Cash debit or credit reddit. Debit card since our stations don't charge extra fees.
Cash debit or credit reddit The preference for cash isn't tied to the amount. As noted already in this thread, the best credit card for utilities is the U. I simply use my credit cards like they’re debit cards. 45. Example: with gas at 2. If you get the cash on the right side then the other side solves itself. It’s not a credit card, but it oftentimes gets mentioned for people because it serves their needs better or works well with their spending. Now they're getting completely rid of that. Debit and credit cards are good to use in Mexico. Now, the reason why I think cc is better than debit is Credit cards are more flexible than debit card. Credit cards fees are charged from the merchant service provider as a percentage of the sale. Debit card since our stations don't charge extra fees. You can also try to buy a Visa/MC Gift Card using your usual credit card, then pay your bills using that. All businesses have portable credit card machines to bring to you. I went to Europe and the only thing I brought was my United card to pay with, and debit card to take out cash with. e. Several places were explicitly cashless. Example 2: Bank gives me $100 as a short-term loan. Feel free to send me a PM with any other questions or concerns. I was out of luck at this point. 17 while a credit transaction can cost about . Only places I see around here with lower cash prices are one-off shops or out in the sticks, but sometimes it's definitely better to do cash. 2% except for After I got the debit card, I linked it to my PayPal account, and then used PayPal's bill pay feature to pay off my credit card bills with my Coinbase debit card. Fantastic value for no cost. The contract determines the cost per swipe, however, the rule always says that debit is cheaper than credit. Then click on generated challan which has dedicated account number with AVEP prefix generated which you need to add as beneficiary for NEFT transfer. Apply for a United credit card. For such a short trip I’d probably not bother opening a separate account, just use cash, credit cards, and load up your Suica card on your phone if you want. You can sometimes choose whether to run a debit card on the clearing network for that (enter your PIN and make a direct cash withdrawal from your account, like at an ATM - hence the option for “extra cash withdrawal”) OR run it as if it is a credit card on that separate clearing network (without a PIN, but sometimes you do need to enter ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), online sports betting and internet gambling transactions, and loan payments or account funding made with your debit card are not eligible for cash back rewards. Therefore, it is much easier to dispute charges on your credit card than on a debit card. 04005 savings per gallon, or 4 cents. I collect all the cash back from the credit cards and have never paid a dime in interest Let not forget with cash transactions you need to pay for a safe to store the money on site, you need you staff to stay on later after work to count money and maintain a till float, you need to pay a member of staff to go to the bank to make deposits and collect change, you need to pay the bank a fee for change and sometimes cash deposits, you It all depends on the merchant service contract. You’ll likely get your money back, but in the meantime during investigation you’re out that money. I don't know why, I don't know the difference but you wouldn't want to learn the fact after eating your dinner in a restaurant with no cash on you. So what is the benefit of the RH debit card? Pennies rounded up and some fuzzy bonuses--also in pennies? I had great hopes for the Coinbase Debit Card which had/has 4% crypto back. The debit and credit card have identical rewards and there is no cash back system. cash discounts at gas stations for debit card users (on occasion) Those cash discounts for debit card users might not be better than the 5% back you could get at gas stations with no AF credit cards. The debit card retates percentage rewards each month (with stellar lumens being listed as 4%, though it's currently at 1% this month 🫥) Did London, Paris, and Amsterdam a couple weeks ago. Money supports credit, but only partially. Carrying cash often has a foreign exchange mark-up attached to it. Example 1: I spend $100 to acquire a $100 laptop. I have looked up the terms and conditions and here's what it says. They did make it slightly harder to use with the last website redesign, so now it's a little more hidden, but just as easy to cash in. Maybe the median Princeton undergrad who was volunteered to participate in a research study directed by their Psych 101 professor where they played some board game with cash versus credit cards spent more with one than the other. If you are doing an in-person purchase either of the three is OK, on-line I always use a credit card because a debit card purchase is the same as cash with very little protection for the buyer. So, if your business were to take out a $5,000 small business loan, the cash you receive from that loan would be recorded as a debit in your cash, or assets, account. Honestly, could you imagine all the issues if Discover allowed their debit cards