not use debit cards. Debits cards were created to get around protections afforded to credit cards holders. Once again some one I know used a debit card to make a large online purchase from a company that has been around awhile. They locked the doors and he got burned. Had he used a credit card and or paypal he would have had options. Likely he would not be out the money now. With a debit card there is zero protection. If some how A person got your pin witch is easy to do and drained your account, there is nothing you can do. The bank will just say sorry sucks to be you. They can not get away with that with a credit card.
    On line purchases are a crap shoot even with known companies, protect your cash use a credit card and a third party like paypal that will cover your losses.
    Anyone that tells you any debit card is safe is laying to you. There is no other way to put it.
    The same thing could have happen if he had written a check or paid cash

    The good of debit cards out weigh the risks of getting ripped off... And if your account is hacked there is a federal law that limits your losses....

    1. debit cards can be linked to a separate account where you transfer just a certain amount of money into
    2. nobody has ever accumulated $25,000 in debt using a debit card
    3. no interest rates on a debit card
    4. federal law limits your loss in case your card is lost of stolen

    now I am a paypal fan.. I like paypal

    I do not have a personal credit card
    Be a Berean

  6. #5
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    In a face to face transaction with a reputable business, I don't think it matters whether a debit or credit card is used. For online purchases then a credit card or service such as PayPal is in my estimation a better/safer way to go. YMMV

    Many credit cards offer incentives. I know people who bought a bought a firearm using points from their Cabalas card.

  7. #6
    The Good Cop


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    I have not had a credit card in over 30 years.
    I have bought online with a debit card and never had a problem.
    Kennesaw Cutlery, Smoky Mountain Knife Works, Numrich Gun Parts, Charleys Surplus, Midway USA, Lucky Gunner - never have had problems.
    I also use it to renew magazine subscriptions.

    Of course, being poor helps - even if I got ripped off the most they could ever get would be $200 - $300 dollars.
    "There is nothing so exhilarating as to be shot at without result." Winston Churchill
    "Leave the artillerymen alone, they are an obstinate lot." Napoleon
    Member: VFW, American Legion, Vietnam Veterans of America, Society of the 5th Infantry Division, Sons of the American Revolution.

  8. #7
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    Your debit card can be used as a credit card with the same protections.
    stevekozak likes this.

  9. #8
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    Warning on the Cabela's cards as well...they have a major leak somewhere

    I got a card from Cabela's and used it once...then two months later a charge from Georgia appeared on it for a shoe store....Reported it and it was taken off and card replaced with a new one. When I got the new one and activated it over the phone was told it was already active and a charge for a years worth of netflix was made from Sao Paulo Brazil...That was canceled as well Never been to Brazil....

    Told Cabela's where to shove it


    I do use a debit card but only for grocery shopping and gas stations.

  10. #9
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    The difference as it was explained to me between a debit card and a credit card is as follows.

    The bank will do everything in its power to get your money back that was taken from your account through your debit card.

    The money may have already transferred and withdrawn by the merchant with no escrow held. In that case your screwed.

    With a credit card they do not have access to your bank account and the credit card company collects the money from you when you pay the bill.

  11. #10
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    Quote Originally Posted by Seneca View Post
    In a face to face transaction with a reputable business, I don't think it matters whether a debit or credit card is used. For online purchases then a credit card or service such as PayPal is in my estimation a better/safer way to go. YMMV

    Many credit cards offer incentives. I know people who bought a bought a firearm using points from their Cabalas card.
    It madders you have a long list of protections with a credit card None with a debit. For those with problems secured credit cards are an option. Debit cards are Bad.
    New life as a house husband, major shift in duties.

    Karl Marx said, "Destroy their culture, rewrite their history. Ruin their art and literature, and defame their heroes, by offering fabrications to scandalize that which they considered good.
    After reading this Obama said I am on it.

 

 
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