debit card / credit card

[powerboatr]

Never use a debit card, ever.
My ATM card has a debit charge limit of $0.00. A call to your bank or mine let's me set this limit online, separately from my ATM limit.
Always tap to pay, when possible.

Our fraud on credit cards dropped hugely once daughter graduated college and stopped swiping the card at gas stations in college town.

never thought about that. we use the debit alot because the 3% is not charged to the bank
but i think a re think is in order


as a good note, today i had to get gas for my wifes car, i met a guy at motel 6, sold my kidney.
then used my credit visa card to pay for the fuel. the machine asked for my zip code only, no pin. and i really looked at the security strip on the reader and wiggled it to make sure it was attached , probably did nothing, but it made me feel better
we are going to try this for 30 days and see how it goes, we cary zero bal on the visa, and if we pay the balance before the posting date there is no interest.

i have to read about tap to pay?
my wife is still severely upset she feels like she did something because it happened 2 times now since apr.
she shops more than me so odds are not in her favor.

although the last month i have done most of grocery runs as i have to run to doc every monday, saves us gas

[RoyGBiv]

Never use a debit card, ever.
My ATM card has a debit charge limit of $0.00. A call to your bank or mine let's me set this limit online, separately from my ATM limit.
Always tap to pay, when possible.

Our fraud on credit cards dropped hugely once daughter graduated college and stopped swiping the card at gas stations in college town.

never thought about that. we use the debit alot because the 3% is not charged to the bank
but i think a re think is in order


as a good note, today i had to get gas for my wifes car, i met a guy at motel 6, sold my kidney.
then used my credit visa card to pay for the fuel. the machine asked for my zip code only, no pin. and i really looked at the security strip on the reader and wiggled it to make sure it was attached , probably did nothing, but it made me feel better
we are going to try this for 30 days and see how it goes, we cary zero bal on the visa, and if we pay the balance before the posting date there is no interest.

i have to read about tap to pay?
my wife is still severely upset she feels like she did something because it happened 2 times now since apr.
she shops more than me so odds are not in her favor.

although the last month i have done most of grocery runs as i have to run to doc every monday, saves us gas

To clarify a few things....

- The CC fee is charged to the merchant.... Typically, a merchant pays about 3% of the sale, plus a swipe fee of ~$0.25 - 0.35 per transaction. If you use a debit card, the merchant pays the same, or maybe a slightly lower fee. My businesses that take credit/debit cards pay these fees. There are ways of reducing them, but, that's for another thread.

- The best thing about CREDIT cards is that the money doesn't disappear from my account when I purchase something. I get a loan from the CC vendor until the payment is due, roughly, on average, 40 days from the purchase date. (30 day cycle + 25 days to pay after cycle closes).

- Paying your balance in full is wisdom. Interest on credit cards is some of the highest interest you'll ever pay. Lots of folks use debit cards to avoid spending money they don't have... While this is a wise intention, it's safer to keep track of your CC spend, use your line of credit wisely, and pay it off at the end of every cycle. This safeguards your bank account and minimizes the CC companys' profits since you use their money and never pay interest.

- I certainly try to avoid using my CC in sketchy places, BUT.... Every swipe goes through the "Gateway" assigned to the merchants account. The gateway analyzes the credit request and approves/denies the request on the spot, in seconds. This happens every time you use your card. Once the Gateway comes back with an approval, the merchant is off the hook for fraud and so are you.... If the gateway approves a charge from someone who isn't you, the merchant gets paid and all you need to do is call the CC company and report the fraud. They will take the charge off you account, investigate it, or not, and stop your card and issue a new number. No cash moves out of your bank account. Winning!

- There is absolutely NOTHING to be embarrassed about when your CC gets hit with fraud. It happens to everyone. The CC companies factor it into their fees. Using a CC let you keep the cash in your account, instead of having to ask the Debit card company for a reimbursement.

Cheers.

[powerboatr]

Never use a debit card, ever.
My ATM card has a debit charge limit of $0.00. A call to your bank or mine let's me set this limit online, separately from my ATM limit.
Always tap to pay, when possible.

