#46
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Most of the places I shop for groceries, etc. do not accept credit cards OR debit. So cash.
I have probably bought less than 10 things, EVER, online, so that is not an issue. I pay all my bills online though.
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guitars: 1978 Beneteau, 1999 Kronbauer, Yamaha LS-TA, Voyage Air OM Celtic harps: 1994 Triplett Excelle, 1998 Triplett Avalon (the first ever made - Steve Triplett's personal prototype) |
#47
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Just a reminder that there’s a difference between debit cards and credit cards. Debit cards withdraw money directly from your checking (usually) account when you make a purchase - it does not loan you money each time you use it which it’s up to you to either repay each month or start paying interest on, there are no bonus points or fees or interest rates to be concerned with. It’s effectively the same as paying with a check or getting cash from an ATM and paying with that. It’s just more convenient and makes for easier accounting and tracking of expenses. It doesn’t lead to financial irresponsibility because if you make a $50 purchase with a debit cares, that money comes out of your account more or less immediately.
I use credit cards for some large purchases but the vast majority of my electronic purchases are with a debit card, like I used to write checks or pay cash. Usually I can make that debit purchase without touching the card, using Apple Pay, but that doesn’t change that when I make the purchase, the money comes out of my account within minutes or seconds usually - it’s no kind of credit. There are debatable points about the efficacy and true costs (or savings) associated with credit card use, but those don’t apply to debit cards. |
#48
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The places where I shop for groceries accept credit and debit cards. I usually pay cash.
On the rare occasions when I buy something online, I have the options of using credit card, or making a direct bank transfer. Direct transfers are very easy to do online, within EU.
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Breedlove, Landola, a couple of electrics, and a guitar-shaped-object |
#49
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David Webber Round-Body Furch D32-LM MJ Franks Lagacy OM Rainsong H-WS1000N2T Stonebridge OM33-SR DB Stonebridge D22-SRA Tacoma Papoose Voyage Air VAD-2 1980 Fender Strat A few Partscaster Strats MIC 60s Classic Vib Strat Last edited by Kerbie; 06-12-2019 at 06:39 AM. Reason: Edited quote only |
#50
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A long time ago, someone hacked a department store near me. I used a debit card there and someone got my debit card and pin number and made duplicates. They were using them all over the world and withdrew thousands of dollars straight out of my bank account. I had to go to the bank and it was a major PITA, but I eventually got all my money back after some time. I literally have never used a debit card since... literally as in it was more than 10 years ago and I've never once used it for a transaction in that time. Always a credit card for that and to get points.
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#51
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For large purchases and almost any online purchases I tend to use the credit card specifically because of the protections it offers and because I make some tiny amount of money by putting larger charges on that and paying off my bill every month. I get all of the complaints about credit cards but they're in wide use and me never using them isn't gonna make the problems and potential problems go away. I mean, the world would be a lot better off if we all stopped driving and using air conditioning too, but at a certain point complaining about the systemic evils of credit cards is a bit of tilting at windmills. -Ray |
#52
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As quoted above, with debit cards the money comes right out, potentially leaving you liable for overdraft charges, if a check or another transaction posts afterwards and there aren't sufficient funds. Even attempting a purchase with a debit card, which for some reason doesn't go through, can create an authorization that holds that amount, and can place your balance in jeopardy. It will fall off in a few days, but until then will show up as a transaction. Some banks will realize this and not assess overdraft charges, but others don't, and will need to be called right away. So if you must use a debit card, check the balance and transactions daily. And better, switch to a credit card, paid off in full each month. With some cards, there are other benefits, like theft and loss protection for purchases, vehicle damage insurance included on car rentals, etc.
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#53
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Funny but I was in a gas station yesterday and the guy ahead of me had a card. It took him longer to put the info into the card reader and have it processed than it did for me to just hand the cash to the register guy and walk away. Not a whole lot longer but it was definitely longer. In fact the guy behind me in the line let out a huge sigh when the guy with the card went to put it into the reader as he also had cash at the ready (we exchanged a look so I know exactly why he made that sound).
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#54
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Martin 00018 |
#55
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At most gas stations, the care-reader on the pump will first ask you if the card is a debit, and then ask either for a zip code or a pin number depending on your answer. Seems pretty quick to me, but if there's a guy right there waiting to take your cash and you don't need any change, I can see that being marginally quicker. But if you have to go inside the station/store, forget it, the card reader is way quicker then. And an increasing number of gas pumps are starting to take Apple / Samsung Pay, which is quicker yet.
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#56
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Even small merchants use modern distributors so the choice to make a transition is very likely no in a power outage. Quote:
The contactless payment systems mentioned are superior. Apple Pay that has been mentioned doesn't give the merchant your credit card number as a good example. When a web site accepts Apple Pay you give the merchant minimal information to complete the transaction, your wrist watch or phone authorizes it, and it's a best way. If your Apple Pay is tied to a particular MasterCard # consider a criminal someplace else could have that in a breach. Your phone or wrist watch authorizing the transaction is a layer of security. I'm convinced my change to cash for some sales and making all sales possible with Apple Pay and a specific card have cut what seemed like regular stollen number issues. For about 3 years I've only used one of my regular cards when I do international travel and less than ideal travel in the US. That card and not the one I try to use most often is the only one that's been stollen in recent times. I'm sure that is because of the transactions where there was no EMV in use. I do believe I've proved to self that Apple Pay is best when you can do it. I'm also convinced that few merchants and their vendors are following the rules and as secure as they should be. I'm a year into new responsibilities in a group of stores. The vendors, managers and customers all remind me of the stats class when the lecturer said "Today you'll learn being average doesn't mean 1/2 way smart.". I don't like it when people put down cashiers and make some assumptions for particular generations. In a way I'm over hundreds of them. They're as young as 16 and as old as 81. They have a demanding job that doesn't pay particularly well. Ours all have a camera that watches them and the customer. BI in the system can show a good cashier or a bad one. Being a millennial doesn't have anything to do with their being good or not. The most shameful in what we can see is often the behavior of my baby boomer group and generation behind me.
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#57
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I have two different doctors who's card readers clearly were setup for electronic payments (there's a particular symbol that looks sort of like a wi-fi symbol), but when I asked if I could use Apple Pay, they looked confused and said they didn't think so. I asked if I could try it, and in both cases, it went right through and they were satisfied with it because it told them the transaction had been approved, just like if I'd used a card. Sometimes you have to push a little bit, but that technology is coming online in more and more and smaller and smaller vendors. It's safer than a credit card because nobody ever see's your numbers. And if you lose your phone, nobody else will be able to use it because it uses either your thumbprint or facial recognition to OK the purchase, so unless you have an EXTREMELY identical twin.... |
#58
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#59
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I always carry 2-3 hundred dollars for emergency. But almost always use my credit card. The most usage being at the pump at the gas station.
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#60
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CASH IS KING, BABY!!!
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"Home is where I hang my hat, but home is so much more than that. Home is where the ones and the things I hold dear are near... And I always find my way back home." "Home" (working title) J.S, Sherman |