Credit Cards

[KSUViolet06]

Originally Posted by amanda6035

You do realize that this is identity theft, right?

No. Totally different.

Your parents weren't on your accounts when you weren't old enough to have them on your own?

[AGDee]

Thanks, I'll look into those. I was hoping to find a teen card for my son next. It makes me feel better when they are driving that they have some kind of emergency "fund" too. The only downside to this one, it seems, is that it says bank transfers may take up to 5 business days to show up on the card. I liked that the other one was instantaneous! But, we can probably work with 5 business days too.

Hypo will also be getting a checking account and I am hoping she can get a debit Visa with that. I will probably have to open an account at the same bank so I can do transfers more easily too. So much to think about with a kid going so far away!

[knight_shadow]

Originally Posted by AGDee

Thanks, I'll look into those. I was hoping to find a teen card for my son next. It makes me feel better when they are driving that they have some kind of emergency "fund" too. The only downside to this one, it seems, is that it says bank transfers may take up to 5 business days to show up on the card. I liked that the other one was instantaneous! But, we can probably work with 5 business days too.

Hypo will also be getting a checking account and I am hoping she can get a debit Visa with that. I will probably have to open an account at the same bank so I can do transfers more easily too. So much to think about with a kid going so far away!

Yea, the 5 day thing is a hassle, but I have my direct deposit split so some of it goes to the card.

If there's ever an emergency, I purchase a MoneyPak from Walgreens (or CVS or 7-eleven) and load it that way. The MP is $4.95 to buy, but AMEX doesn't charge you to load money that way. Walgreens has a one hour delay, but purchasing the MP from other places allows you to load it immediately.

[psusue]

I have a Paypal debit card that my mom used when I was at PSU to transfer money. If you have your Paypal account hooked up to your bank account you can send money instantaneously to hypo and if she has the card she can use it right away.

There's no fee to use it as a debit card but it is a $2 charge to take out cash (but you can also say take out $40 once instead of $20 twice to save money that way) and most places take debit cards anyway. The only issues that I've had with it is that last summer they were calling me every other day asking if my charges were legitimate. Which is good because I never worried about fraud but annoying the one time they froze my account. They call you before they do that though.

Also sometimes when I'd go to get gas it would automatically charge $75 to my account and if there wasn't $75 in there it would get declined. Sometimes it doesn't do that though. But overall I like it and it was very useful for my mom and I who don't have the same bank. The transfer is also instantaneous and can be done through a smartphone app/on a phone's browser on your end.

[knight_shadow]

Originally Posted by psusue

Also sometimes when I'd go to get gas it would automatically charge $75 to my account and if there wasn't $75 in there it would get declined. Sometimes it doesn't do that though. But overall I like it and it was very useful for my mom and I who don't have the same bank. The transfer is also instantaneous and can be done through a smartphone app/on a phone's browser on your end.

That's the gas station, not the card. If you pay at the pump, gas stations will sometimes preauthorize a set amount that will get cleared up when they submit their receipts for processing.

You can get around this by going inside and paying up front.

[MysticCat]

Originally Posted by knight_shadow

That's the gas station, not the card. If you pay at the pump, gas stations will sometimes preauthorize a set amount that will get cleared up when they submit their receipts for processing.

You can get around this by going inside and paying up front.

Or by using a debit card.

[knight_shadow]

Originally Posted by MysticCat

Or by using a debit card and using your PIN.

