Lincoln LS Angel Eye Group Buy

Debit cards own credit cards. If you don't have it, don't spend it.
 
FASTLLS said:
I do a lot of internet shopping so that's why I use it.. Plus I get reward points for using it.. :)
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You are liable for up to $500 on a debit card but only $50 on credit. Also, look at it like this... a debit card is simply a way for you to have easier access to your own money. A credit card is someone loaning you that money for a month. At the end of the month what incentive is there for your bank or card company to make sure you are happy with your purchase when it's with your own money? With a credit card, I can call up if someone rips me off and tell them I don't authorize the charge. Case in point an incident that happened to me on here. A member was selling a bunch of parts and had a bunch of us send him money via paypal for parts then went MIA. I sent him around $130 via paypal through a debit card. After filing the claim paypal basically told me oh well there's only $5 remaining in his account so here's that but we're not going to cover the rest. Had I paid with credit I could of called up the credit card company and it would have been on paypal at that point. You just need to have the discipline with credit. I don't spend what I don't have and pay off my card every month while collecting cash back for using it.
 
TDUB said:
Using debit cards is stupid money too.
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could be the dumbest comment in this thread. How is paying cash/writing a check/debit card considered "stupid money." Please expound and tell me how a debit card is stupid money.
 
pektel said:
could be the dumbest comment in this thread. How is paying cash/writing a check/debit card. Please expound and tell me how a debit card is stupid money.
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This stuff is what my degree is in but here's a quick article basically explaining what I'm trying to get at:
http://redtape.msnbc.com/2007/09/paper-or-plasti.html It's a month's free loan if you know how to play the system so why not use it?

This article talks about it further: http://www.consumerreports.org/cro/...-07/overview/the-dark-secrets-of-debit-ov.htm
 
pektel said:
Debit cards own credit cards. If you don't have it, don't spend it.
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Exactly.. Couldn't have said it better..

TDUB said:
You are liable for up to $500 on a debit card but only $50 on credit.

With a credit card, I can call up if someone rips me off and tell them I don't authorize the charge.
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Idk what bank your dealing with, but I can reverse the charges too..

And I'm only liable for 25.. The rest is the banks/CC dealings..
 
Villalta said:
Really? Its been a while since ive been over but I thought that all the malls didnt have them, I guess im remembering wrong then. Your not talking a credit card right? its a total different thing?
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a debit card or check card is real money that you have in your bank account.

credit card is loaned money charged with interest every month. debit card is the same thing as paying cash because it is direct access to your money.

i rarely ever carry cash because all my paychecks are direct deposited to my checking and savings accounts. if i need cash i simply go to my bank and pull it out.
 
BlackLS06 said:
a debit card or check card is real money that you have in your bank account.

credit card is loaned money charged with interest every month. debit card is the same thing as paying cash because it is direct access to your money.

i rarely ever carry cash because all my paychecks are direct deposited to my checking and savings accounts. if i need cash i simply go to my bank and pull it out.
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Yes thank you thats exactly what i was trying to say. A credit card is not the same as a debit card. You guys were confusing me a little. You dont have a credit limit or anything its only the money you put into your account that you can spend. And its not that anywhere had it in the states but its not as available as here.
 
Agree about the free loan. But I prefer to pay cash for hobby stuff. I really don't need the hassle of remembering to pay off a card when I can just pay cash now.
 
FASTLLS said:
You do have 'a limit' on the card.. Like I can't spend over 350 a day.. There is no way to get that raised either..
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Yes you can... at least here you can. when i first opened my account mine was 500 a day Now I can spend 1000 a day. I think it all depends on what account type you have. But Im also not sure if the bank policies are the same
 
FASTLLS said:
You do have 'a limit' on the card.. Like I can't spend over 350 a day.. There is no way to get that raised either..
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I dont have a limit...well i do but its 25K.

All you have to do is talk with a banker and they can do many things.
 
I also have a credit union but for savings and my car loan.
 
Mr. Lincoln pm your paypal address, and I'll send it to them in order for you to get on this as well. Once we reach 10 people it doesn't matter so just wait until you have the money to respond to Lightwurkz invoice. BTW I have info from everyone on the list so the next step is to e-mail it in. Does any one else want in on this besides Mr. Linc?
 
Not to derail this re-railed thread, but it's interesting to read how people look at their finances. I generally agree with those that say "if you don't have it, don't spend it." However, those are the type of people that can actually be losing out on some bonuses for their financial discipline, which is what I believe a few others of you were saying.

If you're able to pay off your credit card bill every month, then you can actually make money by using it. Find a card with a good rewards/cash back program (I use Chase), and then use it for pretty much everything. As long as you ARE financially disciplined (budgeting helps), you'll actually make money. I end up making about $1500 - 1800 every year from getting cash back from using the card. Bill gets paid every month with no interest.

If you don't use any software to track or manage your finances, many of these cards offer online and downloadable services that organize your purchases. This can help you see where your money is going.

Just my .02 (oh yeah, you know the pun was intended),

Tru
 
Tru-Blu said:
Not to derail this re-railed thread, but it's interesting to read how people look at their finances. I generally agree with those that say "if you don't have it, don't spend it." However, those are the type of people that can actually be losing out on some bonuses for their financial discipline, which is what I believe a few others of you were saying.

If you're able to pay off your credit card bill every month, then you can actually make money by using it. Find a card with a good rewards/cash back program (I use Chase), and then use it for pretty much everything. As long as you ARE financially disciplined (budgeting helps), you'll actually make money. I end up making about $1500 - 1800 every year from getting cash back from using the card. Bill gets paid every month with no interest.

If you don't use any software to track or manage your finances, many of these cards offer online and downloadable services that organize your purchases. This can help you see where your money is going.

Just my .02 (oh yeah, you know the pun was intended),

Tru
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I do exactly the same thing, and have never paid a penny of interest on my credit card. I make about the same amount of money off of it each year as you do, and have had to do a charge back once or twice that otherwise would have left me screwed out of the money. A lot of folks just cannot get their head around it, or refuse to believe that a little bit of discipline can end up working in their favor.
 
Tru-Blu said:
I generally agree with those that say "if you don't have it, don't spend it."

If you're able to pay off your credit card bill every month, then you can actually make money by using it.

Tru
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You just agreed with everything we said.. if you don't have it, don't spend it.. The CC gets paid off every month meaning we only spent what we had.. :cool:
 
You betcha, but my comments were also addressing responses from people saying that they only want to use a debit card because it's pulling money out that they physically have at that moment. I'm in no way saying that this is wrong or not a good thing to do. What I was trying to say is that if they have that good of discipline with their finances, they could actually be making/saving money by using a rewards/cash-back credit card instead of a debit card.

Different strokes for different folks (unfortunately Gary Coleman is not able to be around for any "what you talkin' 'bout references).

Tru
 
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