to have a different style or look like the credit card. Now you have none of the security of a debit card and all of the downside, because that money just came right out of your account and can take WEEKS to reclaim. My dentist offers a 5% discount if we pay with cash/debit a week in advance (generally major dental work like fillings) but they still provide the receipt and it's still submitted to my insurance for claim. All part of the deal being on vacation. The interest will show up on my next statement. This is the "cash advance fee. Be sure to read sub rules before posting, use the resources linked in the sidebar / about section of the sub, and use search to see if your question has already been answered. It is also easier (and faster) to reverse charges. If you remain unconvinced, then I'd say even carrying around cash is better than using a debit card if you're wanting to control spending. The only reason to use debit over credit cards is if you use a budget where you essentially pay “cash” for everything. I never spend more on a credit card then the money I have sitting in my checking account so that I can pay the credit card off in full each month. 015 = $0. Here's a question, most places that charge a fee for using a card, that only includes credit cards, right? Debit cards count as cash and will not be subject to a fee, right? Because I might just have to add a Discover or other bank's Cash Back debit card so I can get at least 1% back of I'm not able to swipe my credit card and come out on top. For "non-utility" bills such as rent, property taxes, insurance, home/car maintenance, etc. My electric and water companies do charge a processing fee for debit and credit card payments that somewhat negates the cash back I get while my gas company does not. ) Always use a credit card to link to your onboard account. It got encouraged as "cleaner" way to pay since even if we used primarily cash, physical money is seen as dirty. My credit card gives me at least 2% back on everything and I pay it in full every month, so I don’t see a reason to ever use cash. 10 cash back on each transaction, which would be tough to beat on a $. Liabilities increase with a credit and decrease with a debit Revenue increases with a credit and decreases with a debit Expenses increase with a debit and decrease with a Debit Expense Asset Dividend. If you do take some out you can always use it at a cafe or on snacks or a meal at the end of your trip. Debit cards prevents you from over spending since it directly withdraws from your account. So I always get some kind of a discount. The cash back is super easy to use, just apply to pay off your credit card, or I think cash it into a checking/savings account. It’s all good. Know the payment status of the country: US - still with some cash only stores, Australia - 99% cashless. For a debit balance from unsettled activity, this is the amount that you must deposit into your brokerage core account by the settlement date. For me, it's all about the protection. 99/mo iCloud subscription. These don't seem to be able to be used like cash and don't have some of the upsides of credit cards (points, if I return items don't need to check that card balance is updated, etc) That in turn can set him up to get much better credit card offers once he’s old enough. Some ryokans and minshuku only take cash, especially in the countryside. REFER CUSTOMER TO EQUIFAX". I'm leery of using at the pump credit readers - dont want to have a skimmer read my credit or debit card. For gambling yes cash is the only option. ) I love how they say they're making their cash card better, but it's not. When the customer eventually pays, it's an increase in cash so again a debt and a decrease in receivables so a credit. That profit covers the 85 cents you saved by coming If you are then using a credit card and paying it off every month makes sense. There are a few banks and credit cards that allow for zero foreign transaction fees. If you credit card info gets stolen then you might only lose part of your max balance, whereas if your debit card info gets stolen you lose access to your actual money. A debit card works the same as cash, but comes with the same protections as credit (which is why I don’t understand why people keep saying there’s no fraud protection…unless you’re using some pre-paid debit card, there absolutely is fraud protection). The Apple Credit card has 2% cash back on Apple Pay (most retail now takes Apple Pay), and 1% cash back on everything else. That's generally the cheapest way to get any kind of currency, assuming you don't have a bank account in the country. All mid to higher end shopping and nearly all dining locations inside malls accepted Visa, Mastercard, or Discover, but none accepted Amex. Switch dentists In the fine print, Discover mentions that ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), online sports betting and internet gambling transactions, and loan payments or account funding made with your debit card are In a lot of posts, people recommend getting the target debit card because it’s free, doesn’t take a credit check, gives free target shipping, and 5% off all target purchases. that I keep on hand “just in case” but never need to use. Again it depends on the contract but the