GO CHECK YOUR DEBIT CARDS NOW!!

[invincible1914]

My friend just had this happen to her after she went through a drive through restaurant to buy fast food. She said the lil girl took too long to give her the card back. The bank called her a couple days later. The lil girl wrote down her info and went on a spending spree online. When it happened to me these were the steps I took.

Call the manager of the establishment and request a refund
File a dispute with your bank and launch an investigation
File a police report if nothing was done

If they had used a credit card. They could report it to them. They will cancel the charges and issue you a new card. It takes less than 5 minutes.

They will also do all of the heavy lifting for you, and no money even left your bank account.

Last year, I left my card at a Burger King rushing to catch a plane. I gave it to the lady and forgot to get it back. I realized it after passed through boarding, so I couldn’t go back. I opened the app saw no purchases. Locked the card. Requested a new card. A couple of days later got the new card. (It was in my home town my mom went up to the store and got the old card for me. Far less stressful than filing a police report and contacting management.

I never even had to talk to a person.

 

[fifth column]

I already answered this - we KNOW that debit card companies make their money off of the ability to invest your money while you store it in their bank. They allow you debit card use as a perk for what they're already getting out of storing your money. If you have money in a bank at all then there's zero drawback to using the debit card.

On the other hand, credit card companies are LOSING money whenever they advance it to you. They are LOSING that ability to make interest. Therefore they make those huge profits by making a lot of money off of their consumers, to the tune of well over $120 billion/year. That's close to $700 per American credit card user per year.




But those people are irrelevant - none of you are going to change your mind based on what @fifth column or I say. We're speaking to the regular-ass people in here, the vast majority of Americans who are lining the credit card companies' pockets. It's very easy to prove that your advice is objectively bad advice for them - the receipts don't lie. You're encouraging them to keep doing the exact same shyt they've been doing that have been costing them money.





The problem is that everyone wants to claim they're the special one it won't happen to.

The # of people who practice perfect fiscal responsibility every month by month, year by year forever is clear. Credit card companies make about $700 per customer per year off of interest and penalties. That's reality. Whereas most of the people in the thread are just offering insults, "Well that wouldn't happen if you didn't suck! Ha ha!", ignoring that their advice obviously fails for the majority of credit card users.

I find it hard to believe that all the expert credit card users in here are so special. They are essentially saying that they are getting over on the credit card company and getting cash back and rewards even though we know that you have to over spend to get rewards and cash back. The cognitive dissonance kicks in when you spend $1000 to get back a $10 reward which sets off the pleasure center in your brain.

 

[seabreeze80]

If they had used a credit card. They could report it to them. They will cancel the charges and issue you a new card. It takes less than 5 minutes.

They will also do all of the heavy lifting for you, and no money even left your bank account.

Last year, I left my card at a Burger King rushing to catch a plane. I gave it to the lady and forgot to get it back. I realized it after passed through boarding, so I couldn’t go back. I opened the app saw no purchases. Locked the card. Requested a new card. A couple of days later got the new card. (It was in my home town my mom went up to the store and got the old card for me. Far less stressful than filing a police report and contacting management.

I never even had to talk to a person.

My charges were refunded and I was sent a new debit card I contact management to let them know about the poor job of their staff. I do the same when I receive bad customer service too.

 

[NatiboyB]

If you get anywhere from 3-5, sometimes 10% cb or rewards on that same purchase why wouldn’t you? People don’t like getting stuff now?

Exactly I use my cards and than pay them off rinse and repeat. I’ve saved far more money doing it like this. I have to spend anyway so why not get extras. Now what I don’t do is manufactured spending or excess spending just to get a bonus. I just swipe the credit card when i purchase something instead of the debit. I only use my debit to take cash out the atm. When I need cash.

 

[invincible1914]

I find it hard to believe that all the expert credit card users in here are so special. They are essentially saying that they are getting over on the credit card company and getting cash back and rewards even though we know that you have to over spend to get rewards and cash back. The cognitive dissonance kicks in when you spend $1000 to get back a $10 reward which sets off the pleasure center in your brain.

You and @Rhakim are really having a hard time with this concept. At least 5 different people have said just do you. But y’all still going in like some MAGA anti-vaxxers.

Is it ok for people to take a different approach without being talked down to?

What’s wrong with getting $10 back as opposed to no money back? I honestly get back around $30 a month in rewards. I know that’s just $360 a year, but it’s cool watching the money stack up. Last year I got some Nest cameras with it.

What’s the deal with y’all though? Why can’t you at least let it go? It’s not like it’s a competition or anything. People are gonna spend how they are gonna spend anyway.

Just have an open mind… If you will do a search, you will see that a lot of people are going credit card only.

 

[bnew]

I find it hard to believe that all the expert credit card users in here are so special. They are essentially saying that they are getting over on the credit card company and getting cash back and rewards even though we know that you have to over spend to get rewards and cash back. The cognitive dissonance kicks in when you spend $1000 to get back a $10 reward which sets off the pleasure center in your brain.

i don't have one but I know there are some 5% cashback credit cards. I've heard of some crazy churning schemes too. people pay rent with credit cards as well.

edit:
i haven't attempted this but i think people use Plastiq - The smart payment platform for managing cash flow to pay with credit cards and get a check sent to the payee or themselves to hand the check over to their landlord or mortgage company.

it has a 2.85% fee .. i think for it to be worth it you'd have to use a 5% cashback card or maybe a points card.

