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Posted by karsan2007@gmail.com on August 15, 2008, 5:02 am
I also have a savings account. My bank has a offer that you sign up
and use you debit card and they will transfer the change to your
savings account and my bank transfers money every month to my savings
I saved $6.40 already this month so far.
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Posted by Default User on August 15, 2008, 12:22 pm
karsan2007@gmail.com wrote:
> I also have a savings account. My bank has a offer that you sign up
> and use you debit card and they will transfer the change to your
> savings account and my bank transfers money every month to my savings
> I saved $6.40 already this month so far.
That never really makes a lot of sense to me. All it's doing is moving
your own money from checking to savings. You could do that. Now, some
of the credit card ones match the change (at least initially), but I
still think you'd be better off with a good rewards card.
Brian
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Posted by Elizabeth Richardson on August 15, 2008, 1:10 pm
>I also have a savings account. My bank has a offer that you sign up
> and use you debit card
I don't understand the point of a debit card. Why not use a credit card and
use someone else's money for a month? If you have the money to pay for
whatever anyway, you'll pay the balance in full at the end of the month, so
there's no interest charge. Use some kind of rewards card and get additional
benefit(s).
Elizabeth Richardson
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Posted by Default User on August 15, 2008, 2:55 pm
Elizabeth Richardson wrote:
>
> ...
>
> > I also have a savings account. My bank has a offer that you sign up
> > and use you debit card
>
> I don't understand the point of a debit card. Why not use a credit
> card and use someone else's money for a month? If you have the money
> to pay for whatever anyway, you'll pay the balance in full at the end
> of the month, so there's no interest charge. Use some kind of rewards
> card and get additional benefit(s).
For those who can handle their finances (that's all of us here, right?)
that's the best policy. I use my cards for everything I reasonably can.
Besides the cash back, you get a list of your monthly expenditures.
Brian
--
If televison's a babysitter, the Internet is a drunk librarian who
won't shut up.
-- Dorothy Gambrell (http://catandgirl.com)
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Posted by Elizabeth Richardson on August 15, 2008, 7:40 pm
>
> For those who can handle their finances (that's all of us here, right?)
> that's the best policy. I use my cards for everything I reasonably can.
> Besides the cash back, you get a list of your monthly expenditures.
>
Brian, I think my point is that people who are using a debit card instead of
a credit card are not adequately handling their finances. A debit card in
the hands of the end user makes no sense whatsoever. The fee (to the
merchant) for accepting a debit card is higher than for a credit card - at
least that's how it was when they first came out, perhaps things have
changed since I was in the loop on that stuff. The banks want you to use it
because it increases their bottom line, but it seems to me that it has only
increased prices for everything.
Elizabeth Richardson
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