cost ratio is 3/1 credit v debit in terms of merchant I usually do credit cards though for payments or 'cash'. The thief has direct access to your bank account. Sometimes cash is easier and cheaper. Only credit and pay at pump costs more. ) IDK your financial situation but assuming you have an income that allows you to pay off your cc in full each month this is how you should be using Don't use your debit card to buy anything. If you have money market or cash fund available, they'll be used to pay for the debit in a day or two. If someone steals CRedit's main goal is to improve your credit, keep it healthy, and support you in decisions that you make that may affect your credit livelihood. Fees for debit cards are much lower since the customers pays a share of it through its bank monthly fees. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. Some banks as well as Visa/MC offer purchase protection. In general, credit cards are better than debit card because with a credit card it's the issuers money instead of your money. Pretty much all trains and subways take Suica or Pasmo cards. Call the card first to make sure they don’t charges conversion fee (same with debit card) which can be as high as 3% on all transactions. CCs are designed to get consumers to spend more. See full list on wikiaccounting. Just withdraw money from an ATM with your home debit card. But it also requires that you DYOR if buying it with cash, the merchant gives cash transaction discounts, would be cheaper than paying via credit card. fee (500 + 18% gst) for the basic accounts (accounts where Millennia DC is not the default provided DC and accounts which don't have the option to pick free DC). Discover also has 1% back debit card on the first $3000 spent monthly, but several posts have said it may exclude PayPal/bill pay. Hey there! To clarify, the standard black or white Cash Card is free when signing up with a new Cash Account and can be used anywhere Visa is accepted. The cash back for discover debit is cool it's better than just using a regular debit card where you get nothing I average the maximum $30 cash back monthly (Only get 1% on up to $3,000 monthly). For example, the Square Cash debit card frequently has a "boost" for 10% off a grocery purchase. At the station I worked at if you came in to the counter to pay with cash, check or debit, you get cash price. You can monitor the line item "Cash Available to Trade" on your Balances tab in a non-margin account to keep track of your remaining purchasing power. We are here to support you if you need an advice on closing/opening a credit card, improving your credit scores, removing inaccurate information from your report, qualifying for a new card/mortgage For example, the Discover Cashback Debit card gives 1% cash back up to $3k a month. When you get cash via revenue you make the exact same entry except this time instead of liabilities increasing, revenue (and therefore owners equity) is credited in order to increase it. From $800 to $350 just seems like a shotty job that'll be done. I'm now able to pay rent with a debit card with a $3. If you’re good at budgeting, that will be a better way to control your spending. 5% back from the credit card, but then get an extra 1% back from the debit card used to pay the credit card, totaling 2. true. Always use credit card when traveling. Another example, Cash App has a debit card which offers some great discounts or "boosts" which is cool but for a variety of reasons you need Credit is also a bit more secure than debit. An easy way to tell how much money you currently can spend is to find the lesser of "Available to Trade Without Margin Impact" and "Available to Withdraw - Cash Only" in the Balances tab. Although in the US at least, debit cards offer much of the same protections as credit cards if fraud is encountered. So, yeah, people still prefer cash. There are a plethora of 2% cashback cards on the A subreddit for discussing credit cards. Visa / Mastercard / Apple pay are your best bets. But you can use most international cards at places like 7-11 or Japan Post. It ties into the weird and persistent myth that paying some interest on credit card balances helps your credit score grow because companies want to see you paying interest. I have my credit/debit as backup card and only deposit like few days to 1 week of cash to wise With wise you see in real time whats happening (app) and can change to whatever currency before withdrawing at good rates. If you compare debit card to credit card, they are both easy to swipe. Reply reply doesn't apply to credit cards. Probably use debit for about $100 a month. It has nothing to do with building credit or the rewards. But using credit is also dependent on your ability to live within your means. credit cards make issuers money, so I am from a country where paying in cash was the norm 10 years ago but with the pandemic probably over half pay with debit/credit cards now. com What is a debit? In double-entry accounting, debits (dr) record all of the money flowing into an account. In You've already gotten tons of replies about why credit cards are better than debit cards. Our goal is to help Redditors get answers to questions about Fidelity products and services, money movement, transfers, trading and