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

[Rico]

It sounds like credit cards and debit cards are functionally equal these days for people who pay their bills in full every month.

[B a r r y B u r k e J r .]

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

[George]

Not really. Debit takes the money today, credit once a month. Sometimes that's important for cash flow.

[Brian Henderson]

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.

[Charlie Spitzer]

i have. bought a used car with a loan from the credit union. within 2 weeks had transferred that loan to a credit card at 0% interest. roll it over to a new card every 9 months when the latest 0% interest rate offer comes in.

[Mike Reed]

It makes better financial sense to use a credit card with a benefit attached to it, then pay it off every month. We have money from every purchase going into our kids' 529 college plan. We used to buy everything with our Discover card and just take the cash back.

Cash and debit cards don't pay you to use them. Over the years it really adds up. I even use the CC for $0.50 purchases when I can.

Of course, if you're apt to spend more than you can afford in a given month, then sticking with cash is the way to go, as interest will kill CC benefits in a heartbeat. I spent like this until I went through some "training" administered by SWMBO ;)

-Mike