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OT: Debit vs Credit Cards-Which do You Use?

permacock70

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Aug 31, 2000
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Can someone explain why they use one or the other?

I have always used Credit Cards because of "float" (used properly allows almost 60 days free interest) plus airline and hotel rewards and or cash back.

Using a debit card...your funds are "sucked" out instantly and I see modest income people calling their bank daily to check their balance.

Just wondering...
 
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Gamecockben1979

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Jun 5, 2017
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Can someone explain why they use one or the other?

I have always used Credit Cards because of "float" (used properly allows almost 60 days free interest) plus airline and hotel rewards and or cash back.

Using a debit card...your funds are "sucked" out daily and I see modest income people calling their bank daily to check their balance.

Just wondering...

If you’re going to pay it off on time then the credit card is the way to go. You’re building credit and racking up points and rewards.

If you screw up on paying on time, those credit cards are going to make their reward money back from you and you’re hurting your credit.

Simple rule: if you know you can pay it off at months end, use a credit. If you can’t, save or find another way.
 

Harvard Gamecock

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May 5, 2014
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As I stated in a similar thread, Since I'm going to buy groceries, gas, home repairs, dinning, clothing, etc, I might as well get some benefit out of it. So, everything goes on the SkyMiles card. I then go home and set up the payment for the next day. If I don't have the funds that particular day, I have the option to send the payment a little further out.
Might not work for others, but works for me.
 

viennacocks

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Dec 19, 2011
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If you’re going to pay it off on time then the credit card is the way to go. You’re building credit and racking up points and rewards.

If you screw up on paying on time, those credit cards are going to make their reward money back from you and you’re hurting your credit.

Simple rule: if you know you can pay it off at months end, use a credit. If you can’t, save or find another way.
Agreed. I use auto payments so funds are automatcally pulled from my bank acct each month to pay my credit card bill. Never have to worry about a late payment.

I use the fidelity card. 2% gets debited to my kids account each month. We put EVERYTHING possible on our credit card. My kids get over $1k per year from the kickback.
 

viennacocks

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Dec 19, 2011
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I personally find the 2% cash back is much more valuable than miles. It takes me years to get a free ticket to a decent location when I was getting miles. Then I had to fight blackout dates etc. I can easily fly my family of 4 out west for $1000 if I shop around. At best, I will get 1 or 2 free tickets with miles.
 
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ToddFlanders

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Mar 30, 2007
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Split everything between two cards - sky miles and just regular 1.5% back card - never carry a balance like others on here. I used my debit card the other day for the first time in ages and it felt weird.

I have to use the sky miles as I travel a lot for work and it really pays me back to keep my status (no change fees and such); and getting our family of five places is a beast on the wallet and the miles help a lot.
 

Judson1

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Jul 31, 2008
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Been doing this since 07.
Only once have I not paid it in full every month.
I have gotten 2 rifles, a bow, and other nice things with the rewards.
The rewards aren’t as nice as they used to be. I have about $500 in rewards now but can’t find anything I really want to spend them on.
Also have things like my cable bill going through that card.
 

Balwiles

Member
Nov 20, 2020
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Look into DEFI. You can get 7-8% on your money (versus 1%) and you are your own bank.

They now have all of the financial instruments - including CCs.

Everything is available in USD, if so desired.
 
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viennacocks

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Dec 19, 2011
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Been doing this since 07.
Only once have I not paid it in full every month.
I have gotten 2 rifles, a bow, and other nice things with the rewards.
The rewards aren’t as nice as they used to be. I have about $500 in rewards now but can’t find anything I really want to spend them on.
Also have things like my cable bill going through that card.
I can help you out with that $500 credit??
 
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Heyward1

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Rewards and establishing and maintaining credit history are the only reasons for credit cards. If you carry a balance every month you are not financially responsible and are a complete fool.
 
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Dizzy01

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Dec 29, 2018
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We only use our CC and pay it off each month as well. We have had the CC number stolen a couple times and if/when that happens I would rather deal with the CC company disputing charges than trying to get the bank to credit me back the money.
 

Bubbaglide

Active Member
Sep 1, 2006
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On the road again
I use the DC for atm when i need cash. Otherwise i use the CC. Like other i pay the balance a few days before it's due. Capital one also monitors my credit account. If there is an inquiry or change or purchase they let me know. I never roll a balance over. Thats just bad. I understand some folks can't do that and have to roll a balance. They end up owing the CC company for years over a small amount of money
 

robertfootball

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Sep 29, 2006
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I never keep more than $100 on my debit card. I have 2 high limit credit cards that I use a good bit, but I pay them off every week or whenever I use them. I shuffle money around all the time via my bank app. I check my bank statements online every day and luckily my credit cards offer a free fico score check, so I’m constantly watching my credit too. Basically if you’re going to steal from me, good luck. You better move on to someone else because I won’t be worth your time.
 

OzWizard

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Dec 10, 2014
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Can someone explain why they use one or the other?

I have always used Credit Cards because of "float" (used properly allows almost 60 days free interest) plus airline and hotel rewards and or cash back.

Using a debit card...your funds are "sucked" out daily and I see modest income people calling their bank daily to check their balance.