Our fraud on credit cards dropped hugely once daughter graduated college and stopped swiping the card at gas stations in college town.

never thought about that. we use the debit alot because the 3% is not charged to the bank
but i think a re think is in order


as a good note, today i had to get gas for my wifes car, i met a guy at motel 6, sold my kidney.
then used my credit visa card to pay for the fuel. the machine asked for my zip code only, no pin. and i really looked at the security strip on the reader and wiggled it to make sure it was attached , probably did nothing, but it made me feel better
we are going to try this for 30 days and see how it goes, we cary zero bal on the visa, and if we pay the balance before the posting date there is no interest.

i have to read about tap to pay?
my wife is still severely upset she feels like she did something because it happened 2 times now since apr.
she shops more than me so odds are not in her favor.

although the last month i have done most of grocery runs as i have to run to doc every monday, saves us gas

To clarify a few things....

- The CC fee is charged to the merchant.... Typically, a merchant pays about 3% of the sale, plus a swipe fee of ~$0.25 - 0.35 per transaction. If you use a debit card, the merchant pays the same, or maybe a slightly lower fee. My businesses that take credit/debit cards pay these fees. There are ways of reducing them, but, that's for another thread.

- The best thing about CREDIT cards is that the money doesn't disappear from my account when I purchase something. I get a loan from the CC vendor until the payment is due, roughly, on average, 40 days from the purchase date. (30 day cycle + 25 days to pay after cycle closes).

- Paying your balance in full is wisdom. Interest on credit cards is some of the highest interest you'll ever pay. Lots of folks use debit cards to avoid spending money they don't have... While this is a wise intention, it's safer to keep track of your CC spend, use your line of credit wisely, and pay it off at the end of every cycle. This safeguards your bank account and minimizes the CC companys' profits since you use their money and never pay interest.

- I certainly try to avoid using my CC in sketchy places, BUT.... Every swipe goes through the "Gateway" assigned to the merchants account. The gateway analyzes the credit request and approves/denies the request on the spot, in seconds. This happens every time you use your card. Once the Gateway comes back with an approval, the merchant is off the hook for fraud and so are you.... If the gateway approves a charge from someone who isn't you, the merchant gets paid and all you need to do is call the CC company and report the fraud. They will take the charge off you account, investigate it, or not, and stop your card and issue a new number. No cash moves out of your bank account. Winning!

- There is absolutely NOTHING to be embarrassed about when your CC gets hit with fraud. It happens to everyone. The CC companies factor it into their fees. Using a CC let you keep the cash in your account, instead of having to ask the Debit card company for a reimbursement.

Cheers.

that has to be the best no pressure wisdom i have read today
i never thought about the use of the credit card that it does not pay right away. who knew? I should have
we use or debit as cash almost 100% of the time. and yes it comes out the checking account pretty fast, and i or my wife log receipts in my check register within 24 hrs so we know exactly what we have in the checking account.

i used the credit for gas this morning, something i never do. i just carry it for emergencies. but after this last round of fraud we are doing it different. all gas is on credit card and all purchases on the debit card will now be used as credit vice entering a pin. we are going to see how july rolls out.
thank you for the very laid back wisdom on me.

[RoyGBiv]

Never use a debit card, ever.
My ATM card has a debit charge limit of $0.00. A call to your bank or mine let's me set this limit online, separately from my ATM limit.
Always tap to pay, when possible.

Our fraud on credit cards dropped hugely once daughter graduated college and stopped swiping the card at gas stations in college town.

never thought about that. we use the debit alot because the 3% is not charged to the bank
but i think a re think is in order


as a good note, today i had to get gas for my wifes car, i met a guy at motel 6, sold my kidney.
then used my credit visa card to pay for the fuel. the machine asked for my zip code only, no pin. and i really looked at the security strip on the reader and wiggled it to make sure it was attached , probably did nothing, but it made me feel better
we are going to try this for 30 days and see how it goes, we cary zero bal on the visa, and if we pay the balance before the posting date there is no interest.

i have to read about tap to pay?
my wife is still severely upset she feels like she did something because it happened 2 times now since apr.
she shops more than me so odds are not in her favor.

although the last month i have done most of grocery runs as i have to run to doc every monday, saves us gas

To clarify a few things....

