• Gamecock Central Alerts and Newsletters

    Join thousands of fellow Gamecock fans and stay up-to-date with our free breaking news alerts and newsletters.



    You can close this message by clicking the X in top-right corner of this box

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

Silverspur02

Well-Known Member
Gold Member
Jan 26, 2006
13,536
22,387
113
Lexington, S.C.
Its really amazing how credit card companies can afford to give points and cash back to everyone if they're all paying their balances every month.
Two things... For every person on here that is paying their card off each month, there are at least 5 times as many that don't/can't. With the interest and penalties for not paying it off or missing the payment deadline, the credit card companies are not missing anything.

Giving points is just the icing on the cake to make you use them...

American Express Cash Back credit card and Wells Fargo Visa card holder. Only got a debit card last year because the banks wouldn't let you go inside and a couple of times I had to use the atm. Only used it twice. Now locked up in the safe.

Also just got a Verizon Visa. They give cash back or you can reduce your monthly cell phone bill. Paid my Football tickets for this year with it, and now get $88 off my cell phone bill this month.

Ain't life grand???
 
Last edited:

Carolina Doc

Member
Aug 16, 2019
417
521
93
Lots of people overly concerned about credit scores. I suppose that pressure is what lenders like for people to be obsessed over.
 

hahnenkampf

Well-Known Member
Aug 7, 2005
4,807
1,115
113
Two things... For every person on here that is paying their card off each month, there are at least 5 times as many that don't/can't. With the interest and penalties for not paying it off or missing the payment deadline, the credit card companies are not missing anything.

Giving points is just the icing on the cake to make you use them...

American Express Cash Back credit card and Wells Fargo Visa card holder. Only got a debit card last year because the banks wouldn't let you go inside and a couple of times I had to use the atm. Only used it twice. Now locked up in the safe.

Also just got a Verizon Visa. They give cash back or you can reduce your monthly cell phone bill. Paid my Football tickets for this year with it, and now get $88 off my cell phone bill this month.

Ain't life grand???
I have the Chase Freedom credit card (the basic Chase credit card that’s no fee), but I’m also a Chase Private Client. As such, the bank refunds all ATM fees by non-Chase ATMs. For instance, two days ago I needed some cash but the only available ATM was at a Love’s truck stop. The ATM as non-Chase and advised that a fee of $3.95 would be assessed. That’s four percent on a $100 withdrawal! After I made the withdrawal, I checked the receipt and sure enough it showed a $103.95 withdrawal. I knew Chase would refund the fee so I didn’t worry about it. I went online yesterday to check my Chase account and sure enough, Chase had refunded the $3.95 fee. I love my Chase Private Client account because it links my Chase brokerage accounts with my checking and savings accounts. The requirement for private client status is $125,000 in account total assets (checking, savings, brokerage, CDs, etc)
 
  • Like
Reactions: Silverspur02

csmedley

New Member
Gold Member
Sep 1, 2010
8
20
3
Debit cards do not influence your credit score and do not help you build credit.. Credit cards do. If you pay them on time and keep the balance due less than 10% of your available credit, you will increase your score over time. If you take out a new credit card or loan, your score will temporarily dip. Do not take out too many credit cards and do not cancel them if possible. The older they are, the more positive impact they have on your score.