I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

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iamblessed
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I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by iamblessed »

Thought I would ask others.
Triple digit golfer
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Triple digit golfer »

I never use a debit card. It seems like an unnecessary risk with no upside other than administratively having one less bill to pay each month.
Northster
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Northster »

I got a 2% cash back card and don't use my debit card at all. Also nice that I pay one bill rather than having to keep track of all the debits in my checking account.
tibbitts
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by tibbitts »

iamblessed wrote: Thu Jul 30, 2020 4:16 pm Thought I would ask others.
I didn't even know Discover had debit cards. Why would you not want a Discover "It"?
NoblesvilleIN
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by NoblesvilleIN »

We always preferred (past tense) to use the debit card for local retail purchases. It just made more sense to us to have the money come directly out of checking account rather than mentally keep track of purchases on the credit card. We used the credit card for eating out where we don't have the card in sight and for online purchases. After retail shut down and we were doing order and pickup groceries, we basically have stopped using the debit card. I doubt that we will go back. We have found that it's just not that hard to keep track of purchases. We have the 2% Fidelity card. It is still rare for me and nonexistent for my wife to actually go into a store. I doubt that will change very soon either.
hayhayday
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by hayhayday »

The day I turned 18 I opened a few credit cards and havent used debit since. My main card is alliant no fee platinum that gives 2% back on everything, amex blue cash is a good secondary if you spend a good bit on groceries as the 6% (up to 6000 per year , 360 back) more than covers the $75 annual fee.
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Kenkat
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Kenkat »

I never use a debit card and have a Discover Card I use regularly. I sent the debit card my bank sent me and asked them to send me a regular ATM card instead.

I see no real reason to use a debit card over a credit card.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Jack FFR1846 »

I have never used a debit card unless you count the pre-paid Visa or Mastercard gift cards that I use for manufactured spending.
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TheTimeLord
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by TheTimeLord »

Triple digit golfer wrote: Thu Jul 30, 2020 4:17 pm I never use a debit card. It seems like an unnecessary risk with no upside other than administratively having one less bill to pay each month.
Ditto.
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msi
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by msi »

I haven't used a debit card in years.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by sport »

I refuse to even have a debit card. Extra risk and reduced features. Seems like a lose-lose proposition.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Doctor Rhythm »

If you can commit to paying off the full balance on a credit card every month, that’s the way to go. Otherwise, I guess a debit card is okay (I’ve never used one, so can’t comment from experience).
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by FarmWife »

We use a debit card for our immediate consumption items like groceries and eating out, but credit card for almost everything else to get the points. For some reason it just irks me to pay a credit card bill for food I've already eaten. We get 1.5% with our Chase CC, the points are used to pay for Christmas gifts each year.
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FrankTheViking
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by FrankTheViking »

Wife and I use the card. Only at WinCo since they don't accept credit. Takes 2-3 business days for transferred funds to appear in the account... overall great card and great customer service.
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JackoC
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by JackoC »

Only debit card we use is Target one at that store, 5% off. Otherwise all spending is via CC at >=2.625% cash back, unless there's a discount for cash > than the CC cashback, or a convenience fee greater than it, or CC just isn't allowed. Then check or paper money.

I got a debit card for Penfed FCU checking account I opened basically just to get a bonus. Used it a few times as required for the bonus. It got hacked almost right away. :happy No money out of my pocket in the end but I don't know why I would use a debit card (I don't really believe it would affect how much we spend, and we don't have any need to spend less anyway).
SantaClaraSurfer
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by SantaClaraSurfer »

We used to use Cash/ATM for everything with the logic that we spend less as a result.

(I personally still think that's true, but I'm not the only vote.)

We've switched to AMEX Blue this year with 6% for groceries and streaming.

We put the net "cash back" into SWPPX Mutual Fund (S&P 500, .02% ER) plus the odd $25 into this extra fund.