- The CC fee is charged to the merchant.... Typically, a merchant pays about 3% of the sale, plus a swipe fee of ~$0.25 - 0.35 per transaction. If you use a debit card, the merchant pays the same, or maybe a slightly lower fee. My businesses that take credit/debit cards pay these fees. There are ways of reducing them, but, that's for another thread.

- The best thing about CREDIT cards is that the money doesn't disappear from my account when I purchase something. I get a loan from the CC vendor until the payment is due, roughly, on average, 40 days from the purchase date. (30 day cycle + 25 days to pay after cycle closes).

- Paying your balance in full is wisdom. Interest on credit cards is some of the highest interest you'll ever pay. Lots of folks use debit cards to avoid spending money they don't have... While this is a wise intention, it's safer to keep track of your CC spend, use your line of credit wisely, and pay it off at the end of every cycle. This safeguards your bank account and minimizes the CC companys' profits since you use their money and never pay interest.

- I certainly try to avoid using my CC in sketchy places, BUT.... Every swipe goes through the "Gateway" assigned to the merchants account. The gateway analyzes the credit request and approves/denies the request on the spot, in seconds. This happens every time you use your card. Once the Gateway comes back with an approval, the merchant is off the hook for fraud and so are you.... If the gateway approves a charge from someone who isn't you, the merchant gets paid and all you need to do is call the CC company and report the fraud. They will take the charge off you account, investigate it, or not, and stop your card and issue a new number. No cash moves out of your bank account. Winning!

- There is absolutely NOTHING to be embarrassed about when your CC gets hit with fraud. It happens to everyone. The CC companies factor it into their fees. Using a CC let you keep the cash in your account, instead of having to ask the Debit card company for a reimbursement.

Cheers.

that has to be the best no pressure wisdom i have read today
i never thought about the use of the credit card that it does not pay right away. who knew? I should have
we use or debit as cash almost 100% of the time. and yes it comes out the checking account pretty fast, and i or my wife log receipts in my check register within 24 hrs so we know exactly what we have in the checking account.

i used the credit for gas this morning, something i never do. i just carry it for emergencies. but after this last round of fraud we are doing it different. all gas is on credit card and all purchases on the debit card will now be used as credit vice entering a pin. we are going to see how july rolls out.
thank you for the very laid back wisdom on me.

Happy to be of assistance.

Next-level CC advice....
My favorite CC providers are those that have a different card number for each card on the account. Me, Wife, Kid1, Kid2 each have different numbers, billed to the same account. They also let me have an "extra" card..... with a different number.

I use this "extra" card for all my auto-pay bills. Mobile phone, water bill, electric, etc. These vendors are almost never a source for fraud. If one of our cards gets hacked, we're able to cancel and re-issue that unique card number only. The others keep working. The biggest pain with any cards, credit or debit, is that if you get hacked, you need to figure out all of your auto-pay vendors and update your card number with them... I always forgot to update my toll-tag until the airport gate didn't open for me.

Cheers.

[powerboatr]

yup all of our cards even on same accounts have different numbers.

thanks

[der Teufel]

Not directly related to the primary issue of this thread, but when my Spousal Unit and I travel, we carry one or two "common" credit cards that we plan to use for most purchases. We each also carry a separate, unique card that the other doesn't carry. If a wallet gets stolen and we have to cancel all the cards in that wallet suddenly, we have at least one card that the spouse was carrying that wasn't compromised.

[mayor]

Not directly related to the primary issue of this thread, but when my Spousal Unit and I travel, we carry one or two "common" credit cards that we plan to use for most purchases. We each also carry a separate, unique card that the other doesn't carry. If a wallet gets stolen and we have to cancel all the cards in that wallet suddenly, we have at least one card that the spouse was carrying that wasn't compromised.

Good ideas.

[oohrah]

If you use Apple Wallet, your CC number is never revealed to the vendor.

[jmorris]

If you want to use your card to do tap to pay it must have the wireless symbol on it, otherwise you'll have to use your phones wallet, be it Apple, Google, etc.

None of my cards are tap to pay.

[powerboatr]

not sure how well i would trust my phone
android or apple


been using the credit card solely for almost a week now.
still waiting on my money back.