more. Since the WS cash card only works on the Mastercard network, it won’t work at these merchants. Just some advice: Never loose sight of your card when paying. Or alternatively, Revenue is credit because it makes Net Income bigger, increasing Retained Earnings, and therefore increasing equity So coming back to your example (debit cash, credit salves revenue), it works because you had an increase in an asset (which is a debit), then an increase in revenue and therefore equity (which is a credit). It’s a good way for people who can’t use credit cards responsibly to overspend. Don't buy a huge amount of cash but keep some just in case. I haven’t carried my debit card in years, and haven’t used the ATM in probably 8 years. I can ‘cash out’ (send money to my discover account) but not send cash in from my discover checking account. Banks work harder to resolve issues when it's their money than when it's yours. I use my credit card on google pay nearly all the time. These types of accounts all have normal balances of Debit. Some will and some won't. ” But you have a misunderstanding about cash and credit. I logged in and unfroze my credit for one day, and we tried again. Nearly everything else has a normal balance of a Credit in beginning accounting. A credit card will likely always refund fraudulent purchases. In some countries there is a blurring of the lines between a credit card and a debit card, to the point that people actually aren't sure what they're paying with (which can sometimes be problematic): for example, you're almost certainly using the debit function to withdraw cash, but the credit card function to make online purchases although if you're using your UK Visa card in a German cash Affinity Federal Credit Union has a 1% Cash Back Debit card with a limit of $1000 ($10 back) I use this monthly on paypal bill pay and can confirm this works. If someone runs off with it, you may have more difficulty getting your funds back. Which of these increases or decreases the account depends on what the account is. You also mentioned being worried about security, and in that aspect you’re correct that a credit card is better than a debit card. Carrying a balance won't increase your credit score. Conversely, a "Cash Credit" is applied when you sell a security. Credit cash (decrease), debit Fixed assets. app/3080. 5% APY. Credit cards should be used if at all possible so if there is a fraud issue you can dispute the charge. Random small shops might be cash only. Assets increase with a debit, decrease with a credit. Usually the studies compare credit card to cash. You can learn more about ordering a Cash Card here: https://help. Pay rent - increase rent expense (debit) decrease cash asset (credit). I called customer service and asked if the fee can be waived. Beyond that, credit will typically win out. The manager approved waiving the fee, but told the rep to tell me I will still be responsible for the interest charges. The new property I rent from their online portal recognizes my CB Debit as being a credit card, I guess just because it sees Discover and assumes credit, so it wants to charge the percentage fee instead. By doing this you keep your utilization low, have better fraud protection than if you were to pay with cash or debit, and reap the benefits of credit card spending (cash back, travel rewards, etc. Your best exchange rate will be through an in-country ATM withdrawal. Update: The cash advance posted, plus a $10 cash advance fee. Although the cash doesn't settle for T+2, Fidelity will typically let you purchase additional securities with these funds immediately. Debit cash (increase), credit note payable (or other appropriate liability account). instead of using your cash when you buy something expensive, you can instead keep the cash in your savings account, ideally a high interest saving account, and earn interest for at least a month. There is no hard pull required and no extra account to manage. To me, the "risk" of using a debit card for cash is worth the savings. so when you call with a dispute, this is just costing them money, so it’s not a priority. People have their own reasons for using either. It increases with a debit and decreases with a credit. Cash vs debit is a convenience vs risk question. Approach #1: Paying rent with credit cards (if you’re landlord allows it) The best cashback credit cards for all spending is a flat 2% cashback card, either Wells Fargo or Double Cash, if you don’t have tens of thousands parked at a bank. Have had my Discover Cashback Debit card for about a month now, and love it, but for some reason I can’t add cash to my CashApp using the card. Even though it acts like a debit card (spending your own money instead of credit), it’s only processed on the Mastercard network. This is a chart to determine how to pay at the gas station when given different prices for Cash v. *(I already have credit/debit card, this is for someone else that needs and can only get a Debit card atm) I am looking for a Debit Card that's $0 monthly/maintenance fee preferably, (or no more than monthly $2 fee but would rather $0 if possible) that has cash back, preferably higher cashback (2% or more) but 1% is also fine as long as the cashback isn't a scam and can be added/count as The biggest problem