Debit Card Question

[ALS1214]

No, the suggestion is good . I don't care about the 300 on the card for a hold. I don't want 1000 on the card for everything I do on the cruise. If I give them my visa for a hold, when I check out can pay I for all my on board expenses with cash. But not planning to use my debit on board unless it's an emergency of some sort. I guess I'm confused about settling the on board account on debarkation day. Like at a hotel I give them my credit card for room expenses and when I check out I settle in cash. Is it like that?

 

 

Sent from my iPad using Forums

Edited June 17, 2014 by ALS1214

[Captain Canuck]

you can pay your bill with cash

credit card just holds account ensuring cruise company they get paid

[Crusin6]

No, the suggestion is good . I don't care about the 300 on the card for a hold. I don't want 1000 on the card for everything I do on the cruise. If I give them my visa for a hold, when I check out can pay I for all my on board expenses with cash. But not planning to use my debit on board unless it's an emergency of some sort. I guess I'm confused about settling the on board account on debarkation day. Like at a hotel I give them my credit card for room expenses and when I check out I settle in cash. Is it like that?

 

 

Sent from my iPad using Forums

 

I believe so but others on this board who deal

In cash can be more specific.

 

It looks as though you want to use cash only for expenses. I assume that means in ports as well. So it makes sense to put only a few hundred on the acct at a time

 

FYI. Be sure to have that credit card handy just in case.

 

And since this is your first cruise do not feel you must do everything on board even though the ship will make it sound as if you should as not all activities are free. And it is ok to sit in an entertainment venue (bar) and not order a drink. You can sit and listen to or watch the entertainment regardless.

 

No cover. No minimum at least on the ships I have cruised. Some big new ones do have some covers though

 

Trust me seasoned cruisers do not play expensive bingo all day and do not get expensive spa treatments and do not drink 24/7. Nor do they use specialty restaurants every night or buy every photo taken of them

 

Not saying that seasoned cruisers are cheap just saying that the novelty does wear off but newbies do tend to try everything and do sometimes seriously overspend on cruises.

Edited June 17, 2014 by Crusin6

[ALS1214]

Ok. That's fine. I just saved a certain amount and that's what I'm spending. I just like paying cash when I can.

 

 

Sent from my iPad using Forums

[Crusin6]

Ok. That's fine. I just saved a certain amount and that's what I'm spending. I just like paying cash when I can.

 

 

Sent from my iPad using Forums

 

Enjoy the cruise! Start saving for the next one!!

[ALS1214]

I believe so but others on this board who deal

In cash can be more specific.

 

It looks as though you want to use cash only for expenses. I assume that means in ports as well. So it makes sense to put only a few hundred on the acct at a time

 

FYI. Be sure to have that credit card handy just in case.

 

And since this is your first cruise ease do not feel you must do everything on board

 

Trust me seasoned cruisers do not play expensive bingo all day and do not get expensive spa treatments and do not drink 24/7. Nor do they use specialty restaurants every night or buy every photo taken of them

 

Not saying that seasoned cruisers are cheap just saying that the novelty does wear off but newbies do tend to try everything and do sometimes seriously overspend on cruises.

 

 

Yes, I will use cash I port too, I have the emergency card and debit as back up. If I just used my credit I could shop quite a but and spa a lot. I plan on a 200 a day budget for me and hubby. I pre paid dsc and restaurants so I hope that budget is reasonable. It's my first cruise so I'm clueless , lol

 

 

Sent from my iPad using Forums

[ALS1214]

Enjoy the cruise! Start saving for the next one!!

 

Already planning it, lol.

 

 

Sent from my iPad using Forums

[sparks1093]

Yes, you can do cash. You can also put down a credit card, but then go down to the desk towards the end of the cruise any pay off part or all of the balance with cash. You could even go down on the 2nd day and put down a good chunk of what you think the final bill will be. This gives you a bit more control and the least hassle. Any possible hold on your credit card will NOT cost you interest.

 

WARNING!

 

You will get a wide range of answers on how much they expect you to put down.

 

FWIW our friend put $151 in cash on her account at boarding (service charge and excursions were pre-paid).

[garycarla]

....Trust me seasoned cruisers do not play expensive bingo all day and do not get expensive spa treatments and do not drink 24/7. Nor do they use specialty restaurants every night or buy every photo taken of them

 

Not saying that seasoned cruisers are cheap just saying that the novelty does wear off but newbies do tend to try everything and do sometimes seriously overspend on cruises.

