@Harry Havens My bank is more reasonable, then. Their ATM, no fee, period. My wife did talk me into getting the Wal-Mart card. Now we have "plenty too many"! Frank
I have known people whose accounts were cleaned out by someone fraudulently using their debit card, but I think credit cards are safer. They also offer the opportunity to accumulate reward points, cash back, etc., but you must pay them off in full monthly (or near monthly) to make the points or rebates worthwhile. Many people here including businesses, use the Alaska Airlines Credit Card to generate free travel and put all the bills they can through the credit card and make one payment at the end of the month to pay all their bills at one swoop. These are conscientious people to watch their finances closely and never carry a balance.
I was issued both a credit and a debit card. No problems ever with the debit card, i.e. no fees as long as it is used with ATMs belonging to the bank or to the affiliated cash pool of partner banks. Some credit cards work like a credit card although they are also linked to your current/checking account. Real credit cards, i.e., those that you balance at the end of the month incur fees, use a different account and are only useful for travelling or for paying for something bought online. In Germany a lot of retailers don't accept or don't like credit cards because they have to pay 3% of the price to the credit card company. That's why I stopped using them completely and the bank recalled it because there were no transactions. @Frank Sanoica Yes, credit cards get often copied in restaurants or elsewhere when you hand it out and the person can disappear with it and you can't see what they do with your card. That's why it's recommended that you always keep an eye on it. Easier said than done, I know... The other things that happened to you are really scary.
No, at least not over here because the thief would still need your PIN code without which they wouldn't get a cent. Different with a credit card, though, where only a signature is needed which can be faked more easily and they can get away with it because it is not carefully checked at the checkout.
I'm not so sure. I get money back if I use my debit card as a credit card, so that's what I generally do. Used as a credit card, there's no need for a PIN code.
Possibly, Ken, but it seems to depend on the functionality a given debit card has. I can't use my debit card as a credit card and whatever I do with the card such as paying at the checkout or withdrawing cash requires a PIN.
In the instances that I know about where the debit card was used to empty an account, it was believed that the pin was stolen by an accomplice with a long distance lens.
I use my credit card for everything I possible can. I only keep a few dollars on me just in case I happen to be at some remote place where they don't take credit cards. So far, that hasn't happened. I get cash back for every dollar I spend on the credit card. I pay it off every month. So, in effect, they are paying me to use their money. I like that.
@Thomas Stearn Some vendor's machines ask "debit or credit" upon insertion of the card. I asked a clerk how can my debit card be used as a credit card. She replied that if I clicked credit, the issuer would cover the transaction as a credit transaction, not debiting my checking account. Not all machines do this. Further, many nowadays, especially gasoline pump card readers ask for "Zip Code", no other identifier. My debit card used at my own bank's ATM asks for the PIN #; nowhere else is a PIN # asked for, either using the debit or credit card......confused? I am. Frank EDIT: Which brings to question how do the "snowbirds", say, from Canada, staying here for 6 months or so at a time, respond to "Zip Code"? Can the U.S. system also be accessing the Canadian credit system, looking at mailing addresses? And, what about those here from Europe, renting cars, driving to the Grand Canyon, for example?
Just used the debit card first time today to buy gas. No problems. I have another question about the ATMs. Most of the drive up ones have the name of a bank on them. If the bank is different from your bank, can you still use them?
You should be able to, yes, although most of them outside of your own bank branches may charge a fee.
@Nancy Hart Answered by Ken. I'll add that my DEBIT card when inserted as such in either another bank's ATM, or a gasoline dispenser, often indicates a fee may be charged. No fee anywhere, however, when using the CREDIT card. Frank
Yes, you can get confused easily but that's the name of the game, isn't it? There are many different business models which are tailored to individual needs. Similar with cell phone tariffs, all offered to make comparing them as difficult as possible. As far as I know any real credit card of major suppliers can be used the world over because that's what they promise to do: to enable you to make payments worldwide. ZIP code authentication seems to be used by special credit cards whose acceptance is somewhat limited regionally or otherwise. As a European traveller you'd have to watch out for the logo of your credit card issuer (e.g. Visa) before trying to make a purchase. In your case that particular service could possibly not be used by them if that's the only way of authentication offered.
Times have changed. Reminds me of my first, and only, trip overseas, to India back in the 1990's. I did not have a credit card. On TV they advertised that American Express was the only card that was honored worldwide, so I got one of those. Almost no place in India would accept American Express. Every place wanted MasterCard, only. Lucky I took a lot of cash and a bunch of travelers checks, but getting travelers checks converted to cash was a nightmare there.
Using a debit card at a gas pump can cause minor problems if you don't keep a large balance in the account linked to the card as the pumps for some reason debit your account for more than the purchase, usually in amounts of $100. Here, if you buy $80 worth of gas, your account is debited $100, and I think if you buy $120, it debits $200. I don't know why that is, but the money gets refunded on the next "business day". If you debit other places or write a check on that account, it can cause overdraft fees to kick in if the account has not yet reconciled. That is why I never use a debit card to purchase gasoline. The Zip Code request on credit card purchases at a pump is something that is read off the card and is an attempt to verify that the card is not stolen. It may also work with Canadian Postal Codes if only the numbers are used, but I don't know that. When I traveled in the 1970s, American Express was a big thing in international travel, but slowly went into disuse as MasterCard and Visa became more widespread. Fifty years ago when I needed a credit card, I applied to both MasterCard and Visa. MasterCard turned me down, but Visa gave me a card. I have carried only Visa cards for all the years since then, and have refused all Master Card offers. My Cabela's Visa is being converted to MasterCard since Bass Pro Shop acquired Cabela's, so that card and account will go away. It is one of my only prejudices, and proof that I hold grudges for a long time....