Comments on CreditMattersBlog.com: Debit-Card Use Overtakes Credit

I don't think the U.S. banks are quite that worrie...

2009-05-02T22:32:44.645-04:00

I don't think the U.S. banks are quite that worried about this trend. One has to remember that they get to screw most of the same people (low income, living paycheck to paycheck) just as badly if not worse on debit cards as they do credit cards.

The biggest problem with debit cards, when charged as credit anyway, is the fact that transactions still float just like credit card

"Check it out." No pun intended! LOL!

2009-05-01T17:07:36.945-04:00

"Check it out."

No pun intended! LOL!

Thanks Anon @ May 1, 2009 1:47:00 PM EDT! I will ...

2009-05-01T17:06:36.887-04:00

Thanks Anon @ May 1, 2009 1:47:00 PM EDT!

I will chieck it out after work!

I wonder if the increased debit card useage is rep...

2009-05-01T15:54:48.842-04:00

I wonder if the increased debit card useage is replacing credit card payment, or is replacing cash/check payment? Is this a result of people avoiding or not being able to use credit cards? Or are more people finally adopting 'plastic' payment mode?

Will we see debit-card's lower transaction costs motivate merchants to give customers an incentive to use Debit versus credit cards?

VR - I don't have a rewards checking acct (yet), b...

2009-05-01T13:47:15.297-04:00

VR - I don't have a rewards checking acct (yet), but I recently found a link to this list:
http://www.highyieldcheckingdeals.com/2008/03/high-yield-reward-checking-accounts-by.html

Applause! I like using my debit card and getting ...

2009-05-01T11:21:29.437-04:00

Applause! I like using my debit card and getting cash at the register with no ATM fee! Also this way I do know I don't have to worry about a credit card bill at any time during the month or ever!!!!!!! LOL

CiifIcare

Anon @ April 30, 2009 5:46:00 PM EDT Thanks for ...

2009-04-30T23:14:50.467-04:00

Anon @ April 30, 2009 5:46:00 PM EDT

Thanks for that info. I did not know that checking accounts have rewards. Well, my bank better watch out, because I may just be on the prowl for those types of checking accounts.

I need a head start from those who have already established these types of accounts.

Very nice, V. Good work!

2009-04-30T23:08:30.598-04:00

Very nice, V. Good work!

Speaking of groceries (excuse my penchant for goin...

2009-04-30T23:07:41.076-04:00

Speaking of groceries (excuse my penchant for going off-track), I use the reusable bags that the grocery store provides. Mine cost $1, but I get 5 cents back for using it while shopping.

Doing my part in using less plastic. (Oh, now isn't that ironic! LOL!)

And they do provide those things too -- including ...

2009-04-30T23:03:48.934-04:00

And they do provide those things too -- including rewards. I've earned almost $200 in cash back on my Chase Freedom card. I have not redeemed the cash yet because when you get to $200 Chase throws in an extra $50, making my cash back $250. Can't beat that!

Then we're both right! Plus, we get the rewards, ...

2009-04-30T23:02:28.628-04:00

Then we're both right!

Plus, we get the rewards, as well.

In the past, when I was using my debit card for groceries, I was missing whatever rewards because I was too stubborn to apply to credit cards that provided them.

That all changed in 2008, when I got my Penfed.

I'd like to think that you're right. My cards act ...

2009-04-30T22:58:17.518-04:00

I'd like to think that you're right. My cards act as same as cash. I charge during the month. I pay after the statement cuts. I don't pay interest. Same as cash.

"...credit cards provide"

2009-04-30T22:57:52.084-04:00

"...credit cards provide"

I dunno if I'm always right, LOL! I was referring...

2009-04-30T22:56:54.672-04:00

I dunno if I'm always right, LOL!

I was referring to my previous comment that credit can be same as cash as long as we PIF?

Except we get the benefits that the cards provide, as far as protection, warranties, rewards, etc.

Not sure what you're referring to, V, but you're a...

2009-04-30T22:46:50.947-04:00

Not sure what you're referring to, V, but you're always right. So whatever it is, yes. You're right!

Am I right?

2009-04-30T22:46:02.943-04:00

Am I right?

I need to clarify my comment this morning about my...

2009-04-30T22:45:11.068-04:00

I need to clarify my comment this morning about my using more credit than debit:

I PIF.

There, credit can be same as cash.

;-)

I used to be huge credit card guy and carried (sti...

2009-04-30T20:50:37.062-04:00

I used to be huge credit card guy and carried (still carry) some huge balances I have been paying off over the past couple of years. But the aggressive tactics of Bank of America have left me (a) opting out of all increases and switching to straight up cash for my wife and myself save a few purchases a month for convenience on an old card I have.

I agree with prevoius comments here

Its unbelievable that people actually use Debit ca...

2009-04-30T18:26:44.183-04:00

Its unbelievable that people actually use Debit cards over Credit cards. I think that is a big NO-NO. the reason is Debt cards have less protection than credit cards. Using Debt cards can really screw up your account at the Gas station, because Gas stations take out 75 dollars and hold it a few days. Its less a problem than for credit cards, since they've been doing it years. I would love to

I also think that the reason debit card use has in...

2009-04-30T17:46:53.125-04:00

I also think that the reason debit card use has increased is due to the launching of rewards checking accounts over the last year or so. And these accounts have gained popularity with the fatwallet crowd who are looking for higher interest rates. I myself recently signed up for my first rewards checking account and since I have to make 10 purchases per month on the card to earn the higher rate

Thanks azntg :o)

2009-04-30T17:17:15.296-04:00

Thanks azntg :o)

This makes me wonder... What exactly will banks co...

2009-04-30T17:13:04.869-04:00

This makes me wonder... What exactly will banks come up with next to capitalize on this trend? Without a doubt, they will come up with a legally sound manuever to effectively charge customers to make purchases with their own money (including those who are not overdrafting)!

Debit cards have their place. Purchases where you can leave with the merchandise on your person, observe the

Hi CM, How can I get in touch with you besides the...

2009-04-30T16:55:23.674-04:00

Hi CM, How can I get in touch with you besides the comment section on your blog? I saw your e-mail address somewhere, but don't remember where.
Thanks!

Finally geedy banks will be punished..from yahoo n...

2009-04-30T16:01:04.173-04:00

Finally geedy banks will be punished..from yahoo news:"WASHINGTON – Riding a crest of populist anger, the House has cleared a bill to rein in credit card practices and eliminate sudden increases in interest rates and late fees that have entangled millions of consumers.

The legislation passed Thursday by a bipartisan vote of 357-70 and follows lobbying by President Barack Obama and

CM, I'm crazy? I roll with Anon @ April 30, 2009 ...

2009-04-30T15:57:11.610-04:00

CM, I'm crazy? I roll with Anon @ April 30, 2009 11:14:00 AM EDT

;-)

I know you're benefiting from cash rewards on your Penfed. Makes you crazy, too, right? LOL!