 

Well said.

 

We do not buy pictures. We do not play bingo. We do not buy art. Purchases in the gift shop are usually under $50 per cruise, sometimes zero. We do a few speciality restaurants -maybe. We do not pay for coffee. We skip excursions in some ports, and do most on our own. The spa is very over priced and not that great. We do make a pretty significant contribution to their bar business though.

Edited June 17, 2014 by garycarla

[BuffetPantsPls]

now you're going off topic

 

a 529 is awesome.

 

if your income exceeds the tax benefits of contributing to the IRAs, the 529 is a viable option if you live in a high tax rate state (like me in NY)

 

it grows tax free, it pulls out tax free and you can name any beneficiary you want for educational use. It's the educational equivalent of the Roth IRA with a state tax deduction as the kicker.

 

and everyone should fund their 401k for the federal tax deduction.

 

debit cards are just dumb in more ways then one.

-You don't update your FICO score (though i guess if you're irresponsible for credit, then you might purposely not use a CC)

-No / low fico means higher rates on loans, mortgage/car so on.

-you lose it and you can get potentially wiped out.

-very easy for someone dishonest to see your pin and just take your card.

-very little protection for the account/card holder.

That makes 3 of us thinking realistically.

You me and the guy you quoted! Lol

 

Have you ever tried to explain to someone why a 529 account may not be in their best interest? Or why they should be funding an ira or 401k even if they think they cant afford to? Now that's special!! Lol

 

 

http://gosms.3g.cn/D?

 

 

f=OB0XAPGLT05qI_ViaGoSMSNow that's special!

[agabbymama]

OP, just be aware the check-in person will want your credit card to open your on-board account. At least in Vancouver port they did. Then if you want to use cash you have to go to the Credit desk to place the cash on your account, or you can indeed wait until the end of the cruise to settle your account in cash.

 

You won't actually use your credit card on-board for anything, you will use your Sail and Sign card for all purchases. It is easy to over-spend on a cruise for that reason. We always keep every receipt for any purchase, then get a print-out of your account at the Purser's desk every couple of days to make sure no mistakes happen.

 

Again, I was told $500 pp would have to be given at the credit desk, but others have reported as little as $100 pp. So it must depend on the cruise/ship/length of cruise/or person taking the money.

[Crusin6]

now you're going off topic

 

a 529 is awesome.

 

if your income exceeds the tax benefits of contributing to the IRAs, the 529 is a viable option if you live in a high tax rate state (like me in NY)

 

it grows tax free, it pulls out tax free and you can name any beneficiary you want for educational use. It's the educational equivalent of the Roth IRA with a state tax deduction as the kicker.

 

and everyone should fund their 401k for the federal tax deduction.

 

debit cards are just dumb in more ways then one.

-You don't update your FICO score (though i guess if you're irresponsible for credit, then you might purposely not use a CC)

-No / low fico means higher rates on loans, mortgage/car so on.

-you lose it and you can get potentially wiped out.

-very easy for someone dishonest to see your pin and just take your card.

-very little protection for the account/card holder.

 

The problem with the 529 is that they are started when the kid is little and by the time the kid goes to college the famy has probably grown and the financial situation could actually dictate that the kid will get financial aid in the form of grants not loans. Which is fabulous!! New parents don't realize this and actually believe that they will have to pay the entire cost if education so they save very early on. Had they not saved the kid would probably get some scharship money plus grants and the parents net cost will be much much lower than they are being scared silly into thinking it will be. So some cash from the parents pocket. Grants because of no 529 account some scharship money and just maybe a direct student loan in the kids name. Which btw can only cost the kid a certain % of his future income anyway so it won't bankrupt him as a 25 year old

 

However the money in the 529 is in the kids name so nada financial aid

 

Had that money been in the parents Ira most colleges won't even consider those funds and grant the kid aid that doesn't need to be repaid

 

Now for those that say the kid doesn't need the money anyway because he has it. Well ok that's great if it is 200,000 in the 529. But in reality having even 1/4 of tuition on 529 will probably mean the kid takes more loans and get less in grants.

 

The way I see it college is the one time you should look for grant money if you qualify. It is not like taking fraudent welfare payments.

 

So fund your Ira and 401 k first. Then give your kids a great childhood. Lol. If anything is left over or the grandparents insist then fund the 529

 

I am not alone btw with not relishing the 529.