We'll let you know how that idea worked out in...about 20 years or so.
Last edited by SantaClaraSurfer on Thu Jul 30, 2020 5:43 pm, edited 1 time in total.
jmw
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by jmw »

Debit card for most purchases in an account with no overdraft possible. If money wasn't budgeted for the shopping, the charge gets declined. I move just enough money to get the weekly shopping done and no more. The risk of overspending far outweighs the loss of rewards. All it takes is a single compulsive purchase to wipe out the savings from rewards. Even 3% rewards is not worth it the overshopping risk. A credit card at Costco is very dangerous. Costco is designed for big compulsive shopping.

Having the ability to pay off the full balance from savings doesn't negate the overspending that has already occurred.

For large purchases, rewards credit card of course.

Rental cars go on credit card too.
gks
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by gks »

OP,

If you use a debit card, you are gambling with your money, since it is in your bank account. If you use a credit card, you are gambling with the credit card company. If something bad happens, the credit card can be cancelled. If something bad happens with a debit card, it may take months to get your money back. Personally, we never use a debit card for purchases.

YMMV

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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by gks »

Addendum,

We pay off all credit cards at the end of the month.

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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by stoptothink »

FrankTheViking wrote: Thu Jul 30, 2020 5:37 pm Wife and I use the card. Only at WinCo since they don't accept credit.
But you can buy and reload WinCo gift cards from their website with credit cards. It's how I do the majority of my grocery shopping. I don't think I've used a debit card since I got my first CC 21yrs ago.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by nisiprius »

I fell for a Discover card a few years ago when they were offering their "Open Road" card that gave you 5% cashback on gasoline. As is so often the case, "the way I thought it worked" lasted less than a year and they started to erode the deal in subtle ways. They began to make it harder and harder to exercise the "cash back" feature to take dollars off your bill (rather than spend the "cash back" on a $69.95 Salton Digital Reciprocating Fondue Shooter), then they required you to let the cashback balance accumulate to $50 before you could use it, then they cut the percentage down, etc.

I also fell for it because they heavily advertised that they would pay for damage on rental cars meaning you could accept the collision damage waiver--and never noticed that the credit card I already had, had always had the same feature.

So quite apart from the question of credit versus debit, I would say that I would think twice about a slightly-off-brand credit card if you don't currently have VISA or MasterCard
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by HawkeyePierce »

I never use my debit card at anywhere but ATMs. All spending goes on either a Chase Sapphire Preferred or Amex Everyday Preferred.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by rgs92 »

As far a groceries go, Amex Blue Cash Everyday gives you 3% back on groceries for no annual fee. (This is often mentioned on the forum.) I think there is a limit to the rewards, so it makes sense for a couple (or all adults in the household) to each get a separate account to maximize the rewards.

Yep, debit cards are terrible except for ATM usage where it seems mandatory. I like the idea of asking for an ATM only card as mentioned here (in some thread I read) but I never tried asking.

When I had Discover, a lot of places never took it and I could not keep track of the rolling rewards categories and I found it annoying so I dropped them. And I didn't want to carry yet another card. (They seemed to call me and send snail mail to me to re-enroll for like 20 years. They are a super-annoying company IMHO. Maybe it's a legacy from Sears...)
Last edited by rgs92 on Thu Jul 30, 2020 6:56 pm, edited 1 time in total.
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Chrono Triggered
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Chrono Triggered »

I would lose money and be less secured if I used a debit card for purchases so no, I do not use one.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by UpperNwGuy »

I never use debit cards. I only use credit cards. Two reasons: First, debit cards don't have the same protections as credit cards. Second, credit cards have better rewards. I pay my credit cards in full each month, so I never pay interest.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by SmileyFace »

FarmWife wrote: Thu Jul 30, 2020 5:23 pm We use a debit card for our immediate consumption items like groceries and eating out, but credit card for almost everything else to get the points. For some reason it just irks me to pay a credit card bill for food I've already eaten. We get 1.5% with our Chase CC, the points are used to pay for Christmas gifts each year.
You can use your credit card for consumption items and just immediately pay for it if it makes you feel better - you don't have to wait for a monthly bill - login and immediately pay the amount you have just used for consumption.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Hiker-Biker »

