OT: Last time I'll set foot in Home Depot

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I guess it is the card you end up with.. I have a Citibank card and a GM Card. I have a 21 grace period with both and usually get them 10 days before they are due. Never have had a late fee, or interest and my limit keeps going up. I always pay them in full each month and I get $1,000's in credit each time I buy a new or used vehicle.
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I like mine too. Hate the 25 cent surcharge to use it.
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Keep_it_in_the_newsgroup snipped-for-privacy@aol.com says...

Or, for the safety of a credit card (thieves can't clean out your account if they get hold of a CC), treat your credit card like a debit card.
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On Fri, 26 Sep 2003 03:10:57 GMT, Mark & Juanita

Let's say this again, s-l-o-w-l-y. <G>
You have NO more liability with a debit card if it's stolen than a credit card.
ALL Visa branded cards have ZERO liability, same as the credit version.
Barry
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Keep_it_in_the_newsgroup snipped-for-privacy@aol.com says...

Let's explain Usenet s-l-o-w-l-y: Not all posts propagate at the same rate. I did not see your claim that debit cards have the same safety vis a vis fraud as credit cards unti *after* I posted the above.

Does this also include bounced check charges and other deadbeat fees if a thief cleans out your checking account with a stolen debit card? Not asking to be a wise-acre, I'm genuinely curious as to how far they cover.

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On Sat, 27 Sep 2003 05:43:53 GMT, Mark & Juanita

It dosen't get "cleaned out". As soon as you dispute the charge, the money is replaced, fees are refunded, etc... This exact thing happened to me and my credit union was awesome to deal with. Mu card was lost, and I didn't even know it was lost until I started getting overdraft notices in the mail. I have overdraft protection, so nothing was rejected.
Should the charge be proven to be yours, the fees, money, etc... are instantly removed from your account.
If the card owner was stupid enough to do something like write the PIN on the card, and the purchase was made as a debit, with the PIN, you can probably kiss the money goodbye.
If the purchase was made as a credit card, even if the card is a debit only version with the Visa logo, all Visa value added services apply.
Visa usually recovers illegally charged money from the merchant that accepted the card, via charge backs. The merchant is required to verify signatures, even though most don't.
Barry
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Keep_it_in_the_newsgroup snipped-for-privacy@aol.com says...

I guess I'm not asking the question correctly. Assuming one does not have overdraft protection, if a thief manages to steal your card and PIN, and in a single or a couple of large purchases manages to reduce your bank balance to zero, does the debit card company cover you for bounced check fees when checks you have written on your account (now overdrawn) start bouncing?
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On Sat, 27 Sep 2003 22:55:01 GMT, Mark & Juanita

With the PIN, maybe. You are running under the issuer's debit card agreement. How that would happen is anyone's guess, as the PIN should not be recorded in the wallet or purse.
Without the PIN, my credit union would and did for me, as the card is run though as a Visa, and is subject to Visa's benefits and rules.
It's a little complicated, but a single card can be subject to two sets of rules, depending on how it's used.
Barry
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On Sat, 27 Sep 2003 05:43:53 GMT, Mark & Juanita

Yup, it covers everything. About a year ago, I was having a particularly troublesome transmission replaced in my wife's car. The shop had put *4* transmissions in and each one failed catastrophically within weeks. The shop promised to have it fixed by a certain date, but didn't make it so they rented me a car. I had the car for about a month (don't get me started) and in the end, instead of charging the shop for the rental rates, Hertz charged the whole amount on my debit card (they had to have the card # to hold the car). That caused my entire bank account to cascade into bounced checks, bounced check charges, causing more checks to bounce, etc. All in all, because of this one fraudulent charge, I ended up with hundreds of dollars in bounce charges and about a dozen bounced checks.
The bank waived all of them and even paid company late fees and bounce fees without blinking an eye. We were not liable for any charge because it wasn't our fault. Hopefully they passed those charges on to Hertz, but I really don't know.
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On Fri, 26 Sep 2003 03:10:57 GMT, Mark & Juanita

But they can run up your card. Are you protected against that? Certainly, just as you are if someone drains your bank account illegally. There's no functional difference.
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snipped-for-privacy@NOSPAM.verizon.net says...

No, there is a functional difference. Thieves can run up a credit card, but I am only responsible for the first $50 ($25?) of whatever they do -- the CC company is responsible for the rest. I believe this is by law; when CC were first getting started, it was one of the concessions they had to make to get into business. That's why monitor spending history and sometimes call people after they have made several large purchases outside of their normal spending habits, they are protecting their money, not yours.
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Mark & Juanita wrote:

defensive. I have never accepted one because in their early days they were clearly not as secure as a credit card. The better debit card companies seem to have taken care of most of that problem, but I have no need or desire for one.
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Defensive? Pointing out errors and myths is defensive? <G>
I've had credit cards, but only when someone has made it really worth my while to get one. Some merchants give large discounts for applying off an initial purchase. I'll take advantage of that to the extent I planned to pay cash for, pay it all in the first payment, and cancel the card.
I read the small print on my cards, and don't feel comfortable running up large bills to collect miles, points, whatever. One mistake paying that bill, a lost mailing, etc.. and many, if not _all_ of the benefits are wiped out.
I find a debit card much less hassle than writing a check in large businesses. Small businesses often offer a CASH discount, not a check or debit card discount, but cash. I am more than happy to take them up on their offer.
Barry
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B a r r y B u r k e J r . wrote:

It sounds like credit cards and debit cards are functionally equal these days for people who pay their bills in full every month.
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If the debit card carries a Visa logo, it is functionally identical to a Visa card. Some institutions only offer the protections if the card gets run as a CREDIT CARD. Punching DEBIT on the machine, or telling the cashier to run it as debit card (requiring the PIN) can sometimes forfeit some protections
There are debit cards available that do not carry any credit card company's logo. which have significant differences to a credit card, and sometimes offer little or no protection.
I've never had a Mastercard or Amex debit card, so I don't know their rules.
My bottom line? I read EVERY card agreement for the cards that I carry.
Barry
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Not really. Debit takes the money today, credit once a month. Sometimes that's important for cash flow.

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On Sun, 28 Sep 2003 15:31:39 GMT, Mark & Juanita

If your debit card has the Visa logo, you're responsible for no more than any other Visa card, it's part of the service. Further, if you have a fraudulent charge on your debit card, all you have to do is call your bank and they are required to give you the money back while they investigate. Credit cards and debit cards are absolutely identical in that regard, you have at least as much protection with a debit card, often more.
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FWIW, I fist got a credit card about 20 years ago, and while I've made a few late payments over the years, I've never had a credit card company refuse to waive the late fee after a simple request by telephone.
--

Larry Wasserman Baltimore, Maryland
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Yep - when I called. He offered to remove it. It was 100% my mistake. I was a "deadbeat", to quote Dave. Didn't think that would be honest. I screwed up by not reading the contract.
I politely told the rep, to cancel the account and he collected my reason...
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I did - called all three of my card companies. Thanks. None charge Late Fee's.
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