Comments on: Credit Cards vs. Check and Debit Cards: An Easy Choice?

By: Jim

Jim — Wed, 16 Apr 2008 14:46:23 +0000

We disagree. Credit card companies have replaced the local loan sharks. Human nature being what it is leads to mistakes. Missing or being late on just one payment will result in interest rates exceeding 30 percent. All you have to do is have your payment get mixed up in the mail or have a short term financial crisis like being fired and you are in trouble. Simply stated the misuse of credit cards and consumer debt is the number one cause of divorce in this country. Misuse of credit cards and money is also linked to domestic abuse as well. Last year credit card companies made more money on penalties and late fees then they did on interest. Your FICO score is debt score. My wealthty friends have FICO scores of zero and are proud of it. Pay off your cards and use cash. Get rid of your plastic. Credit card companies are the new loan sharks.

By: Ignoring Homeless People on the Street and Not Feeling Bad About It | Punny Money

Thu, 03 Apr 2008 23:45:54 +0000

[...] accosts you on the street. If you need regular access to cash, carry an ATM card if you must (but not a debit card). Otherwise, keep only credit cards in your wallet and you won’t have to worry about [...]

By: Jake

Jake — Sat, 29 Mar 2008 01:20:33 +0000

I recently had my CC info stolen, and I had a charge on it which I never authorized. I simply contacted my credit card company via an online dispute form, and the next day they took the charge off my card and refunded my money. I suspect this would not be nearly as easy with a debit card. I will definitely stick with my credit card for that reason if nothing else.

By: Jeremy

Jeremy — Thu, 03 Jan 2008 19:06:29 +0000

My only real problem with debit cards is it’s harder to charge back bad charges and if you lose it, that’s instant money you lose till you get it back.

By: Carnival Round-Up: Week of May 22, 2006 | Punny Money

Carnival Round-Up: Week of May 22, 2006 | Punny Money — Tue, 23 May 2006 13:29:16 +0000

[...] The Carnival of Personal Finance hosted by Frugal For Life. Look for my argument against debit card usage. [...]

By: Jenn

Jenn — Thu, 18 May 2006 11:49:57 +0000

One of the hardest things for me about using my checkcard is remembering to TREAT IT like a check and keep track in a checkbook register. When I first graduated from college-uh, quite a while ago-I had a bad checkcard experience where I didnt keep track, then wrote some checks and had stuff bouncing around everywhere! I wound up taking out a signature loan (at a very low rate) to pay off all the fees as well as some credit card debt I had racked up (the interest on the loan was way less than on the credit cards). Let’s just say that I learned from the experience. . . .