[oysterbarron]

Obviously if it makes you feel more comfortable on large purchases fair enough but im talking about just the everyday items like clothes and electronics under £100.

[sivispacem]

Oh, no, the only small purchases I make I put on my company card, things like train tickets, businesses lunches ect. Purely because its much easier to demonstrate expenses, costs and company spending on a credit card.

[lil weasel]

Have a five dollar bill and an expired (closed account) credit card and false Address ID in a wallet to give to robbers, should the need arise.
Never carry cash other than the above.
Use Credit Cards for all purchases for the following reasons.
1. Credit card purchases are insured.
2. Once a Month payoff.
3. Cashback points. (the vendors already have it figured into the cost of sale, so if you pay ca$h you pay more).
4. If it should be stolen the limit of liability is 50$ at most as opposed to ca$h, check, or debit card which is a total lo$$.
5. Fraud protection.

Using a Debit Card is like giving free access to your checking account (and savings if you are using it as overdraft protection). No protection at all.

[finn4life]

QUOTE (lil weasel @ Sunday, Jul 22 2012, 23:38)

Have a five dollar bill and an expired (closed account) credit card and false Address ID in a wallet to give to robbers, should the need arise. Never carry cash other than the above. Use Credit Cards for all purchases for the following reasons. 1. Credit card purchases are insured. 2. Once a Month payoff. 3. Cashback points. (the vendors already have it figured into the cost of sale, so if you pay ca$h you pay more). 4. If it should be stolen the limit of liability is 50$ at most as opposed to ca$h, check, or debit card which is a total lo$$. 5. Fraud protection. Using a Debit Card is like giving free access to your checking account (and savings if you are using it as overdraft protection). No protection at all.

I actually didn't know about the bonuses of a credit card until you guys here mentioned it, it makes more sense now, i however don't really need one at this point, but if situations change and i need to travel around ect ect rent cars yada yada, then this would be quite useful.

Weasel, the fake card trick is good, but don't you think most thieves take your whole wallet? So it's fast, and they don't get caught while someone is trying to get their card out of their wallet... Which is why you need a fake wallet rather than a couple fake cards.

[lil weasel]

QUOTE (finn4life @ Sunday, Jul 22 2012, 12:59)

Which is why you need a fake wallet rather than a couple fake cards.

I guess I was unclear, yes it is a give away wallet.

[trip]

QUOTE (lil weasel @ Sunday, Jul 22 2012, 08:38)

Using a Debit Card is like giving free access to your checking account (and savings if you are using it as overdraft protection). No protection at all.

Not entirely true. A debit card is protected.

My wife has had her debit account stolen twice, and I've had mine stolen once. The bank notices suspicious activities and freezes the account. It takes a couple of weeks for the bank(s) to do their investigation, but in the end you get all of your money back.

The hassle is not having access to your money for a couple of weeks. When mine was compromised I had to actually physically walk into the bank and fill out a withdraw slip - just like the old days.


I have two credit cards, I use them very sparingly and do my best to keep them paid down to a near zero balance.

[lil weasel]

QUOTE (trip @ Sunday, Jul 22 2012, 13:39)

QUOTE (lil weasel @ Sunday, Jul 22 2012, 08:38) Using a Debit Card is like giving free access to your checking account (and savings if you are using it as overdraft protection). No protection at all. Not entirely true. A debit card is protected. [...]

Again, I understated:
Credit Card Loss or Fraudulent Charges (FCBA). Your maximum liability under federal law for unauthorized use of your credit card is $50. If you report the loss before your credit cards are used, the FCBA says the card issuer cannot hold you responsible for any unauthorized charges. If a thief uses your cards before you report them missing, the most you will owe for unauthorized charges is $50 per card. Also, if the loss involves your credit card number, but not the card itself, you have no liability for unauthorized use.
ATM or Debit Card Loss or Fraudulent Transfers (EFTA). Your liability under federal law for unauthorized use of your ATM or debit card depends on how quickly you report the loss. If you report an ATM or debit card missing before it's used without your permission, the EFTA says the card issuer cannot hold you responsible for any unauthorized transfers. If unauthorized use occurs before you report it, your liability under federal law depends on how quickly you report the loss.
For example, if you report the loss within two business days after you realize your card is missing, you will not be responsible for more than $50 for unauthorized use. However, if you don't report the loss within two business days after you discover the loss, you could lose up to $500 because of an unauthorized transfer. You also risk unlimited loss if you fail to report an unauthorized transfer within 60 days after your bank statement containing unauthorized use is mailed to you. That means you could lose all the money in your bank account and the unused portion of your line of credit established for overdrafts. However, for unauthorized transfers involving only your debit card number (not the loss of the card), you are liable only for transfers that occur after 60 days following the mailing of your bank statement containing the unauthorized use and before you report the loss.