FYP, for clarity's sake

[MaryPoppins]

From one of my blogger friends (NMissCommentor) via a blogger friend of his (Dr. X) who is a mental health therapist in real life:

Through Bank of America’s fault, someone charged fraudulent items on Dr. X’s Bank of America account. Bank of American initially responded by taking the charges off, but then later put them back on and is now playing passive-aggressive telephone call system games, possibly in hopes he’ll give up and go away. Instead, he’s asking the internet to spread the word about how happy he is with Bank of America’s terrible customer support. So, pass this on!

http://drx.typepad.com/psychotherapy...-stealing.html

[AGDee]

Originally Posted by MaryPoppins

From one of my blogger friends (NMissCommentor) via a blogger friend of his (Dr. X) who is a mental health therapist in real life:

Through Bank of America’s fault, someone charged fraudulent items on Dr. X’s Bank of America account. Bank of American initially responded by taking the charges off, but then later put them back on and is now playing passive-aggressive telephone call system games, possibly in hopes he’ll give up and go away. Instead, he’s asking the internet to spread the word about how happy he is with Bank of America’s terrible customer support. So, pass this on!

http://drx.typepad.com/psychotherapy...-stealing.html

I just read his blog about the run around he is getting and I think I would ask them if they'd rather have my attorney's phone number and see what kind of reaction I got. We have a congressman in this area who would also take on this kind of fight for his constituents and I'd probably be contacting him. The state attorney general would probably also be interested in his story.

I was very relieved when BoA sold my mortgage (after BoA bought CountryWide, my original mortgage company), although the new mortgage company is WORSE than BoA in some ways, which I didn't think was possible. I have to call them every other month or so, they pay my property taxes out of escrow late, and I can't see detailed transactions through their online site. I keep a very close eye on them.

[aggieAXO]

My Bank of America ATM card number was stolen 3 months ago (I am assuming they read the card number through my purse). They notified me immediately (literally within 2 hours) and credited my account the amount that was used until the investigation was complete. They eventually found in my favor and the credit became permanent. I have had no problems with BofA and have been pleased with their customer service.

[AGDee]

As does available credit.

[flirt5721]

I started working with a personal financial advisor and he stated that if you have credit card the best way to use them to gain credit point is to revolve the card in a cycle. He said to buy something and when the bill comes pay most of it but leave a small balance then the next month pay off the remained. Everytime a credit card is reported paid to the credit agencies that add on 3 point to your score.

[KSUViolet06]

^^^This is what I do. Every few months, I'll buy something with my card (typically something I already have the cash for) and just pay it off in 2 payments.

Credit cards are not the devil. It's all in how you use them. The card companies bank on you being dumb and maxing them out. So don't.

[summer_gphib]

Originally Posted by KSUViolet06

^^^This is what I do. Every few months, I'll buy something with my card (typically something I already have the cash for) and just pay it off in 2 payments.

Credit cards are not the devil. It's all in how you use them. The card companies bank on you being dumb and maxing them out. So don't.

So true. When Forrest (the basset hound) got sick, and needed emergency surgery, we had to max out all the credit cards. I was glad to have them, and luckily we have very low interest rates. We have gotten about half of it paid off, and should have the other 11k paid off this year. It's been a hit on our credit report, but once it's completely paid off, it should go right back up again, I'd think. His medical bills ended up being over $35k, so only having 11 left kind of seems like a small amount. Any time I see a vet bill that is under $1,000 it seems small. LOL. That is so sad.

[amanda6035]

Wow. I love my dogs. I do. Saturday was 1 year since we put Buster down for cancer and now we have 2 more rescues (a bagel - Freckles and a beagle - Sadie). But I cannot fathom spending $35K in surgeries or other medical expenses for them. That had to be rough....


CCs may not be "the devil" but they are snakes, and if you play with snakes you will get bitten. I haven't used a credit card in 3 years come August. I don't reckon I'll ever use one again. Haven't had a need to. I couldn't care less what my FICO score is. FICO is not a good measure of winning with money. It only measures if you can play the game with debt. When you purchase something, and pay it "almost" off one month, and pay the final balance the next month.. that is playing the game.

Preaching responsibility with CCs? Okay, my responsibility is that I was unable to play the game, and I think there are alot of people out there who won't admit that they aren't good at the game either (not talking about any of you directly - just in general when people say "oh you just have to be responsible, blah blah blah). I sucked at it, and I got suckered into a ton of debt. So I stopped using them, paid them off and now and only have student loans and mortgage to deal with now...Can't wait to get these student loans out of the way....