Credit card use declining

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Replied by Wanderer on topic Re: Credit card use declining

My thing is, if you are going to make a purchase and already have the money in the bank, why would you use your Debit Card ? Most Credit Cards offer extended warranty which a Debit Card doesn't, if your cc offers some type of rewards, you have just padded your points total. I can see increasing debit card usage for small purchases where if their were an issue the pain will be slight, but a large purchase, hands down its the cc !


:cc: Well said :moneybag:...!
9 years 1 month ago #1

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Replied by smcc on topic Re: Credit card use declining

My thing is, if you are going to make a purchase and already have the money in the bank, why would you use your Debit Card ? Most Credit Cards offer extended warranty which a Debit Card doesn't, if your cc offers some type of rewards, you have just padded your points total. I can see increasing debit card usage for small purchases where if their were an issue the pain will be slight, but a large purchase, hands down its the cc !
9 years 1 month ago #2

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Replied by Joeyman on topic Re: Credit card use declining

I use to be a big pusher of debit card use for years until I had to go through a disputing process that caused me to miss a day of work and I said never again. If i had used my credit card at the time,I would not have had to go through that because I have disputed things before with credit cards and the process was painless.

Shaky job situations and dealing with the way the economy is rolling makes it very understandable for people to push more for debit than credit because you have more of a sense to control to regulate what you spend and are more disciplined with your budget.


In June my Capital One account endured some fraud. I contacted my main bank, who I have checking, savings, and credit accounts with. I explained the situation to be cautious because I had used both my Capital One and bank credit card with the same online game. We reviewed my transactions and didn't notice anything abnormal, although she need mention one important thing in conversation, "it's good you use your credit card with such transactions, because it's not your money." If I endured fraud with my debit, like you said Eugene, it could become a long annoying process.


PS: The online game is based out of the UK, where my fraud occurred.
9 years 1 month ago #3

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Replied by eugene66 on topic Re: Credit card use declining

I use to be a big pusher of debit card use for years until I had to go through a disputing process that caused me to miss a day of work and I said never again. If i had used my credit card at the time,I would not have had to go through that because I have disputed things before with credit cards and the process was painless.

Shaky job situations and dealing with the way the economy is rolling makes it very understandable for people to push more for debit than credit because you have more of a sense to control to regulate what you spend and are more disciplined with your budget.
9 years 1 month ago #4

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Replied by smcc on topic Re: Credit card use declining

You know if people start using their Debit Cards (which is a good idea) does this not put their cc in danger ? I mean if your cc becomes somewhat "dormant" do you not risk the chance of your limit being reduced even more ? And when the economy picks up (which it will) will it be even harder to recoup your lost limit ? The consumer will have to walk a tight rope sort of speak in using all his credit cards along with his debit card so as not to risk further CLD's
9 years 1 month ago #5

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was created by smcc

Thought this would be the right category for this article, worth reading...

http://www.usatoday.com/money/perfi/credit/2010-09-10-credit10_ST_N.htm
9 years 1 month ago #6

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