with Debit vs Credit is let’s say by accident you put your Debit number into a fake site. The real benefit to the discover debit is paying your taxes (flat fee) or rent (often flat fee, rather than % fee). Credit cards aside because I know credit cards offer higher rewards, I'm more curious about the different benefits between a checking account with 1% cash back ie discover cashback debit card vs a checking account that offers 3. What is a credit? Credits (cr) record money that flows out of an account Nov 14, 2023 · With credit, you can take advantage of some key benefits you don't get with cash or debit cards. Honestly for travel I would use a credit card and not a debit card. Just like a money transfer. Recommend you use a credit card instead of debit card for purchase protection and in case of fraud or loss. (Thankfully, I had some USD still in my wallet for the hotel to convert across the street. The incentive is to get you INTO the store because the majority of the time you'll drop another ten bucks on snacks. But for example if you are getting cellphone insurance through your credit card, using your credit card might still be better overall. So for every account I see, I think: While there are multiple ways to finance your trip, such as using credit or debit cards, or the age-old method of carrying cash; credit and debit cards may have applicable interest rates that banks charge, which can be heavy on the pocket. Will it be possible to use this card to get cash from supermarkets? Other cards like Wise and N26 have limits on ATM cash withdrawals. There are a few debit cards with beneficial perks in niche situations. Since Jessie's out on leave, the duo have taken over for the summer and on a recent episode they mentioned using Debit Card vs Credit Cards. They give your chips that you turn in for cash when its time to cash out. No credit cards. If you only want a debit card, the only thing I can think of is the Cashback Serve Card. Is there any debit card people recommend here or use for paying rent to maximize rewards or cash back? I see the Discover debit card as one option with 1% back, just not aware of any others. Do not exchange money at the airport or at your local bank prior to arriving. It is a debit from a recent withdrawal or purchase. Station owner doesn't want to pay processing fees for credit card transactions. I keep cash on me for random small purchases, like lunch at a food truck or something. Commerce will have monthly and per transaction fees for debit cards and credit cards. EU regulations kicked down all credit card interchange to 0. Cash was useful for the occasional tip, and one grocery store we visited was debit-or-cash-only so our US credit cards didn't fly. I feel like I haven't seen cash back debit cards really being talked about. You're free to test it out though if you want. Maestro is still the default - while last july was indeed supposed to be the deadline for all companies to at least accept mastercard debit and visa debit as well and banks to stop giving out maestro cards - that has been postponed to "somewhere next year". Cash advances on Credit Cards or to bypass your Debit limit are considerably higher. sounds like it is better for the savings interest, cash back debit(do most my spending on credit cards that have higher cash back/ Mr. s. You can always settle your account before the end of the cruise with other means of payment (cash, debit card, other credit card, etc. Noted on this, how about withdrawing cash using debit card from ATM machines abroad, hindi rin ba sya safe? Heard kasi na mas mura yun compared if magpapa money exchange ng cash. There is no "positive" and "negative", just Debit and Credit. Since I do most of my spending as debit, I would love to get a cash back debit card! Credit card usage make people fall to “over spending”, which is not OK To accept credit card, a business have to buy additional equipment and trained their staff. With a credit card there's no risk of scammers draining your bank acct. It offers peer-to-peer money transfer, bitcoin and stock exchange, bitcoin on-chain and lightning wallet, personalised debit card, savings account, short term lending and other services. But that’s just me. Cash App is a financial services application available in the US. Honestly debit cards and cash are not safe. Most people are denied when applying online (including me) but I found one at Dollar General. If someone gets your debit card and pin, yea, they can drain your bank account but a credit card is not connected to a specific bank account. They have a decent savings account too. Cash is an asset. I’ve tried the all credit card method and I spent more and saved less due to the nature of not having to worry about how much was in my account at a given time. Credit cards companies will absolutely wipe charges that are proven to been done by fraud. The only time I use cash is if the person I’m paying can’t take credit cards or a cash app. I like to have about 20-40 USD cash for incidentals, random hot springs that ask a donation in cash, some coins for pay toilets (which also take card) but you can get by with no cash. "ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account In my view, there are only two reasons to use a credit card over debit: 1) safety 2) rewards. Use this chart to determine if you have the minimum cashback % rewards on your credit card to pay with a credit card. Must be a credit to the liability account. Which means using your debit card would be more comparable to the credit card. If a waiter wants to take the card with them, tell them you will açcompany them to the credit card machine. In my life there is literally NO situation where I would need my debit card over a credit card. 5% back. Just finished opening another account elsewhere with 0. 