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using my new checking card?


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15 replies to this topic

#1 of 16 OFFLINE   Keith_R

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Posted October 05 2003 - 02:08 AM

Hey all, a few days ago I got my first checking card. Currently I have no credit cards so the checking card is the closest thing to a credit card for me. I would like to order something from Amazon.com and found out that I could use my new checking card on there, my only fear is that I've heard of people getting penalized and having to pay a fee by using their card at certain stores, usually because they used their card as a debit card instead of credit. I can't find anything on Amazon that differenteates between the two ways of using this card so I assume that when you order through Amazon with a checking card it goes through as a credit card, therefore I would not possibly get penalized but I don't know for sure. Anyone know what I'm talking about? Will my checking card be used as a credit card if I order over at Amazon? thanks. -Keith-
-Keith-

#2 of 16 OFFLINE   Kyle McKnight

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Posted October 05 2003 - 02:39 AM

The only way they can put it through as debit instead of a "visa/MC check card" is by having your pin number. I use Wells Fargo. I'm not penalized for using my pin at "point of sale" when I'm buying something...only if I use someone elses ATM.
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#3 of 16 OFFLINE   Eric_L

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Posted October 05 2003 - 04:22 AM

Debit cards scare me. Maybe I should mention that on the phobia thread. If there are fraudulent or incomrrect charges on your account it could make life very difficult until the whole mess is fixed.

#4 of 16 OFFLINE   Christ Reynolds

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Posted October 05 2003 - 05:05 AM

[quote] If there are fraudulent or incomrrect charges on your account it could make life very difficult until the whole mess is fixed [quote] unless you act like a fool with your pin number or personal information, i'd say you were pretty safe. debit cards have been around for a little while now, i think i can safely say that the majority of card holders have had no problems. and almost always, if you shop at a big online retailer such as amazon, you are protected against fraudulent charges on your card. of course there are risks when using them, but if you act appropriately, the risk is dimished greatly.

CJ
And then when I feel so stuffed I can't eat anymore, I just use the restroom! And then I CAN eat more!

#5 of 16 OFFLINE   Andrew W

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Posted October 05 2003 - 01:08 PM

[quote] unless you act like a fool with your pin number or personal information, i'd say you were pretty safe. [quote]

Unfortunately, this is not true. There have been many incidents of rigged debit card readers, usually in off-name convenience stores that will capture your PIN when you make a purchase. The store owners have then used the card number and PIN to rip off the card holder.
Andrew in Austin

#6 of 16 OFFLINE   Scott_J

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Posted October 05 2003 - 01:42 PM

As Kyle alluded to, anytime you order from a (reputable) e-tailer using a debit card, it goes through as credit. At a B&M that gives you a choice on debit cards (some only let you use it as credit), the rule of thumb is: if you use your pin, it went through as a debit; if you had to sign for it, it went through as a credit. I would definitely check with your bank to see if they charge for using it as a debit, and if so - how much. And also be aware that some stores charge you for using it as a debit (in addition to what your bank may charge you), and some charge you only if you get cash back on the debit. Anytime you use it as a credit, you shouldn't get charged (by your bank or the store), but there may be an exception or 2 I'm not aware of so don't quote me on it.

#7 of 16 OFFLINE   Christ Reynolds

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Posted October 05 2003 - 02:15 PM

[quote] Unfortunately, this is not true. There have been many incidents of rigged debit card readers, usually in off-name convenience stores that will capture your PIN when you make a purchase. The store owners have then used the card number and PIN to rip off the card holder. [quote] like i said, unless you act like a fool....using your card in a place you have never been or dont trust could be considered acting like a fool. i wont use my card in some hole in the wall place, too risky, such as the above scenario.

CJ
And then when I feel so stuffed I can't eat anymore, I just use the restroom! And then I CAN eat more!

