How useful is the debit and credit card to you in your day to day life?

Answer 1

I never carry, or use, my debit card.
I just carry my credit cards (and racking up my rewards)

The main reason I never carry my debit card is for fear of either losing it or it being stolen.

Debit cards are not covered and I would hate to see that bank account wiped out by theft.
Credit cards are covered and I would only be responsible for $50 due to theft.

edited to add how it is useful, since that was the question lol.
I use my rewards cards for pretty much everything I would normally purchase.
I pay in full either before the statements cut or when I receive the statements.

My credit cards are extremely useful in getting discounts on gas, free or discounted meals, free air fares, free cruises and just plain ole free cash.
Nothing like using their money for free and getting paid to do it.

Answer 2

They're terrific, a huge advantage to me. I carry both. The debit card is the same as cash, without the risk of being robbed, so I use it all the time. The credit card gets frequent flyer miles, so that's valuable, but I have to make sure to pay it off each month, so that I don't pay high interest fees (it does cost $65 a year, but the rewards are worth it, I think). The biggest advantage to a credit card is that I have a harder time renting a car with a debit card. Also, a debit card doesn't build a credit rating, and it's useful to have a credit rating in order to buy bigger things like a car and home.

Answer 3

Hi!
Very important..for several reasons. I feel safer using a checkcard on the internet because they can be cancelled so easily and replaced with normally no charge at all.

I also like my setup @ Netbank with my near zero balance checking acccount connected to that checkcard if surprises happen. 95% of the time there is little or no money in it..and people trying to go in when they are not suppose to..will get nothing but a big flat decline. Woot!

There is a downside, though. Checkcard purchases *MUST* be managed just like checks. I have noticed several stores that did not even put any money on hold in the checking acccount..it just posted (just like a check would) a few days later. They do work just like a credit card does..in that a preauthorization is done at the time of purchase..a hold is put on a certain amount (normally a dollar if you are signing up for a free trial) and then the actual charge comes through..and they get paid..and the hold is removed.

I have had holds fall off (typically 5-7 days)..the money is put back in available...and the post happens a week or so later.
Just be aware this can happen.

Also...checkcards can cause a checking account to go in the negative. Now..this normally does not cause a overdraft fee..but it could with some banks. Always ask or read that ream of paper they give you when you sign up for the account.

WaMu is the first provider I've had that gave me a checkcard with rewards..so I'm likely to use it more than the others to pay bills and whatnot.

I just thought I'd call them and see if my Netbank setup could be duplicated there as well:

Three checking accounts-setup like so:
1-no checks..just a checkcard
2-checks-no checkcard
3-no checks..no checkcard

All deposits are sent to #3..where the money is transferred to 2 and 1 as needed. The accounts are not connected to each other..therefore..things could (in theory) go horribly wrong with one..and not affect the others.

I hate banking surprises.

Netbank does not care about balances to keep accounts open..but activity. It is very important..then..to transfer money in and out..and make purchases and deposits to each several times each month. This is no problem to do at all...and well worth the extra work for the added conveinence and security.

One more thing..HSBC has given me a checkcard with that Paypass wireless tech. I don't like this..and will not carry it around with me..until I'm sure there are no little surprises that come with this new technology.

Answer 4

i would be lost without debit because i never carry cash