5% rewards, that's 2. Cash is used at the point of exchange, when goods are bought and sold. Neither cash nor credit burns a hole in my pocket, so I don't make a decision based on that. , the best credit card for you is likely to be a flat-rate cashback card. To me it seems the debit card is the way to go. Say you had a debit and credit card with them and went on a little shopping excursion, thinking you were using your credit card for the 5% category and boom come to find out/realize you were using your debit card the entire time. When you buy $100 worth of groceries with a credit card, you pay the credit card company $100, and the credit card company sends the store $97 and keeps $3. So that sucks lol. Debit or credit chip cards are accepted nearly everywhere. Personally I don't use a debit card for anything but ATM withdrawals, because (at least with US banks) I have a lot more protection using a credit card than a debit card. you can easily see your balance at any time on your cards website or app. Just be aware of whatever the fees are. If they're used for supermarket cash withdrawals, does it count as a normal purchase? If you take a cash advance, you pay a service charge just for doing that. Debit chip cards work in their ATM’s. So even if you pay it off at the end of the cycle, you will be paying that high interest rate on your cash advance. Buy some lira and use cash because some stupid POS machines here don't work with foreign cards. For an asset balance sheet account (cash, accounts receivable, fixed assets), a debit will increase the account balance and a credit will decrease the account balance. As far as I’m aware, there is really no way to get cash back on a mortgage since that can typically only be paid via bank account and routing number. . I currently use an out of state credit union for my main bank so the brick and mortar thing is no big thing with me. most banks do - but try to use those protections sometime, and see what a huge pain in the ass it is. I currently have a checking account/debit card with a fintech "bank" and don't really have the best experience or relationship with brick and mortars. Fraudulent credit transactions are generally easier to take care of(get refunded) than fraudulent debit transactions. Main reason I put some money into Robinhood cash management was for the (at the time) 3% APY. I used card entirely the last two times I was in Europe, didn't bother with getting money from an ATM and had some leftover euros from a previous trip, didn't spend cash once, even for very small purchases You can't think of debits and credits like a bank does. 2% for debit), and the number of non-EU/EEA countries in the continent can't really be described as "many" at this point (Switzerland, Monaco, Andorra, San Marino, Serbia, Kosovo, Montenegro, Albania, Moldova, Ukraine EDIT: Forgot the UK, but they kept it at 0. Some credit cards have better cash back. USAA's rewards debit card gets $. Combined with my getupside app and any grocery points I have. "Cash is an asset, therefore it increases with a debit and decreases with a credit". Debit is still more convenient than cash if for whatever reason credit isn't an option. Taxis are sometimes cash At the end of your cruise, your linked card gets charged whatever balance is remaining in your onboard account. But that’ll be eaten up by the credit card processing fee usually if you try to pay rent with it. Credit card companies make their money on transaction For international debit cards I like Charles Schwab. He gets cash from an ATM with his credit card. Any cash that I have was usually given to me in Christmas cards etc. This amount includes the crash credit or debit from unsettled activity as of yesterday’s close, as well as today’s activity. We were able to use credit cards for the majority of our larger transactions and only a few places did not accept credit cards. If you transfer the rewards over to the IT, they shouldn't match it. For example, get 1. ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), online sports betting and internet gambling transactions, and loan payments or account funding made with your debit card are not eligible for cash back rewards. S. Ni hindi mo nga pwede gastusin lahat ng pera mo sa banko if you're more than the threshold pero sa cc pwede You're more protected. The vast majority of debit cards can also be used as credit cards. Depending how much cash you need, you could maybe save a bit more by spending at least 10 € at ALDI and then you can ask to add up to 200 € in cash withdrawal to But a very good first card nonetheless. Credit card rewards are above 1% which is above the discover 1% reward. But you will need some cash, depending where you go and what sorts of things you want to pay for. So if the cash discount is more than 4c/gal I'd go with cash. You put cash into slots, you throw your 100 on the table for table games. You're getting confused because you're thinking of absolute balances as debit/credit (ie cash is an asset so a debit) rather than thinking of the movement in the balance (asset gets bigger - debit, smaller - credit) A debit to cash increases the cash balance; A credit to cash decreases the cash balance; and Follow the cash. Edit: This is still not accurate though. Definitely do the math. g. Not sure how it is in other countries but in the US a credit card will offer fraud protections the debit card doesn’t have so if a charge shows up for $75 at Smith’s restaurant and you know 100% you never went to Smith’s on a credit card you can dispute the charge but with a debit card you’re out of luck. 3%/0. That's about as much of a discount I get paying cash. Rather, it depends on the situation and the circumstances. Carrying a debit card is like carting around a portable hole that leads directly into your bank account. Since checks have become extremely uncommon in Germany after the Eurocheque system was phased out in the early 2000s, financial transactions are mostly limited to three general kinds: direct deposit/withdrawal, cash, and credit/debit Not every place takes debit/credit cards, you can get charged fees to use them or forced to spend some minimum amount. Millennia DC can be issued against any savings account but then you would have to pay the initial 590 Rs. Another option is using Target Circle for 1% back with a 2% cash back credit card. Bank Cash+/Elan Max Cash Preferred, for 5% cashback. The first and most import thing is safety: if you use a debit card, you are using your own money; if you use a credit card, you are using the bank's money. Only use cash when necessary and only use debit card at ATMs. I think it’s a great card to build your credit and then get a different card once a year has passed. Aside from the cash back/points on credit cards, there are many that don’t have international fees and are safer. The banking system is a fractional reserve system where much of what is loaned in credit is not backed at all by any assets. A debit purchas will cost a retailer about . Edit: after conversing with everyone here. Pretty much no one uses checks I have a non-EU card that charges hefty fees on ATM cash withdrawals but less so on purchases. Credit cards offer some level of protection against fraud. When traveling, it pays to have a small stash of local currency to cover for instances where credit card is not accepted: eg flea shops, street food, etc. We used around 70K JPY in cash and 150K JPY in credit card transactions. For NEFT/EFT - enter the recipient (another badly unexplained set of text boxes) - enter your local address/name. At the most basic level, credit cards got higher limit of usage than debit card. It depends on the price per gallon, credit card rewards, and the difference in price between paying cash or credit. While cash and money transfer do not require that OTOH, cash is money NOW, on your hand, that no one but you can spend. Cash for: Gambling taxis (or $3 extra for credit cards) strip clubs (lots of credit card fraud - just leave it in the hotel safe) tips (you can always add tips at bars/restaurants on credit card, but if you’re tipping a bellman, cocktail waitress in the casino, etc you’ll need cash) Credit cards required: hotel check in Normally most places and services will take credit/debit cards though you do find the odd place here and there that only takes cash, especially if you go further north. 67 X . If you can't use credit responsibly, it will definitely end up costing you more to use credit. They mentioned on the podcast that one of the pros of using Debit/cons of Credit, is the tendency to spend more if you're using Credit. Avis' computer said "DO NOT RENT. cash. They match all the cash back you earn the entire first year. debit cards are something banks sort of have to give you, but they wish they didn’t because they don’t make any money off of it. Debit card still require processing fees as well. If you spend more and save less while using a credit card then I would use a debit card/cash. Essentially you get a 5% discount on all eligible items. The easy option is just have £50 in cash on you and ask if they prefer cash or card. For regular purchases, there is no reason to use a debit card instead of a credit card. Gas stations use a third party that runs both debit cards and credit cards. This isn't really true. 67$/g, if you have 1. I strongly prefer using credit cards over debit cards. Credit/Debit. 2% APY on the first $2500, and their customer service is great. Merchants that accept debit only, really only accept Interac payments. Must businesses accept them now, but ask first. I never use a debit card to pay for things. 