Which do you prefer? Debit or Credit Card?

[ChicagoBlue2]

Then why are you blaming your bank for getting it? They don't have anything to do with it. Well learnings good

I didn't say I was, but had I not checked the letter, I would've done so.

 

[ChicagoBlue2]

If you pay off each month on that credit card, you won't be paying a penny on interest charge.

That's probably true, but I'm not tempted to start a credit account now, after having good credit for so long, and I'd like to keep it that way.

 

[Tousi]

I don't see how we compare
the two in your question because they are different. Basically, on one of them you owe money and the other is how much you have in your checking account.

 

[ChicagoBlue2]

I don't see how we compare
the two in your question because they rate different. Basically, on one of them you owe money and the other is how much you have in your checking account.

That wasn't the intention here. I wanted to know which card you preferred, and it seems that some of those that have answered so far prefer debit cards, but then we ended up discussing a whole new line of credit cards, which one can apparently use as a debit card, as well, so that was new to me, and I learned something new. Now, don't particularly care for credit cards, and speaking of which, isn't there a law against offering credit cards to those who don't wish to have one? For future reference, that is.

 

[ambrosia]

That wasn't the intention here. I wanted to know which card you preferred, and it seems that some of those that have answered so far prefer debit cards, but then we ended up discussing a whole new line of credit cards, which one can apparently use as a debit card, as well, so that was new to me, and I learned something new. Now, don't particularly care for credit cards, and speaking of which, isn't there a law against offering credit cards to those who don't wish to have one? For future reference, that is.

No there's no law against it but you can 'opt out'. Google it, you probably register for it. I've never bothered and I'm on my phone so I can't post links.

 

[Tousi]

That wasn't the intention here. I wanted to know which card you preferred, and it seems that some of those that have answered so far prefer debit cards, but then we ended up discussing a whole new line of credit cards, which one can apparently use as a debit card, as well, so that was new to me, and I learned something new. Now, don't particularly care for credit cards, and speaking of which, isn't there a law against offering credit cards to those who don't wish to have one? For future reference, that is.

Well, since I have both, I have them for two very different and hopefully, obvious reasons.

 

[ChicagoBlue2]

No there's no law against it but you can 'opt out'. Google it, you probably register for it. I've never bothered and I'm on my phone so I can't post links.

That's all right. I'm on my tablet, which has Google Chrome on it, and is quite handy. I'll do some research and figure out how to opt out.

 

[dereksbicycles]

I'm with Chase too myself. I get more than my share of credit card offers and they have nothing to do with Chase. I just tear the paper up and recycle it.

I do have an ATM card that I use if I need to get money out.

 

[ChicagoBlue2]

I'm with Chase too myself. I get more than my share of credit card offers and they have nothing to do with Chase. I just tear the paper up and recycle it.

I do have an ATM card that I use if I need to get money out.

Yeah, but how many people do you know have credit over 800? Not many, I would assume?

I, too, have an ATM card, as well.

 

[dereksbicycles]

Yeah, but how many people do you know have credit over 800? Not many, I would assume?

I, too, have an ATM card, as well.

I don't know anyone's credit score. I don't even know if they pay with credit or debit if they ever pick up the tab. I never ask.

 

[ChicagoBlue2]

I don't know anyone's credit score. I don't even know if they pay with credit or debit if they ever pick up the tab. I never ask.

Neither do I. Oh well. I'm just trying to point out that because I have good credit, I'm likely to see more of these junk mail offers come in.

 

[Angel1989]

Yeah, but how many people do you know have credit over 800? Not many, I would assume?

I, too, have an ATM card, as well.[/

You need to have established credit to purchase a home. Sometimes being debt free and not having credit is a bad idea. If we make a large purchase like a new fridge, we charge it and pay it off when the bill comes. That wat our money gets the interest for that month not the bank.

 

[ChicagoBlue2]

Yeah, but how many people do you know have credit over 800? Not many, I would assume?

I, too, have an ATM card, as well.[/

You need to have established credit to purchase a home. Sometimes being debt free and not having credit is a bad idea. If we make a large purchase like a new fridge, we charge it and pay it off when the bill comes. That wat our money gets the interest for that month not the bank.

I don't own a home; I rent. Easier that way.

 

[dereksbicycles]

Neither do I. Oh well. I'm just trying to point out that because I have good credit, I'm likely to see more of these junk mail offers come in.

I don't think that credit card scores have anything to do with getting credit offers in mail. Then again, I may be wrong. Usually credit companies are happy when anyone is willing to use them. It is more likely that people will have below 800 than over 800. Therefore, if a credit card is going to be picky, they would probably lose money.

 

[ChicagoBlue2]

​

I don't think that credit card scores have anything to do with getting credit offers in mail. Then again, I may be wrong. Usually credit companies are happy when anyone is willing to use them. It is more likely that people will have below 800 than over 800. Therefore, if a credit card is going to be picky, they would probably lose money.

That's probably true-- didn't think of that. Only reason mine is so high is because I'm careful enough to pay my bills on time, and to also watch my bank account, as well.

 

[ambrosia]

​

That's probably true-- didn't think of that. Only reason mine is so high is because I'm careful enough to pay my bills on time, and to also watch my bank account, as well.

Pay utility bills and rent won't do anything for your credit. I know they played with idea of reporting non and late payment but I don't know if that went anywhere.

To build credit, have a good credit score you have to actually HAVE credit. Somebody let you use their money and you paid it back. A loan of some kind or a credit card. It's not like everybody starts off with 800 and you down from there. It doesn't work like that.

 

[diehardbiker]

Lose money? Didn't you know they raked millions and billions of dollars off from interest profit, isn't that a money losing? Better think again.

If you want save money, sure banks pays you less than 1% APR, but when it comes to credit, average is 20% or something like that, tell me how bank is losing money when they are picky?

Therefore, if a credit card is going to be picky, they would probably lose money.

 

[dereksbicycles]

Lose money? Didn't you know they raked millions and billions of dollars off from interest profit, isn't that a money losing? Better think again.

If you want save money, sure banks pays you less than 1% APR, but when it comes to credit, average is 20% or something like that, tell me how bank is losing money when they are picky?

I was just saying that if every one paid their credit bill on time, then bank would lose money. However, most of people don't pay their bill at time. Bank makes a lot of money off them. If I was to give credit card to everyone who paid their bill on time, I won't be able to charge anyone late fees. That is why smart banks and credit card companies would try to get people with lower credit to sign up.

 

[diehardbiker]

Really bank don't lose money on those who pays in full each month. Remember earlier, why retailers don't like take credit card, prefers debit instead? That is because when one use credit, retailer is required to pay fee to the credit card companies. Usually around 2.7% per transaction.

Remember you mentioned you don't like people pay you via paypal, why is that? Same reason with CC.

I was just saying that if every one paid their credit bill on time, then bank would lose money. However, most of people don't pay their bill at time. Bank makes a lot of money off them. If I was to give credit card to everyone who paid their bill on time, I won't be able to charge anyone late fees. That is why smart banks and credit card companies would try to get people with lower credit to sign up.

 

[dereksbicycles]

Really bank don't lose money on those who pays in full each month. Remember earlier, why retailers don't like take credit card, prefers debit instead? That is because when one use credit, retailer is required to pay fee to the credit card companies. Usually around 2.7% per transaction.

Remember you mentioned you don't like people pay you via paypal, why is that? Same reason with CC.

Yeah, I remember making a post about Pay Pal awhile ago. It was so long time ago.

I can see how having retailers in business help credit companies a lot.