Just wondering...
I never use a debit card for purchases, because if there is ever any fraudulent use, the money is already taken from your account, whereas a credit card company will cover those costs and / or dispute them on your behalf.

We use reward credit cards for EVERYTHING...from big purchases, groceries, utilities etc to a pack of gum (I don't carry cash) and pay it off every month. Currently we rotate between Hilton and Disney reward credit cards. We used to have an airline reward card, but figured we traveled more by car than air...so we switched to Hilton. We haven't paid for a hotel room in 15 years...we even used airline and hotel rewards to fund a 10 trip to Hawaii. Went to Disney World for 3 days in Jan and rewards bought park tickets for 4.
 

Dizzy01

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Dec 29, 2018
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I never use a debit card for purchases, because if there is ever any fraudulent use, the money is already taken from your account, whereas a credit card company will cover those costs and / or dispute them on your behalf.

We use reward credit cards for EVERYTHING...from big purchases, groceries, utilities etc to a pack of gum (I don't carry cash) and pay it off every month. Currently we rotate between Hilton and Disney reward credit cards. We used to have an airline reward card, but figured we traveled more by car than air...so we switched to Hilton. We haven't paid for a hotel room in 15 years...we even used airline and hotel rewards to fund a 10 trip to Hawaii. Went to Disney World for 3 days in Jan and rewards bought park tickets for 4.
We also have the Disney rewards card and since we use it for everything we are allowed to use it for we were able to pay for a week at the Disneyland hotel a couple years ago. We’ve been stockpiling the points again so when they reopen to non CA residents we should be able to take another trip out paying for anything but airfare.
 

robertfootball

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Sep 29, 2006
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And here I was getting all cocky because I just got a First Premier card with a 300 dollar limit and they waived the 99 dollar annual fee for the first year. Then I read this thread.
I’d brag about getting a credit card company to waive a fee, no matter the limit. I won’t ever have a credit card with a fee. They aren’t worth it.
 

Harvard Gamecock

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May 5, 2014
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BTW: There are some cards I will cary a balance (i.e. Best Buy, Home Depot), but only when I'm able to get the 0 % financing for a set period of time. It's crazy not to take advantage of those promotions.
 

gamecock1999

Member
Sep 7, 2005
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Look into DEFI. You can get 7-8% on your money (versus 1%) and you are your own bank.

They now have all of the financial instruments - including CCs.

Everything is available in USD, if so desired.
I was thinking about this but worried about the fact they aren’t FDIC insured. Do you have a sense of what vendor is safest? I thought I saw Blockfi may have an IPO, so that seems like a positive sign, not that public companies can’t go under.
 

robertfootball

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BTW: There are some cards I will cary a balance (i.e. Best Buy, Home Depot), but only when I'm able to get the 0 % financing for a set period of time. It's crazy not to take advantage of those promotions.
Only store card I’ve ever had was an Apple Card. But then the bank they were using was dropping Apple and switching me to some other card with perks I had absolutely no interest in, so I dropped it. USC used to have a credit card through someone but that was years ago. I don’t even think they have one anymore that I know of. If they did I’d sign up.
 

gamecock1999

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Sep 7, 2005
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I never use a debit card for purchases, because if there is ever any fraudulent use, the money is already taken from your account, whereas a credit card company will cover those costs and / or dispute them on your behalf.
I was going to mention this as well. Plus, credit cards will usually provide automatic insurance for car rentals whereas debit cards usually will not.
 
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viennacocks

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Dec 19, 2011
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BTW: There are some cards I will cary a balance (i.e. Best Buy, Home Depot), but only when I'm able to get the 0 % financing for a set period of time. It's crazy not to take advantage of those promotions.
I do also but I cut the card up the second it arrives at the house.
 

king ward

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Aug 10, 1999
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I prefer credit cards. I'd rather get bogus charges reversed than to lose what is in my checking account. Also, credit cards can earn travel points or cash back. If a person doesn't carry a balance, then interest rates are moot. I won't pay an annual fee to keep a card, either. So credit cards paid off monthly are what works best for me.
 
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punydevil

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I use AmEx Cash Preferred for groceries and streaming services. It pays 6% cash back for those. I use Chase Sapphire Preferred for everything else, including monthly bills. I check transactions daily (there may be 3-6 per day typically) and pay my balances daily so it works like a debit card but I get major points. Paid for a trip to Spain in 2019 with points and for a trip to Japan in 2020. Still have about $4,500 in points left on the Chase. Also I don't have the same fraud exposure I'd have with a debit card. (Chase offers Zero Liability Protection. This was helpful in Spain when I woke up on day 2 of the trip in Barcelona and someone had charged $865 at an ATV store in Utah. Why I now carry 2 credit cards since we spent the next 11 days of the trip with just a debit card.) Annual fee is $95 so it pays for itself after I spend $7600 which is basically what I charge to it for the cost of my auto, umbrella, and life insurance for a year. I only use a debit card for ATMs or where gas prices are cheaper if you do.
 

