Kitchen

[scatcat]

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@sidsmom wrote:

Checks?

Yeah, the Nostradamus in me says,

It’s just a short time before checks will be obsolete.

Especially with retail.  Too much risk, too costly to process.

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Checks are like dial telephones 

[Lipstickdiva]

I pay with my Discover Card but I deduct it out of my check register like I've spent cash. Then within the next couple of days when the charge hits my account, I  pay off the bill. 

[beckyb1012]

Still use a check at the grocery store since the only credit card I allow myself to use is American Express and my store does not take it.  A. Express has to be paid in full each month so it keeps me out of trouble and debt free.  I get dirty looks sometimes from other customers at the grocery store but whatever, their problem not mine.

[Lipstickdiva]

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@Marp wrote:

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@novamc1 wrote:

The problem with debit cards is that once yours is stolen and used, your entire bank account could be emptied in a heartbeat.   Meanwhile, other deductions from that account  to pay bills might not go through, creating overdue balances.  The bank will give you your money back, but it usually takes a while to process.

We had a credit card number stolen and used, and did not suffer any delay or loss, because the credit card bill only  comes once a month, giving time to see any damage amd report the illegitimate charges........Debit cards will debit a bank account instantly, and the money is out of your hands until the mess gets straightened out.

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Last year I had an unauthorized charge on my debit card. I notified the bank and a conditional refund was immediately posted to my account.  Within 2 days the conditional was removed and funds fully restored.

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That's fine but it's not always that easy.  My debit card numbers have been lifted more times than I care to think about.  One time my checking account was depleted enough that other automatic payments that normally pull out and other purchases were declined and my account overdrawn which resulted in multiple $35.00 fees.  Eventually the money was put back and all the overdraft fees were refunded but it was quite a hassle. 

One time all this happened on a Friday so I had absolutely no funds for an entire weekend.  Luckily we had emergency cash in a safe.   

Some people can't afford to be without money for even 24 hours let alone 48+. They run their funds very tight. 

[lulu1]

I use my Discover everywhere I possibly can.  Every December I take my Cashback Rewards. It is always a significant amount of money.

[AnikaBrodie]

Cash 99% of the time.  If I'm low on cash I may use credit card for the balance but this is rare.

[Annabellethecat66]

@novamc1 I am aware of everything you've said and when my husband was alive we did everything and used all of it that you mentioned.

However, I'm 71 and I own my house, my car and have no bills at all. 

When I travel one of my daughters makes the reservations and I pay them back (that way they get points).  I have  a specific card unconnected to others that I use for each thing.

I appreciate the information but it wasn't necessary.  Thanks for taking the time to post it as perhaps it will help others.

When I do sell my house and downsize, I will pay cash for whatever I buy.  I have accountants and my investments are handled by a large company.  I live off of some of the interest, the rest is reinvested.

Again, thank you.

[Financialgrl]

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@house_cat wrote:

The last few years I've been using a charge card at the grocery store, then paying it off each month.  In this way, I get valuable points to spend on Amazon for other things.  Lately I realized that I'm buying food we don't need and wasting some of it.  I went back to using cash last month and lo' and behold, I'm spending less money.

Do you use a card, or cash, for grocery shopping?

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I used to use my credit card for cash points but changed that strategy recently.  If I need a few things at the grocery store and my bill is $20 or under I pay cash or I use my debit card if I want cash back when I see my VISA card creeping higher.  

I've started doing so bc in our area they are finding a lot of compromised ATMs, gas stations where someone has put the phishing devices onto them.  I hate it - I'd gotten to the point that I rarely walked into my bank/CU and these days I go in rather than use the ATMs outside bc of this.  

[Financialgrl]

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@novamc1 wrote:

@Annabellethecat66

Given all the protections for credit card use and few protections for debit card use, what is your reason for selecting the debit card option?  Just curious.

For example, you can (and I have done this) dispute a charge  through your credit card company for a defective item or service not received from a retailer.  You can't do this with a debit card.

If you rent a car and use certain credit cards for the rental fees, and then the car is damaged by someone else on the road  while you are driving it (this has also happened to me), the card company picks up an initial amount that might keep you from paying the deductible on your auto insurance.  

I notice one poster cited the relative quickness of paying cash versus credit card...........but I'm encountering some checkout machines that process and approve a credit card purchase much faster than they used to.  

When I  pay cash, it takes time for the cashier to count up and count out my change.  Then I have to deal with putting away the change.

A previous poster pointed out (and I agree) that using a credit card is like getting an interest-free loan until the bill comes in monthly.  With a debit card, your money is gone as soon as you swipe it.

My son has had his debit card hacked a couple times, and I still can't convince him to use the perfectly good credit card he has. 

So there must be a reason unknown to me for favoring debit cards.

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I have two cards that allow use of both options under the VISA logo.  I posted elsewhere that around here there's been a lot of 'phishing hardware" on ATMs and gas stations.  I use the credit option for gas and large purchases and things for the very reason you suggest but use debit in grocery stores if I want money back (figure their machines are less likely to get hacked right at the registers). 

I still have the paperwork that came with both cards which I'm pretty sure say that VISA stands behind and backs both charge/debit options.  I recently got a notice from the CU saying I'd not used the ATM only card in years and they were going to de-activate it unless I used it within the next month.  I'll probably let that one expire bc on that one, you're right, no protection.