Credit Cards vs. Debit Cards


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  • #1564
    el gallinazo

    I like to do my day to day transactions in fiat, whether in the FSoA or Mexico. But sometimes you just need some plastic. I learned that the hard way when a TBTJ bank closed down all my accounts for no apparent reason last fall other than I was, in their parlance, a deadbeat, meaning that I never allowed a carry over debt on my CC, or borrowed money from them in any other manner. Banks do not need checking account deposits any more now that Da Fed reserve requirement is functionally zero. This has had a major impact on the toaster industry.

    I now have three bank accounts and a debit card for each. My question is: Is there anything you can’t do with a debit card that you can do with a credit card beyond turning yourself into a debt slave? For example, I have heard rumors that it is harder to rent a car with a DC. Once again, I am not referring to borrowing money from a bank.


    If you want to dispute a transaction, whether for fraud or because you’re unsatisfied with the merchandise, you are better off with the credit card, at least inside the US.

    This doesn’t bother me for gas or groceries, but I keep it in mind when ordering over the interwebs.


    Credit Cards vs. Debit Cards: A Comprehensive Comparison

    Some checking accounts offer yields on balances that may be dependent on whether the transaction is a debit or credit. The CU I use has a checking account that says you need to use your debit card 30 or more times each month to get a 2.51% APY (but it actually accepts both debit and credit transactions towards the requirement):

    Go Green Checking


    When you rent a Car with a Debit card, the Auot leasing company x tkaes a large deposit and charges it to your card, $350 in my most recent rental (today in Phoenix). You do not have use of this money for about 14 days AFTER you return the rental car in good condition. they use the Float to make short term profits on your deposit money.

    so, in order to rent, besides the actual rental cost, you must have at least $350 EXTRA in the account you use for this purpose, and be willing to have it tied up for about 14 days. That is BIZNESS days also so its probably abotu 3 weeks or near a full billing cycle.


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