Heyward1

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And here I was getting all cocky because I just got a First Premier card with a 300 dollar limit and they waived the 99 dollar annual fee for the first year. Then I read this thread.
Many many years ago I started with just that. You keep a history on the card and in a year or two you with be offered large balance limits. Just respect the card like you would a debit card. You don’t have it, it won’t work.
 

Harvard Gamecock

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May 5, 2014
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I do also but I cut the card up the second it arrives at the house.
I have had both the Best Buy & Home Depot for years. Stays in my drawer till I want to make a major purchase. Every PC, tablet, TV and appliance I have bought goes on those cards, with 0 % financing (and I usually pay them off a month or two in advance)
 
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cocks rule

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Aug 15, 2004
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Can someone explain why they use one or the other?

I have always used Credit Cards because of "float" (used properly allows almost 60 days free interest) plus airline and hotel rewards and or cash back.

Using a debit card...your funds are "sucked" out daily and I see modest income people calling their bank daily to check their balance.

Just wondering...
Credit card. You Earn cash back, never worry about bogus charges. There are no incentives for me to ever consider a debit card. Never had one, never will. Costco visa is my main card. I’ll get a Home Depot, Lowe’s card for the $100 off a $500 purchase. Pay it off and cancel it immediately. Rinse and repeat. Lol
 
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viennacocks

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Dec 19, 2011
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I have had both the Best Buy & Home Depot for years. Stays in my drawer till I want to make a major purchase. Every PC, tablet, TV and appliance I have bought goes on those cards, with 0 % financing (and I usually pay them off a month or two in advance)
I am with you. I do the exact same thing but I trash my card and close my acct once I pay off the promotion. I reopen if I need to make another big purchase. At one time, I looked at my credit and had about 15 open credit cards from promotions over the years. I closed them all except 1.

I have no problem getting credit now but 30 years ago all the open cards from promotion counted against my future credit.

I also feel there's cyber risk and risk of the cards being stolen.
 

Rhizzlebop

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Sep 30, 2009
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I am surprised how responsible folks in here are as a whole. I use CC for everythin. I try to choose the right card based on who is having double or 5% rewards for what purchase category. Never use debit because if the number is stolen they have your money. If the cc number is stolen they have someone else’s money and those charges are easily reversed. The only time I’ve used debit was a couple times at Costco when I forgot a visa labeled card because that’s all they take. My primary cars are discovers and Amex ones.
I’ve never paid for a flight. Only points plus the tax on the ticket. Over the last 20 years I’ve gotten thousands upon thousands in rewards and signup bonuses. Chase has made the companion pass harder the last couple years but I’ve had it several times from signup bonuses and earned points.

I applied for capital one card once but was declined. Apparently my credit was too good for their ideal customer.
 

NMB Dave

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Feb 21, 2017
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If one has the self discipline to only spend money that they have, I highly recommend credit cards. An average person can make hundreds a year in cash back. I have about four credit cards and use them to maximize cash back in each category. 5% cash back on gas, 2% groceries, 5% home improvement, 3% online, 3% travel, 2% everything else. I use a hotel specific credit card that gets us about 1 night free for every 4 purchased, and then sometimes the hotels run deals even better than that.
Pay off the cards every month so you never pay a cent of interest, but rack in the rewards.

I’d say I spend below average for a small family and we still get at least $500 a year cash back. Bigger spenders would be in the thousands.
 

NMB Dave

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Never use debit because if the number is stolen they have your money. If the cc number is stolen they have someone else’s money and those charges are easily reversed.
This.
I had this happen as a young college student. Debit card number was compromised. Someone spent $130 (fortunately it was low expense) in a town I’d never been too. The bank detected it and froze my account until I contacted them and got it resolved. I couldn’t access my money I. The meantime though. Fortunately I had some cash and a full tank of gas but at the time had no credit cards or other money/banks.
I signed up for a CC the next week so I had another form of payment and have never gone back to debit. Only time I ever swipe debit is at an ATM and it’s rare that I need to take out cash
 

Gamekem

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Apr 3, 2019
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I share the same sentiments as most here,. I use my credit card 99% of the time. The only time I don't use it, is if I encounter a business that has a surcharge that's specifically aimed at credit cards. I like getting rewards for my normal spending and the peace of mind of knowing that if my card gets stolen, then I won't have to worry about having to wait weeks on trying to possibly get my money back.

Having said that I probably wouldn't recommend a credit card for most people, since most can't seem to pay it off. I have not paid a dime in interest since my first credit card and plan to keep it that way.
 
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cocks rule

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I share the same sentiments as most here,. I use my credit card 99% of the time. The only time I don't use it, is if I encounter a business that has a surcharge that's specifically aimed at credit cards. I like getting rewards for my normal spending and the peace of mind of knowing that if my card gets stolen, then I won't have to worry about having to wait weeks on trying to possibly get my money back.

Having said that I probably wouldn't recommend a credit card for most people, since most can't seem to pay it off. I have not paid a dime in interest since my first credit card and plan to keep it that way.
Sane and Same!
 
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robertfootball

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The one thing I hate when using credit card is the $.10 difference I have to pay to pump gas. I’m afraid to use my debit card to avoid the .10 a gallon charge because of so many skimmers.
 
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