Comments on: Plastic Wars:Credit vs Debit

By: E Cig

E Cig — Mon, 22 Feb 2010 05:14:48 +0000

Being in debt is the American Nightmare.

Your girl Mary

By: Steve K

Steve K — Sun, 17 Jan 2010 06:26:11 +0000

I am trying hard to pay off my credit cards to buy a house it is not a easy task.I have save like $140 switching over to E-Liquid that money can go to getting me out of debt

By: Eric

Eric — Tue, 06 Oct 2009 23:02:24 +0000

Why don’t you just add your checking account/debit card to Mint also, so that you can track your full financial picture?

Then it doesn’t matter which card you use to purchase, outside of the reasons set forth in the article.

1 like

By: Downtoearthguy

Downtoearthguy — Fri, 02 Oct 2009 18:13:03 +0000

Cash is king, baby. If you at all care about any of the businesses you’re patronizing, specifically small businesses, you are killing them every time you use a credit card or debit card, even though credit is worse. Who do you think is paying for those miles and great gifts — it comes off the back of those businesses. One percent, 2%, 3% is the difference between whether or not your neighborhood cleaners or garden center survives. They’re the ones who pay, and they ultimately have to drive the price higher to cover your fees. Think about that next time you see those Visa commercials making someone look like an idiot for using cash… It’s all manipulation by the advertisers.

I do my budget and give myself a cash allowance every week. It forces me to spend on whatever I want within those limits, it keeps me out of debt, and it helps local merchants at the same time. Cash is king for a reason…

2 likes

By: Nancy Sharp

Nancy Sharp — Sat, 12 Sep 2009 02:25:42 +0000

I think credit cards always offer more protection.
Increase Metabolism

By: nascaraddict

nascaraddict — Fri, 21 Aug 2009 02:49:13 +0000

Here’s the biggest reason that credit cards are the one to use!
It’s all about the potential liability. Legally, your ultimate liability for fraudulent use of a credit card is generally only $50.
Debit cards can hook you for $500 and that’s if you report it within 48 hours. The problem also could be a drained bank account then bounced charges there after.

Here’s a great article on this subject of liability:

http://www.pirg.org/consumer/banks/debit/debitcards1.htm

1 like

By: John E

John E — Thu, 20 Aug 2009 20:56:10 +0000

Considering nearly all checking and savings accounts interests rates do not even come close to keeping up with inflation, that argument doesn’t really make much sense. I prefer to spend money I have rather than money I don’t or could possibly not at the end of the month. Debit cards are the way to go. Cash is better.

By: cashless money

cashless money — Sat, 08 Aug 2009 22:11:08 +0000

Person to person money transfers with a PIN secured debit card is the key the future and has many benefits.

By: Edward

Edward — Mon, 06 Jul 2009 13:24:45 +0000

What it all boils down too is..
join a credit union..you dont have all this to contend with.
I am a member of the Postal Credit Union through My sister who is now retired with the postal service.
My interest rates have not changed and the monthly newsletter promises this very thing.
Check with your credit union(s) that are available to the public…you might be pleasantly surprised when you transfer those high interest balances to one of their cards or better yet..take out one of their loans they offer to pay those high cards off and cut up the card(s) dont use them..except maybe 2 small purchases a year to keep them active.Just dont close your account(s)..those accounts help your available credit scores with the three major credit reporting agencies in good standing. What may seem it would take an “expensive debt advisor” will only save you money again in the long run.

By: Doug

Doug — Sun, 05 Jul 2009 02:53:38 +0000

I don’t like signature debit or credit cards. They both end up costing the consumer in the end. The banks take a percentage of every purchase you make from the merchant. The merchant must make this up by charging the consumer more for their products. You get your 1% back at a cost of 4%. It doesn’t make much sense to me. I use a pin-only debit. It’s a lot less expensive to the merchant which saves consumers money. It is also more secure because a thief must have your card and your pin to use it. Most times merchants don’t bother checking the signature on the back of your signature debit card. This means thieves can steal with a card swipe and no pin entry. Stop giving up your hard earned money to the banks. Anything that costs the merchant money costs you money.