Debit card linked to a separate checking account for international travel, only to obtain local currency. This checking account only has enough funds for the trip in case the debit card is compromised. Otherwise, credit cards only for all spending where credit is accepted.
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SmileyFace
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by SmileyFace »

I use credit cards all the time. 5% off all Amazon and Whole Foods grocery store purchases and 2% off everything else. The only time I don't use a credit card is if there is a "convenience" fee. Take the 2% - merchants are building the fees into the cost of doing business you might as well get your share back.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by jmw »

DaftInvestor wrote: Thu Jul 30, 2020 7:12 pm You can use your credit card for consumption items and just immediately pay for it if it makes you feel better - you don't have to wait for a monthly bill - login and immediately pay the amount you have just used for consumption.
Paying in full immediately doesn't help at all with overspending and compulsive shopping behavior unless the credit line can be adjusted frequently.
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SmileyFace
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by SmileyFace »

jmw wrote: Thu Jul 30, 2020 7:20 pm
DaftInvestor wrote: Thu Jul 30, 2020 7:12 pm You can use your credit card for consumption items and just immediately pay for it if it makes you feel better - you don't have to wait for a monthly bill - login and immediately pay the amount you have just used for consumption.
Paying in full immediately doesn't help at all with overspending and compulsive shopping behavior unless the credit line can be adjusted frequently.
Overspending/compulsive-shopping wasn't the problem I was responding to. If you have this problem maybe don't use a credit card nor a debit card - maybe cash in envelopes would work best for you.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Marmot »

Never
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Doom&Gloom »

I don't think I have ever used a debit card for anything other than an ATM. And not even that for the past 30+ years.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by AerialWombat »

I used debit cards regularly back when I was bankrupt. Banks kinda take away your credit cards when you screw them over in chapter 7.

No way I’d ever go back, though. No fraud protection. I don’t even have a debit card on any accounts.
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ResearchMed
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by ResearchMed »

iamblessed wrote: Thu Jul 30, 2020 4:16 pm Thought I would ask others.
Easy answer: We *never* use a debit card.
Charge/credit cards only. Period.

We also have charge/credit cards that have perks. I really have no idea why we'd want to use a debit card, given the extra hassles involved if there is some breach.
(I suppose if someone has a serious problem with spending...?)

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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by AerialWombat »

ResearchMed wrote: Thu Jul 30, 2020 9:46 pm
iamblessed wrote: Thu Jul 30, 2020 4:16 pm Thought I would ask others.
Easy answer: We *never* use a debit card.
Charge/credit cards only. Period.

We also have charge/credit cards that have perks. I really have no idea why we'd want to use a debit card, given the extra hassles involved if there is some breach.
(I suppose if someone has a serious problem with spending...?)

RM
There are many high yield checking accounts that require X number of debit card purchases monthly to get the yield. This is the only reason I can fathom for using debit.
Doctor Rhythm
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Doctor Rhythm »

One more reason to use a credit card: the $1.98 balance from the two vending machine purchases I made with my Discover Card was waived. Apparently that’s too small of a balance for the bank to bother collecting.

That’s two free cans of soda, people. :greedy
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Ragnoth »

The only time I use a Debit card is at the ATM.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Jack FFR1846 »

Doctor Rhythm wrote: Thu Jul 30, 2020 10:53 pm One more reason to use a credit card: the $1.98 balance from the two vending machine purchases I made with my Discover Card was waived. Apparently that’s too small of a balance for the bank to bother collecting.

