OT, Debit card

[basilisk]

Last week I lost my debit card, most likely it is still in my possesion somewhere, but it wasn't where it was supposed to be.

I noticed it gone about 12 hrs after the last use, and so began the drill of reporting it lost/stolen.

Call the 800 number and then it dawns on me that I have no idea what the card number is, unlike a credit card, the number doesn't show up on any statements nor is it on any of the application documentation or the letter that it came in.

This made stopping the card difficult but after an hour or so me and the nice young man from India named Bob managed to verify my identity and halt the card.

No harm was done, no unathorized charges were incurred.

Write your debit card number down somewhere safe, it will save you a lot of trouble should it go AWOL.

basilisk

[Pat Barber]

[SonomaProducts.com]

Better yet, send all cards and pin numbers to me for safe keeping.

[Meanie]

You shouldn't need the card numbers, the customer rep can obtain that info after he/she ask you the personal questions related to your account. Ex: Last four digits of your SSN, DOB, Phone number, Home address, etc. If all they needed was the card number, than any Joe Schmoe who steals it can make all the required changes and keep it while spending your money. Also, if you have to deal with a foreign accent other than a southern drawl, I suggest changing your financial institute.

[basilisk]

Sure enough I didn't have to have the number, but it would have been much less bother to have had it.

basilisk

[basilisk]

I wouldn't want to burden you with my vast wealth :)

[Doug Winterburn]

AS the old saying goes - "I have a lot of money, but it's all tied up in debt."

[Lew Hodgett]

--------------------------------------------------------------- "basilisk" wrote:

----------------------------------------------------------------- Better yet scrap the bloody DEBIT card and replace it with a CREDIT card (VISA, MC).

Make the bank take responsibility for resolving problems and EARN the fees they charge.

With a DEBIT card, you have to resolve your own problems.

Lew

[Richard]

An even better suggestion that that, scrap the bank and find a good credit union to keep your money safe.

The bank works for the bank's share holders.

In a credit union, YOU are a share holder.

[Markem]

A scan of all your personal id card ect is a good way to file them away on paper.

Mrk

[Puckdropper]

Markem wrote in news: [e-mail]:

Be sure to tape all that private information to your desk, or save it in an easily found location on your hard drive. I bought a desk a couple of months ago and found the lady's username and password for things like her credit union, PayPal, plus presumably her husband's name and driver's license number.

I was tempted to see if some of it still worked, but just got rid of the stuff.

Puckdropper

[basilisk]

I use the debit card for every day small purchases. Credit card gets used for higher cost durable goods. Just my preference to do this.

So far this year the checking account with the debit card has had no fees charged to it, in fact it pays a small amount of interest. If your bank is charging you fees you should shitcan them.

In 2013, CC has charged a total of $2.34 interest and fees.

Debit or CC you still have to report it if you lose the card. I suppose you could ignore it and see what happens.

basilisk

[Keith Nuttle]

I think it is immaterial what you use to pay your bills. Whatever you use, you must do it responsibility using sound economic practices. You follow your budget. Unlike the government, you don't spend what you do not have regardless of how much you feel you need the item.

Just as you would not leave a $100 bill on the counter in the store where you are shopping you do not leave a credit or debit card.

I have used credit cards since the 1970 and have had no major problems. They are paid off timely, balances are paid of when billed, or as quickly as possible.

Personally I use a credit card, as it isolates the the company where the purchases are made from my accounts. Living in the current climate of crime it frees me from carrying large amounts of cash. It also gives me cushion for unplanned expenses, as most responsible companies take credit cards today.

I review all purchase made using the credit card on a weekly basis, and if there appears to be a problem immediately contact the card company.

[Leon]

I currently use a Discover card for everything that I can use it for. I have had it for 26 months and Discover has PAID ME $1300.00 to use it. Prior to that Citibank paid me an average of $50 a month to use their card for about 4 years. Before that a GM card that knocked off an additional $6500.00 on vehicle purchases after I made my deal. I pay these cards off monthly and have not paid interest or fees on a CC since 1983 and that was a one month mistake.

[Larry Blanchard]

Other than the vehicle purchase, my story is similar. But with all the snooping the NSA's been doing, I may go to cash on general principles :-).

[Leon]

Security cameras are everywhere, they can watch you spend your cash too. LOL

[basilisk]

Good point, but I sometimes wonder if we aren't selling our souls for a few reward points and dribblings of interest.

basilisk

[Leon]

Do you consider in excess of $10K to be a few reward points and or dribblings?

[basilisk]

No, but it is all relative, for me reward points contributes a thousand dollars a year or so to my bottom line(thankyou Visa).

I still perfer to deal in cash when possible, I live frugally except for a few areas, and those things I do spend a lot on are usually cash. This is a problem sometimes, buying cars and such with cash draws unwanted attention as it is considered not playing by the rules. I even once had a Ford dealer refuse a cash deal, strange world we live in.

The argument can be made for running every penny through a credit card and taking every reward possible. I'm not comfortable doing it. YMMV

basilisk

[Ed Pawlowski]

I used to, but no more. Too many stories of stolen numbers so I limit exposure. Anything under $100 now is cash, all internet purchases are credit cart, not debit. My debit card offers protection, but it may take a few days to resolve, meantime the checking balance is potentially gone until resolved.