3% (0. Definitely, but the fact that the average person that holds a credit card has about 10k in credit card debt, means that many people who might be dealing with debt and money problems, would have a spending issue and credit cards serve only to make the spending issues worse. My credit isn't in the best place right now, so while I slowly rebuild it, I've been using debit. Sep 4, 2023 · You should use both debit and credit cards, as credit cards provide credit-building benefits and money-saving perks while debit cards give you easy access to cash. 339 votes, 633 comments. So effectively for the first year you earn 2% cash back on everything and 10% on those rotating categories which are pretty decent IMO. If your credit card offers "rewards" / "cash back", the credit card company gives you $1 and keeps $2 instead. In cases where credit card surcharges are higher than your credit card or where credit cards are not allowed then the discover debit account is a good deal. Only use it at a trusted ATM to withdraw cash. Reply reply I asked the counter rep what credit bureau they used, and she said Equifax. " In addition, the amount accrues interest from the day you take it. Even though I had enough liquid cash to purchase the car, they would not rent it because Equifax said not to. The vast majority of money isn’t physical at all. I'm not sure what you mean by linking the target debit with the discover debit. Didn’t get my first credit card until I was 43. No credit card fees for the first year, and no fee for using abroad. you have credit card debt or don't qualify. Going to slowly move some money over there. So I'm the exact opposite of you and have peace of mind when I pay cash (plus my local Arco has the cheapest prices and only takes cash or debit, and I usually fill up during daylight hours). Once the debit account hits zero, you stop spending. I get that. While this is certainly safer, it is also expensive. The discover cash back checking account can be beneficial if you cannot use a credit card. In the past, when I've had problems with a transaction, the cc companies help me out and the debit card companies tell me there's nothing they can do. Eg in some towns, the local bus only takes cash. upvotes · comments I mostly use credit cards when traveling, but of course keep some cash for small purchases and for the few places that won't take cards. If you want the cash back always put your pin in to make purchases if you just run it as credit you do not get the cash back feature. Are there certain situations where it makes more sense to use a cash back debit card to pay for items, over a credit card when it comes to rewards? At a previous property I rented from I used CB Debit because of the fixed fee being less than the CB I’d earn, it was cool. 25% apy ie sofi checking account What are the pros and cons between the 2 checking No US CREDIT cards do not work. LPT : Get in the habit of using a credit card instead of a debit card when shopping online or making a large purchase. The biggest reason people use credit cards specifically is to get small amounts of cash back (essentially getting 1-5% discounts on everything they buy within a certain category) not to mention that by building a high credit score, you’re more likely to get lower interest rates on loans ranging from mortgages to car payments. the 1% discover cash back debit card would definitely serve a good purpose for people who don’t do credit cards or for recovering credit addicts who still want cash back but aren’t responsible enough to have a card. A bank loan) you debit cash (because the cash increases) and you credit liabilities (because your liabilities increase. Now most transactions are going to involve cash in some way. All major credit cards provide $0 fraud liability guarantees, so you won’t be responsible for any unauthorized purchases. Even though it’s beneficial to have both, mainly using a credit card for purchases will give you superior fraud protection and more rewards. (Since debit cards on Venmo don't incur the 3% fee like credit cards). So if someone steals your debit card they just run it as credit. For a liability balance sheet account (accounts payable, wages payable, short term debt), a credit will increase the account balance and debit will decrease the account balance. Keep in mind, by using the debit version, you do not get any of the consumer protections unique to credit cards (fraud liability, chargebacks, etc). Some banks allow using a debit card to pay credit cards Some debit cards give cashback Now, I was wondering if it would be possible to combine these to get extra cashback. example: you borrow $100,000 So you revive cash, cash goes up, that's a debit to cash. 95 fee. Only use a credit card or cash to make purchases. The interim while it's being investigated can be an issue though. Had to deal with ATM debit fees which is unavoidable. Credit cards have added perks such as points back, warranty extensions, and someone in your corner if the you know what hits the fan. In which case, I would go for the Affinity Federal Credit Union cash back debit card. The debits and credits of banking seem backwards to you. Now that Canada allows commerce to charge customers for different credit cards purchase, I'm curious to see how it will evolve in the near future. Because this debit card was connected to my main checking account I basically got an instant fee-free transfer to my checking account, and I was able to immediately use the money to pay off credit cards. We are a mostly cash economy in our house so gas is one of the very few debit card uses. tigpkq oqqfje osai yhlihbm wgtbtc epvmlg ytptb ofv qthbfc ozd