 

As an aside I am not talking about 2 income 250k plus type families. I am referring the basic 100k type of family which is quite common possibly one

 

wage earner and 3 kids for example and yes while a 529 may benefit high wage-earners it can only hurt middle income and lower wage earners. For the most part as everyone's mileage may vary.

 

Or to put it in simple terms. If you think you will get financial aid then you do not need a 529.

Edited June 17, 2014 by Crusin6

[garycarla]

now you're going off topic

 

a 529 is ....

 

The person that mentioned the 529 also mentioned 401k, IRA, etc. They were not off topic at all, just trying to make a point. The long post about 529 was well meaning I am sure, but off topic.

 

 

Just a passing comment.

 

You may not resume the never ending debate about debit cards.

[Crusin6]

The person that mentioned the 529 also mentioned 401k, IRA, etc. They were not off topic at all, just trying to make a point. The long post about 529 was well meaning I am sure, but off topic.

 

 

Just a passing comment.

 

You may not resume the never ending debate about debit cards.

 

Yes it is off topic but I think why that happened was because we posters here are realizing that it is difficult to explain some simple issues to other posters because those posters are just not fully aware of certain things

 

The Insistance on debit card use is prime example. Just too risky

 

So I guess I went on a tangent because I had recently had a long discussion with a parent who didn't have a clue. Even his financial person said don't do the 529 any longer. It took him 5 years to take that advice though and is now looking at a $50000 college bill that he could have received grant money to cover next year all because he funded the 529 and not the Ira or 401.

Btw guess what the kids tuition is? Yep $50,000.

 

He will be getting aid for year 2 though lol because the 529 will be depleted

 

He also stopped funding the younger kid and is fully funding the Ira.

[dwjoe]

However the money in the 529 is in the kids name so nada financial aid

Most 529 accounts are in the parents name with the kid as beneficiary. The money is considered a parental asset for financial aid purposes which has a much lower impact on grant/loan eligibility.

Edited June 17, 2014 by dwjoe

[Crusin6]

Most 529 accounts are in the parents name with the kid as beneficiary. The money is considered a parental asset for financial aid purposes which has a much lower impact on grant/loan eligibility.

 

Exactly what I was saying. Either way fin aid does ask for parent and kid assets. At least for federal aid But the 529 might depend on the rules of the state where the account is domiciled. States do vary in this respect.

 

Either way if it is a parental asset it may impact fin aid. However had that same money been put in an Ira or 401 then it is not counted for fin aid purposes. Thus enabling the kid to get fed and state grants as well as grants directly from the college. Again states vary here as well. It also helps to have multiple college age kids at once. 4 year spacing only hurts here. Lol

 

However some high end universities do require the parent divulge parental retirement funds thru the CSS profile which requires divulgence of every asset to the penny including primary residence and retirement funds.

 

Fortunately the great majority of colleges are realistic and do not require the CSS profile and accept the fact that primary residence and retirement funds are not for college tuition. One actually has to pay for the privilege of filing the CSS profile btw

 

Colleges give money to students all the time and if you feel you qualify then you should do your best to get it. Therefore in many middle income cases and of course all of this is IMHO The 401 and Ira should trump the 529 hands down

Edited June 17, 2014 by Crusin6

[scar4711]

Back on Topic..

 

I have used a debit card for every single one of my cruises.

 

My bank releases the hold after 3 business days - so this isnt an issue.

 

What most people do not know is that NCL will keep authorizing the card daily for your purchases. The only thing they do not auth for some reason are the casino advances.. which I still find strange. :)

[Flopthis25]

Yes, many. many - even ten's of thousands use their debit card with no problem.

 

But, there are some issues that debit card users need to be aware of. Especially if your checking account has a "tight" balance and no overdraft options. Or a hold for a few days to a week or more will cause trouble. It does happen from time to time.

 

I was one of the few. I put $1,000 in a checking account that we don't use very often, and used that debit card for our onboard expenses.

I checked my balance VERY often during the cruise.

Every night NCL charged my debit card for what I spent that day. And at the end of the cruise, charged us again for the full amount. (We spent $660something)

I thought everything was fine, until I was home for a few days. I got a letter from our bank saying that we were negative $700 something (including overdraft fees).

Luckily I got it straightened out quickly. I feel like this could've been prevented. Next time, I shall use cash and just wait in line at the end of the cruise to get my unused money back.

(We do NOT have credit cards, and don't plan on getting one just for a cruise)