That’s two free cans of soda, people. :greedy
This is one of the credit card strategies. Discover forgives $1.99 a month. I think Dr of Credit has the list of cards that forgive either $1.99 or $0.99 every month. For "sock drawer'd" cards, this is a great way to collect a bit every month and keep the card active.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by scrabbler1 »

I use my debit/ATM card to get cash at my local bank's ATM. The last time I used it for a very rare purchase was back in 2008. I treat it like a back-up to my credit card in case something happens and the credit card gets rejected (which BTW has never happened). I do have a back-up credit card but I keep it at home unless I am traveling out of town for an extended trip.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by galawdawg »

I'm assuming perhaps you mean a 1% Discover card. If you are talking about a credit card, go for it. However, you can easily find 2% cards out there for all categories (Citibank DoubleCash is one, Fidelity Cash Back is another), and cards that give you 1% back on everything with more cash back on certain categories (consider Chase Freedom, AMEX BlueCash, BOA Cash Rewards for example). So you can do much better than 1% cash back.

If you are talking about a debit card, as others mentioned, credit cards are far superior to debit cards in the protection you receive in the event the card number is compromised. If a bad actor gets your credit card information, the issuer will cancel the card, send a new one, and eliminate all of the fraudulent charges. Your risk is essentially zero.

If that same bad actor gets your debit card, he/she can drain your account. Then you have to fight with the bank to get your money back. In the meantime, it is gone. If it is linked to your checking account where all of your bills are paid, imagine all of your payments bouncing. Rent, mortgage, insurance, utilities, etc. If you must use a debit card, I recommend you have a debit card only when it is linked to an account that is used EXCLUSIVELY for debit card purchases and where you fund it on a periodic basis with money that you are willing to "do without" for weeks or months if your card is compromised. But far easier to use a cash back redit card and just pay the bill in full each month.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by Artful Dodger »

I’m with the general consensus. Other than for ATM withdrawals I never use my bank debit card. My wife links hers to her a Target Red Card to get the 5% discount but that’s about it.

I do have a Discover card that I use sometimes. I think I get 1% but they have quarterly 5% off on different categories. Gas one quarter, restaurants next, home improvement stores next, etc.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by JackoC »

ResearchMed wrote: Thu Jul 30, 2020 9:46 pm
iamblessed wrote: Thu Jul 30, 2020 4:16 pm Thought I would ask others.
Easy answer: We *never* use a debit card.
Charge/credit cards only. Period.

We also have charge/credit cards that have perks. I really have no idea why we'd want to use a debit card, given the extra hassles involved if there is some breach.
(I suppose if someone has a serious problem with spending...?)
In fairness it's not necessarily a 'serious' problem with spending, though it's possible to be puzzled why some people essentially brag that they can't control their spending (although that's less annoying than when they essentially claim I can't, without knowing me at all). I like the fact my grown but still pretty young kids don't use credit cards. I don't have to worry *if* they'd spend excessively relative to their means or even pile up CC debt. Although it's also not me leaving that CC cash back on the table, it's them. To me it makes no sense to turn down that money, besides the greater hassle if debit cards get compromised*. As long as we get more goods and services by spending more money, it doesn't matter if CC's make us spend a little more, though I actually doubt that's true in our case. Main spender for everyday stuff is wife, and I don't see why it would matter if I said use this card/number [DC] or that one [CC]. It's a card and a number either way, and I'd keep enough money in the account not to overdraw for anything she'd ever buy without us discussing it first. And my main contribution to not-strictly-necessary spending is nice cars every so many years, which we also discuss upfront, and I can't see how putting the small deposit on DC or CC would change my decision at all.

*besides the usual effects, right now our checking account is also the highest rate 'savings' account we have (not counting 11mo no-penalty-cd). I'd be more reluctant to keep extra money there for interest if the debit card was ever used besides at ATM. In theory yes, every paper check you write has your account number and your signature as a model for forgers, but I've never in decades had a fraud problem with paper checks. Whereas hacked DC's seem pretty common. I had one just a few weeks ago on a checking account I opened just to get a bonus so had to use it a few times.
Last edited by JackoC on Fri Jul 31, 2020 9:05 am, edited 1 time in total.
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Re: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?