[powerboatr]

this morning my dollars were refunded back into my account, we are very happy. I see a new 1911 in my future as i already expensed these funds in my check book, and moved on. windfall right sorry i just had to get a smile after this crap show

both the fraudulent charges and one non fraud.
now i have to call my chiropractor and pay my deductible again i gave them a heads up last week, so hopefully he doesn't hurt me on the rack next week

[RoyGBiv]

this morning my dollars were refunded back into my account, we are very happy. I see a new 1911 in my future as i already expensed these funds in my check book, and moved on. windfall right sorry i just had to get a smile after this crap show

both the fraudulent charges and one non fraud.
now i have to call my chiropractor and pay my deductible again i gave them a heads up last week, so hopefully he doesn't hurt me on the rack next week

Happy ending. Glad it got sorted and didn't take too long.

[powerboatr]

update...yup 29 july
this could be a Public information item

on 18 july the thieves struck again on my wifes dedit card with AT&T..not that they got her new card number or pin or anything like that...nope
it was VISA and i am sure all credit card companies effort to make customer experience better and life easier.

the 1st hack of my wifes card resulted in a card number being ON file at AT&T online payment site. BUT wait we got a new card with new numbers, expiration dates and three digit code. and we dont have an AT&T account, sooooooooo

when the thieve used her account to pay their at&t account, the system logged it as a recurring payment or auto pay. but WAIT we have a new card with new numbers? how could it be hit again at the same PLACE????

apparently in the user agreement in visa and others there is a clause that they will ....as a convenience to customers that have cards on file with places that do auto pay etc. VISA will automatically send the NEW card info to those vendors to make sure your AUTO payments are not interrupted...you know because people are so busy they cant be bothered with updating credit card info at auto pay accounts or recurring accounts.

The fraud investigator at my bank told me about it and UNCHECKED the box with visa to auto send new card data to anyone. he told me, mos tpeople are completely unaware of this built in feature

of course i asked WHY WAS THIS FEATURE EVER TURNED ON and why didnt they turn it off at the 1st hit on her card?

so lesson here call you card companies and demand they remove any auto update features they may have in place, because we are adults and can update cards on websites as we see fit if at all.

today we got our 3rd set of new debit cards.... and guess what? the numbers are not ever close to the old ones and came with the magic wave you card thing to pay with no pin, or touching

[chasfm11]

apparently in the user agreement in visa and others there is a clause that they will ....as a convenience to customers that have cards on file with places that do auto pay etc. VISA will automatically send the NEW card info to those vendors to make sure your AUTO payments are not interrupted...you know because people are so busy they cant be bothered with updating credit card info at auto pay accounts or recurring accounts.

This but one of the reasons that I only agree to auto-pay after I've been dragged there, kicking and screaming. I have just been through a mess where the bank failed to send a renewal card or the post office lost it (jury is still out) and I had to go through the agony of updating my account information with every vendor who has a credit card on file for me with a different card. Only one of them can auto-charge. The others (like Amazon) have to have my specific request to charge on a transaction.

I'm going to call my issuing bank today to make sure that they don't have the auto-update "feature" active on my account. Thanks for the tip.

[powerboatr]

apparently in the user agreement in visa and others there is a clause that they will ....as a convenience to customers that have cards on file with places that do auto pay etc. VISA will automatically send the NEW card info to those vendors to make sure your AUTO payments are not interrupted...you know because people are so busy they cant be bothered with updating credit card info at auto pay accounts or recurring accounts.

This but one of the reasons that I only agree to auto-pay after I've been dragged there, kicking and screaming. I have just been through a mess where the bank failed to send a renewal card or the post office lost it (jury is still out) and I had to go through the agony of updating my account information with every vendor who has a credit card on file for me with a different card. Only one of them can auto-charge. The others (like Amazon) have to have my specific request to charge on a transaction.

I'm going to call my issuing bank today to make sure that they don't have the auto-update "feature" active on my account. Thanks for the tip.

we never had any auto pay set ups..ever.
that is what struck me so odd when the investigator told me how it worked. i didnt find it funny how AT&T was able to bill again thanks to visa.
funny thing is we have only used the credit card the last month for everything and spent less than we normally do each month. not that that is an endorsement to use the credit card.
we still run it at zero balance end of each month.