#8 of 16 OFFLINE   Keith_R

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Posted October 05 2003 - 03:04 PM

Thanks for the help ya'll. I figured that it probably goes through as credit on Amazon. Another question, I currently have my TiVo under a family member's credit card. Would it be possible to put my TiVo under my new checking card and allow it to simply take the money out that I owe each month? anyone know if this is possible? thanks.
-Keith-

#9 of 16 OFFLINE   Malcolm R

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Posted October 05 2003 - 03:29 PM

When using a check card for on-line purchases, just be aware that some retailers will place a "hold" on those funds, even if they won't ship the item for an extended period (i.e., you pre-order a DVD that's not due to be released for 3 weeks). Once you have placed that order, the vendor may place that cash in your account "on hold" even though they don't actually charge your account. This can lead to overdrafts and bank fees if you write a check and expect that cash to be available for use prior to the date when the vendor charges your card and ships the DVD. So, just be sure and deduct the amount from your checking register upon placing the order, even if the DVD won't be shipped for several weeks.
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#10 of 16 OFFLINE   Ted Lee

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Posted October 05 2003 - 03:38 PM

keith -

one thing to consider in case you do become a victim of fraud.

remember, this is a check-card. this money is taken directly out of your checking account. in effect, you are giving them cash from your account...you are not really using a "true" credit-card.

the point is, if someone gets a hold of your account, they have easy access to your cash. your money is gone.

with credit, they simply reverse the charges and you're home free. tbh, i'm not exactly sure what the steps are for fraud when a debit-card is involved, but i hear it's much more of a hassle.

just something to consider. i don't mean (or want) to scare you....
 

#11 of 16 OFFLINE   Steve_Tk

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Posted October 05 2003 - 05:23 PM

If you are 18 and only plan on buying what you can afford (meaning always paying off the balance every month) then there are a number of credit cards out there that give cards to people with no credit. They are great for establishing some credit.

#12 of 16 OFFLINE   Chris Smith

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Posted October 06 2003 - 01:00 AM

I've turned my CC feature OFF my debit cards as I, my fiancee AND my father have all had our CC number stolen/used. It's a pain in the ass to get your money back and you are really WITHOUT the money because it comes right out of checking account. My Dad's number that was stolen was a debit card that he had NEVER used. Some random company in Spain started spoofing CC numbers and happened to hit on his. He was without the money for about 3 weeks until the bank gave it back to him.
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#13 of 16 OFFLINE   Leila Dougan

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Posted October 06 2003 - 05:03 AM

[quote] I currently have my TiVo under a family member's credit card. Would it be possible to put my TiVo under my new checking card and allow it to simply take the money out that I owe each month? anyone know if this is possible? [quote]

Yes. Nobody will even know it's a debit carb, they'll think it's a credit card and will accept it (assuming you have the Visa logo on your card).

#14 of 16 OFFLINE   Todd Henry

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Posted October 06 2003 - 05:14 AM

Same banks, like mine, offer the same fraud protections on their debit cards as credit cards. Todd

#15 of 16 OFFLINE   Danny R

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Posted October 06 2003 - 05:51 AM

I've had three problems with debit cards, all of which could also happen with a standard credit card, but when combined with your primary checking account made a problem... The first was that after purchasing something at Radio Shack, somehow the person after me rang up a $200 part or such and it was also on my account. After calling the bank, they recredited the account in 2 days. However since debit cards come directly from your checking, I was out that money till it was refunded. This was using the card as a credit card, not a debit. The second problem has already been mentioned. When using the card for a hotel stay, they pre-billed the account an obscene amount of money (something like $500) even though we were only staying one night. Thus for the trip we were totally broke as our funds were unavailable. The final problem was a result of bank security. Because we bought a new car stereo and CD deck (an unusual purchase), they froze our account till we could verify that it was a legitimate purchase. This was made all the worse because we bought the stereo in preparation for going on a long trip, and we were already miles out of town when we discovered the problem. As I said, any of this could also have happened with any credit card... only most people don't depend on their credit card to pay day to day expenses and thus if there is a problem its not a major inconvenience.
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#16 of 16 OFFLINE   MikeAlletto

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Posted October 06 2003 - 06:59 AM

[quote] I figured that it probably goes through as credit on Amazon. [quote]
I hope you understand the difference between a credit card and a check card. Your bank check card pulls the money out when the store hits your account. There is no end of the month bill like a credit card. So if you don't have the cash on hand it will be refused. It is not a credit or debit card question. If its your check card it is a debit card.

I never use my check card for buying things, only as an atm card. I use my credit cards everywhere but pay off the full amount at the end of the year. Its easier and more convenient. It is a 30 day no interest loan. Only buy things that you can afford to pay cash for.
Michael Alletto




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