[trip]

^^
In all three instances I had the pleasure of being a part of - the bank noticed the unauthorized activity before we did. Thank goodness.

The first time was kind of embarrassing. It was the weekend after payday and we were at the bulk store(BJs) and my [debit] card was declined. Came home called the bank and they told me my account was frozen due to suspicious activity.

If your number is used via the internet it only takes a few minutes for the criminals to empty your account. That might actually help the cause since banks trend people's credit/debit card usage.

[WF the Hobgoblin]

I've never had a credit card. I reckon I'd be pretty responsible with it if I did, but I don't want really want one.
I almost always pay in cash. I only got my first debit card at the beginning of the year when I moved into my own flat and that was only because I had to open a new account in order to make use of direct debit.

[Fnorg]

I use a debit card, but I might get a credit card when I have a job and stable income. I don't want to live beyond my means, but I do like the idea of a better credit rating.

[Tyler]

Having a credit card is incredibly convenient. I don't know if I'd ever switch back to money, despite my paranoia over identity theft. Though, I kind of just wish we carried around nametags with bar-codes on them around our necks that had our credit total on them. Would make things much easier.

[Stefche]

I don't really have a need for a credit card, but my debit card and cash always come in handy. Besides, I always purchase via credit, anyway, so my transactions are always insured.

[Otter]

Sorry, nightwalker, not sure what you're on about.

I'm quite conservative when it comes to my limits; I think anything more than half of what I can make in a month is an absurd indulgence and only asking for trouble.

The main convenience for me is buying stuff online - there's really just no other option than credit.

[Irviding]

I agree with weasel for once. I make all my purchases on my discover. I don't even bring my debit card out of the house unless I need to withdraw cash.

[BabeRuth]

I don't advise using credit/debit cards.

My sister owns like 1000s of dollers to J-C Penneys, because the use of credit/debit cards.

I save up & use cash

[Rebel]

QUOTE (BabeRuth @ Sunday, Jul 22 2012, 19:13)

I don't advise using credit/debit cards. My sister owns like 1000s of dollers to J-C Penneys, because the use of credit/debit cards. I save up & use cash

Then welcome to a world of zero credit rating, which when being an adult can make things very difficult.

People who cannot understand the ways of using a credit card properly - as in being able to pay back what they've spent on it, or not going over the limit just because the credit card company gave you said limit shouldn't be having a credit card in the first place really. Also should look out of offers on the cards like interest free periods.

[BabeRuth]

QUOTE (Rebel @ Sunday, Jul 22 2012, 20:46)

QUOTE (BabeRuth @ Sunday, Jul 22 2012, 19:13) I don't advise using credit/debit cards. My sister owns like 1000s of dollers to J-C Penneys, because the use of credit/debit cards. I save up & use cash Then welcome to a world of zero credit rating, which when being an adult can make things very difficult. People who cannot understand the ways of using a credit card properly - as in being able to pay back what they've spent on it, or not going over the limit just because the credit card company gave you said limit shouldn't be having a credit card in the first place really. Also should look out of offers on the cards like interest free periods.

Thats the thing.....she's so deep/far into debt she can't pay it off.

[Irviding]

Well she was irresponsible, end of story. You need credit cards on your record if you want to get a mortgage, a loan, etc.

[lil weasel]

Proper use of a Credit Card is one way to establish a credit rating.
It's just as easy to say, "What the heck, let's get a <whatever>." and forget the need to payback.

[Oakshaft]

I live by the rule of "If you cant afford it you cant have it"