Post by TN_Boy »

iamblessed wrote: Thu Jul 30, 2020 4:16 pm Thought I would ask others.
Like several other posters, never ever use debit cards.
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iamblessed
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Thinking about getting a debit card. Has anyone here be a victim with a debit card and what did you have to do about

Post by iamblessed »

[Thread merged into here, see below (next page). --admin LadyGeek]

it? Wanted to know.
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Re: Thinking about getting a debit card. Has anyone here be a victim with a debit card and what did you have to do abo

Post by Trader Joe »

iamblessed wrote: Sat Aug 01, 2020 4:43 pm it? Wanted to know.
No, never.
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Re: Thinking about getting a debit card. Has anyone here be a victim with a debit card and what did you have to do abo

Post by nisiprius »

I've used a debit card for about thirty years and have never had any problems with it. That is, I've never had any fraudulent charges on it, so I don't know how well they would be handled.

I've used a credit card, and in thirty years I've disputed charges perhaps eight times, always quickly and successfully.

I usually use the debit card locally, for point-of-sale purchases. For example, before the pandemic I used it for grocery and supermarket purchases, Walmart, Target, etc. I also use it locally, at gas stations I've used before, for pay-at-the-pump. I use it for psychological reasons--my wife and I watch the balance on that account, and don't like to have medium-sized purchases building up "invisibly" on the credit card account.

I pretty much always use a credit card on the Internet, and when traveling--particularly in pay-at-the-pump gas pumps--because of a feeling that it will be easier to resolve fraudulent charges on a credit card.

In other words, in theory I worry just a bit about debit cards, but not enough to stop me from using them.

Oh, wait, I was double-billed on a debit card once, by a local merchant, I think innocently. I phoned the merchant and he did a refund to my debit card, so again, I didn't get find out what the bank would have done.
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Re: Thinking about getting a debit card. Has anyone here be a victim with a debit card and what did you have to do abo

Post by SchruteB&B »

Around 10 years ago, without my debit card being physically stolen, it was somehow used to make purchases in another state. Our bank caught it, but $2000 was already charged and removed from our bank account. Despite following all the proper procedures with the bank, the money was not returned to our account for over 3 months and we had to hound the bank to do it, ceaselessly following up and at one point having to threaten to report them to their regulators. Luckily the money being gone was something we could ride out for that period of time. Cancelled the debit card, got an ATM only card.
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Re: Thinking about getting a debit card. Has anyone here be a victim with a debit card and what did you have to do abo

Post by Thales »

Yes I had my card used for gambling in the Far East. They were not very good. I lost a lot of money. It was I am guessing an inside job by one of the banks employees as I hardly ever used the card if at all.

It caused a lot of chaos in my bank account which was impossible to unravel. I had to spend days on trying to sort out all of the consequences of cancelled payments and charges. In the end I gave up when I thought I was eventually there near enough. I ended up out of pocket. What can you do though.

You have to experience it to fully understand the financial mess it creates.
Katietsu
Posts: 4014
Joined: Sun Sep 22, 2013 1:48 am

Re: Thinking about getting a debit card. Has anyone here be a victim with a debit card and what did you have to do abo

Post by Katietsu »

Do you have a smartphone? If so, I would consider getting a debit card only from a bank where you can lock the card. You keep the card locked most of the time. When you want to use it, you use your phone to unlock it first. And then lock it again after use.
Minty
Posts: 364
Joined: Sun Mar 24, 2013 3:19 pm
Location: NorCal

Re: Thinking about getting a debit card. Has anyone here be a victim with a debit card and what did you have to do abo

Post by Minty »

Once we lost $5K and another time nearly a grand, IIRC. In both cases, we had the cards in our possession, and were reimbursed. I now prefer ATM only, and disable debit cards or set charge limits to 0. Plus I like the points, extended warranties, car rental insurance, etc. from credit cards.
Core Four w/ nominal bonds & TIPS. Refi Rampage: Purchase: 4.125% 30 -> R1 3% 20 -> R2 2.375% 15 -> R3 1.99% 15
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