Credit card or debit card?

[CantanaLobo]

My opinion: The fewer institutions that know the account number where I have my cash the better. Think Home Depot, Michaels, Chase, Sony, etc, breach du jour. Yeah, it's not fun cleaning up a purloined credit card number, but that's not my money. It becomes a lot more important when it's my money that's at risk. So:

 

Debit card for ATMs. Keep an eye out for a skimmer. Try and use a bank lobby ATM.

 

Credit card for everything else. Let the thieves rip-off Chase/Citi/Amex/Diners/Barcleys/etc.

 

Pay off the credit card every month - no interest. Use a credit card that gives you miles/points/cash back/whatever and they're paying you to use their credit card.

[maywell]

What's the difference and why is it better to use a credit card?:o

 

Thanks!

 

Janie

 

Credit card because they only hold a specific amount per length of the cruise / trip while debit card they will hold double the specific amount - for example: if the trip is a 7day, the hold is $300 so for the debit card its $600. And it can take about 2 weeks for the cruise line hold to clear- do you really want the cruise holding your money (debit card) hostage like that?

[John Bull]

I agree with most of what you say but wonder about Debit versus Credit. I thought Credit allows you to spend money you do not have but Debit is limited to the amount in your Checking Account. Will a Debit be accepted if there are no funds in the account ?

 

Debit is good for the amount in your checking account. But no fun if the cruise line puts a hold on funds that are needed for regular automated payments like rent, mortgage, hp payments, or for cash withdrawals. Especially because of the nonsense of the hold remaining in place until long after your account has settled your actual on-board spend - in these days of instantaneous payments, that's a disgrace.

 

Credit is good for taking the card to its credit limit. Again, no fun if you're already close to maxing your credit limit.

But most folk settle their credit card account in full monthly, using it as a payment card rather than a credit card, so their credit limit is way more than the cash in their checking account.

 

Maywell's "hold on a debit card is double that of a credit card" is a new one to me. Not necessarily saying that's incorrect, just that I've not heard of that before.

 

JB :)

[maywell]

Debit is good for the amount in your checking account. But no fun if the cruise line puts a hold on funds that are needed for regular automated payments like rent, mortgage, hp payments, or for cash withdrawals. Especially because of the nonsense of the hold remaining in place until long after your account has settled your actual on-board spend - in these days of instantaneous payments, that's a disgrace.

 

Credit is good for taking the card to its credit limit. Again, no fun if you're already close to maxing your credit limit.

But most folk settle their credit card account in full monthly, using it as a payment card rather than a credit card, so their credit limit is way more than the cash in their checking account.

 

Maywell's "hold on a debit card is double that of a credit card" is a new one to me. Not necessarily saying that's incorrect, just that I've not heard of that before.

 

JB :)

 

 

Read the fine print and/or FAQ for some cruise lines and banks- I know NCL discourage the use of debit cards because they give a heads regarding banks holds and some banks like one I used will hold twice the amount if its a debit.

 

Here's the FAQ for NCL; the deposit they ask if one is paying in cash is also the amount they hold on credit / debit cards (personal observation I noticed when I used my credit card on my 7 day trip ):

 

http://www.ncl.com/faq#onboard-expenses