TexasCHLforum.com

Your method isn't 100% safe, but it can limit the damage done by the criminal.

That's the point! No method is 100% safe. The truth is, the bg's can and will steal your info no matter what you do and which services we use to protect ourselves. Life-loc, Credit shields, etc, will not stop the bg. It will only alert us to their activities. We must remain diligent. That's why we carry! The LEO's can't be everywhere so we must fill in the blanks. Watch your statements closely. Use services like Life-loc. I use mint.com to aggregate my account balances and it shows me daily transactions and activity that I can easily view and monitor.

Great thread.

me too!

PBWALKER,

I get rewards on my debit card as well, including airline miles. SACU offers this program through Shoppers Advantage discount Product club. Plus, I get dividends paid to me for having such a large balance. They pay me interest instead of paying them interest.

Not trying to convince you are argue, just sharing info. Discipline is key no matter what.

Without a credit card, how do you reserve hotel rooms? Buy plane tickets? I won't use Debit Cards because of the ridiculous hold they put on the card when you check in...

I do it all the time! I usually reserve my hotel rooms through expedia or something like that. I buy my plane tickets through Southwest Airlines. I rent my cars using rental companies that accept debit cards. I do all this with a debit card only and never have problems.

As far as the holds go, whats the difference between a debit card linked to an account with $10,000 deposited and a credit card with a $10,000 limit? You don't have to make a payment on the debit card! Visa and Mastercard insures the transaction just the same on a Debit run as credit as a credit card. The holds drop off after a few days. It's not a problem for me because, since I don't have any payments, I don't worry about not having any cash to cover the holds

Don't accept the lies the credit card companies feed you to keep you beholden to them.

knotquiteawake wrote:

jayinsat wrote:Although you are correct in saying debit cards are YOUR money, I disagree with your conclusion of using credit cards.

The same safeties exist for using the credit feature of the debit card as the credit card (VISA,MC logo debit cards). True, your money is "at risk", but no more than the credit card. I have had my debit card stolen twice and funds used twice. In both instances, San Antonio Federal Credit Union has returned every cent, same day, and was available to use same day. Had to get a new card, but c'est la vie.

I don't use credit and don't borrow money. I am a Dave Ramsey Kool-Aid drinking, cash only guy. I have an account I use for shopping only and never have to worry about late fees, term changes, annual fees,etc.

Just my 2cents.

I drink the same Kool-Aid brother! Thanks to Dave Ramsey's ideas we are completely debt free (aside from the house). I hope I will never have to have a credit card in my life again.

Same here brother. Been debt free for 5 years. The house is almost paid for too. I actually have money and Christmas brings no stress and a lot of joy through giving.

-- Debit cards are not recommended. If you can qualify for a credit card, you should be using one and paying it off every month. Debit cards are YOUR money at risk of loss (even if you get it back, how many checks bounced or bills were paid late while you were waiting for the refund?), credit cards are THEIR money at risk of loss.

Although you are correct in saying debit cards are YOUR money, I disagree with your conclusion of using credit cards.

The same safeties exist for using the credit feature of the debit card as the credit card (VISA,MC logo debit cards). True, your money is "at risk", but no more than the credit card. I have had my debit card stolen twice and funds used twice. In both instances, San Antonio Federal Credit Union has returned every cent, same day, and was available to use same day. Had to get a new card, but c'est la vie.

I don't use credit and don't borrow money. I am a Dave Ramsey Kool-Aid drinking, cash only guy. I have an account I use for shopping only and never have to worry about late fees, term changes, annual fees,etc.

Just my 2cents.