Visa Debit

[jtfrogger]

Originally Posted by Temporary_User

There is essentially no security in debit cards.
3 months ago I had my debit card stolen ~$1000 withdrawn, and I am still fighting to see a cent of that back.

To me, that is the #1 reason to use a credit card over a debit card. I have had my credit card hit for $800 before. The bank called me to verify the charge, since it was suspicious. It wasn't mine, so they removed the charge. They had to cancel the card, but I got a new one in the mail about a week later. Seeing that I have a couple of cards, and so does my wife (same accounts but different numbers), it was not really any inconvenience.

You lose money with your debit card, have fun trying to get it back. You may eventually get it back, but it isn't an easy process. And if you needed to have that money to live off, too bad for you.

On top of the security, you get added benefits that you don't get out of debit cards. I get 2% back in cash on my purchases on my credit card. You also get added insurance on travel and certain purchases.

[bomber317]

I try to use my credit card all the time, mostly for the cash back and the protection from fraud. My CC company has called me anytime a suspicious transaction has occurred.

I do not carry a balance, so my CC is just another tool for me to use.

Another nice thing about CC over a debit card is I don't get charged for transactions fees if I use it X times in a month.

[nickerjones]

Originally Posted by Ice

I want an iPhone app where I can sweep my phone past a pay terminal like my debit card and have the money come out of my account. In fact, I'd like an iPhone drivers license app and anything else that would make it possible for me to go out with out my purse.

Didnt I read somewhere like in Europe or Japan they use their phones to pay for stuff ( your example) like buses etc?? Or Maybe I was dreaming?>

[redforever]

Originally Posted by Antithesis

I use my credit card for everything, if I can take the time to put in my PIN and do the debit thing, I can put it on my credit card. Two main reasons why:

1. I pay off the full balance every month so I collect the rewards from my card and get a little extra benefit
2. Added security (if someone skims it, I'm more protected)

Absolutely, I do the same thing.

I would add a third point to why I use my credit card almost exclusively.

I hate carrying around large amounts of cash, and these days, small amounts of cash buy you a burger in a fast food joint, not much else.

[Zarathustra]

Originally Posted by fleury

Personally, I don't use my debit card at all anymore. I use my credit card or straight cash for every single purchase. This is the understatement of the year, but people do use credit cards because they don't have the money in their accounts though. Others such as myself use credit cards because of the rewards associated with them. I'm proud to say I've never carried a balance ever in my short life, and with rewards being what they are these days for using the credit card, it's totally worth it. The funny thing is though, working for a bank you occasionally hear some really odd things that people do, "I like the cashback portion of the credit card", but they carry a $10K balance at 19% and the cashback is 1% or 2%, but they can get a line of credit and save 10%. And we wonder who subscribes to African e-mail investment opportunities.

I have the same strategy.

It really is so easy to link all your accounts (credit, savings, chequing) online, paying off the credit card bill is as simple as trasferring money from your chequing account to the credit card account online in seconds.

Also, credit cards are amazing when travelling, when I was in NZ and when I was in Spain I used my credit card all the time, there were no fees or anything. If you wanted to use your Canadian debit, you'd have to find an ATM that took it, and they would also charge $5.00 per withdrawl for the currency fee. When travelling and using different currency, credit cards are very handy.

[FlamesKickAss]

Originally Posted by Temporary_User

You can use Cdn debit cards in the states. Each store's machine is different however, so not all stores work.

I shoud refrase that because my sisters worked (TD Bank) and mine (CIBC) hasnt worked anywhere I have been to

[Cactus Jack]

Visa debit is interact in Canada