 

[theoretic]

They are essentially saying that they are getting over on the credit card company and getting cash back and rewards even though we know that you have to over spend to get rewards and cash back.

 

[BaldingSoHard]

The cognitive dissonance kicks in when you spend $1000 to get back a $10 reward which sets off the pleasure center in your brain.

I don't know what you think cognitive dissonance is but getting $10 back for spending $1000 is preferable every day to getting $0 back for spending $1000.

 

[Barlow]

i swear this site is so far removed from reality

nikkas arent using their own money now? hilarious

 

[Truefan31]

I find it hard to believe that all the expert credit card users in here are so special. They are essentially saying that they are getting over on the credit card company and getting cash back and rewards even though we know that you have to over spend to get rewards and cash back. The cognitive dissonance kicks in when you spend $1000 to get back a $10 reward which sets off the pleasure center in your brain.

I don’t have to overspend. I still do a budget of my expenses. Just instead of paying with a debit card I pay using a credit card to get the cb. I’m not emotionally spending any more than I did before. But I’ve accrued lots of rewards and cb which I’ve used to invest and make even more. Also, buying things on credit cards can give more protections such as price protections, extended warranty coverage. Rental insurance, even roadside assistance.

credit cards imo are a smart idea when traveling since the fraud protections are so much simpler than a debit card. And yes I’ve had situations with both scenarios, and the credit card was basically seamless while my bank tried giving me the 3rd degree, had to wait on an investigation to clear before I saw the funds back in the account.

 

[fifth column]

You and @Rhakim are really having a hard time with this concept. At least 5 different people have said just do you. But y’all still going in like some MAGA anti-vaxxers.

Is it ok for people to take a different approach without being talked down to?

What’s wrong with getting $10 back as opposed to no money back? I honestly get back around $30 a month in rewards. I know that’s just $360 a year, but it’s cool watching the money stack up. Last year I got some Nest cameras with it.

What’s the deal with y’all though? Why can’t you at least let it go? It’s not like it’s a competition or anything. People are gonna spend how they are gonna spend anyway.

Just have an open mind… If you will do a search, you will see that a lot of people are going credit card only.

I don’t have a problem with it, I’m just skeptical that so many people on here are the exception and not the rule.

 

[DrunkenNovice]

I don’t have a problem with it, I’m just skeptical that so many people on here are the exception and not the rule.

If you started using a CC do you think you’d have trouble living on a budget and PIF every month?

 

[invincible1914]

I don’t have a problem with it, I’m just skeptical that so many people on here are the exception and not the rule.

Actually, that’s not true. There are forums and subreddits based on the idea. Most of them are straight up churning though. They are reason you can’t buy a gift card with a gift card, and you can’t get cash back on gift card purchases.

What we are talking about in here isn’t as extreme. It’s more practical.

With a debit card you can make a basic purchase and it comes directly out of your checking account.

I use my credit card(s) the same way you would use a debit card… the only difference is I have to have to move the money out of my checking account myself by paying the credit card.

This probably would have been a hassle years ago, but with mobile apps it’s dead simple.

There’s more to it than cash back. There are sign up bonuses, travel rewards, airline miles, warranty and fraud protection. Until this year, if you bought a phone with a Capital One card, you automatically get two years of warranty coverage

But the main reason for me is i protect your bank account not just from other people but from myself. I don’t overdraw my account alike I used to.

I didn’t have a zero balance last month and I was charged $2.85 in interest. Overdraft charges are higher than that.

I have much better spending habits now. Before I make a big impulse purchase, I open the app and look at the checking balance first then the credit balance, all in the same app, before doing. In that situation I make the purchase then make the payment as soon as it posts.

I haven’t used a debit card in four years now. It just feels less stressful to me. Even when I go over, I don’t go under if you know what I mean.

 

[The Devil's Advocate]

I don’t have a problem with it, I’m just skeptical that so many people on here are the exception and not the rule.

Bro there’s like 10 people in here


There’s like 200 million people in debt. Of course it’s not the rule. But if people are informing you there is a way to use the rules for you, then stop telling people they are too weak to budget or too reckless to not abuse it.


We supposed to not try anything where there’s a financial risk? Especially one where all the risk is determined by your own ability to not use it if you don’t have the money on you right then. And we wonder why we getting left behind

 

[Originalman]

My charges were refunded and I was sent a new debit card I contact management to let them know about the poor job of their staff. I do the same when I receive bad customer service too.

Yeah I got both. Card hit with a fraud charge they call me instantly and ask if the charge legit or not.

Never had an issue with debit or credit cards. Now a days long as you with a legit bank any funny charges the bank hitting you up instantly on debit charges.

shyt I was in China and India and charged like 30 bucks on my debit card. Bank blocked that shyt in a mili second and deactivated my card. Then sent me a text talking fraud alert (banks don't play with transactions in China and india).