Is there anyone that does not have a Credit Card? Do you just use a Debit Card?

[Brett]

You need to add another to your poll for my vote:
No, I exclusively only use a credit card

I can't even remember the last time I used a debit card, honestly I would have to go digging to even find it, assuming I have one somewhere.

with some banks the ATM and debit card are same so I use a debit card for infrequent cash withdrawals

 

[Brett]

Once you order anything at a restaurant! You are also in debt until paid in full!
Same thing when you go to the dentist or doctor, hospital. You will receive an invoice for payment. Debt!

I'm debt free one day a month !

 

[pedro47]

I'm debt free one day a month !

I learned one thing in America you must be in some debt to purchase a new home, if you are a first time home buyer.

Like wise, 12 times a year we are debt free.

I do not use a bank debit or an ATM Card.

 

[Rolltydr]

We went from no debt to debt with our home purchase in Florida earlier this year. So far, it’s been worth every penny. We moved from a house we didn’t like in a location we didn’t like to a house we love in a location we love. I’d do it again in a heartbeat.

 

[1Kflyerguy]

I am almost exclusively a credit card user. I have a couple of bank accounts, and my credit union offers a much better interest rate if I use the ATM/Debit card 10 times a month or a min of $500 in debits per month. I try to use that card just ennough to get the add perks..

 

[1Kflyerguy]

Everyone makes choices. The merchant charge reduces a businesses profits or causes higher prices, the same way delivery apps like uber eats or Doordash kill small business. I forgoe the personal cc benefit to help small business.

I used to feel the same way about the delivery apps, but my thinking has shifted over time. Nobody is forcing the businesses to sign up for these. They choose to become a partner as a way to get business. While I don't order much takeout, lots of people do, and most want an easy way to order it. Yes a restaurant chain can create their own app or website for online orders, but that really hard and expensive for a local one-off place to do. Not to mention that many people decide where to eat by scrolling the apps, be it OpenTable, DoorDash, etc. You pay a fee but you get your name in front of people as well.

 

[linsj]

I'm a credit card person. I don't have a debit card and rarely use cash. The only time I use a debit card is to get cash at ATMs when I'm out of the country. I'll need to get a new one for my next international trip, whenever that is.

 

[billymach4]

The household paper checkbook is also practically extinct. When do you all write paper checks? Thanks to online banking and online bill pay. I never order new checkbooks any more!

 

[DrQ]

The household paper checkbook is also practically extinct. When do you all write paper checks? Thanks to online banking and online bill pay. I never order new checkbooks any more!

When I pay my taxes (I don't allow the Gub'nt direct access to my main account) and when I make a large down payment (like on a car purchase).

 

[ScoopKona]

When I pay my taxes (I don't allow the Gub'nt direct access to my main account) and when I make a large down payment (like on a car purchase).

I sleep easier knowing that my bank simply will not honor a large check written from my main account. I get one free cashier's check each month. So I pay for the big stuff that way instead. If large sums are being moved in or out, I feel better knowing that my wife and I are the only ones who can move those sums.

 

[Rolltydr]

The household paper checkbook is also practically extinct. When do you all write paper checks? Thanks to online banking and online bill pay. I never order new checkbooks any more!

About the only time we use checks is when DW Is splitting the cost of something with her siblings or church group. I wish she could use Paypal or Apple Cash for those transactions but that would require everyone to have them and know how to use them. It’s never going to happen with either of those groups.

 

[easyrider]

The household paper checkbook is also practically extinct. When do you all write paper checks? Thanks to online banking and online bill pay. I never order new checkbooks any more!

For personal use I agree the check book is done but for payroll we still use checks. We use a debit card at Winco for groceries and at ATM's for cash. Everything else is paid with credit cards.

Bill

 

[goaliedave]

I used to feel the same way about the delivery apps, but my thinking has shifted over time. Nobody is forcing the businesses to sign up for these. They choose to become a partner as a way to get business. While I don't order much takeout, lots of people do, and most want an easy way to order it. Yes a restaurant chain can create their own app or website for online orders, but that really hard and expensive for a local one-off place to do. Not to mention that many people decide where to eat by scrolling the apps, be it OpenTable, DoorDash, etc. You pay a fee but you get your name in front of people as well.

For restaurants its a race to the bottom, but consumers became lazy so they have to. All restaurants hate delivery apps.

 

[billymach4]

For personal use I agree the check book is done but for payroll we still use checks. We use a debit card at Winco for groceries and at ATM's for cash. Everything else is paid with credit cards.

Bill

Yeah Winco only does debit. Sure do miss Winco. They have great variety.

 

[SmithOp]

Credit card only, with text notifications for any transaction over $4. The one time my card was compromised they started with 4 account sign ups for an online service, $5, I picked it up right away and locked the card, then ordered a new one.

I pay most bills by direct debit from a checking account, I only keep enough in there to pay bills. I get daily balance alert emails, and large transaction alerts over $4. This is a credit union, I only have bank credit cards, no annual fee and pay of balances in full by direct debit.

I'm not concerned about IRS having my checking account number for DD, I typically get a small refund every year, I have my withholding dialed in being on fixed income.

My son, 29, only has a debit card, uses it for everything, never carries cash. Same credit union that we use. The only time he was hacked was a BofA card he got for unemployment. They didn't get anything because he took out the money at the ATM as it was deposited then walked over to the credit union and deposited it there. I see BofA was fined for mishandling UI accounts.

Bank of America fined for mishandling unemployment debit cards during pandemic • New Jersey Monitor

A fault fraud filter led to delays for jobless claimants nationwide obtaining their benefits, federal regulators said last week.

newjerseymonitor.com

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[TUGBrian]

debit cards (that function as credit cards) are absolutely terrible.... should never have a floating link to your bank account!

sure the bank is likely to reimburse you for any fraud....eventually. wont change the fact that fraudulent purchases will come right out of your bank account should you lose the card.

get a low limit rewards credit card and use that wherever. if it gets lost/stolen/whatever, who cares...let the credit card company deal with that.

plus you likely earn rewards for every dollar you spend on it.

 

[Patri]

The household paper checkbook is also practically extinct. When do you all write paper checks?

To a service club hosting a one day bus trip, the family owned mowing service I use, our local tax collector, the nursing home, my dog sitter.

 

[HitchHiker71]

I learned one thing in America you must be in some debt to purchase a new home, if you are a first time home buyer.

Like wise, 12 times a year we are debt free.

I do not use a bank debit or an ATM Card.

That's because our credit rating agencies encourage debt instruments as opposed to savings. Only in America are you rewarded for taking on debt. For example, I paid off my primary home mortgage earlier this year by refinancing one of our investment properties. In the process we eliminated 50% of our total debt across the board. My credit rating fell by 50 points because the primary mortgage fell off of my report in entirety, the existing rental property mortgage was refi'd to a net new mortgage. The ratings agencies only look at your credit history through the lens of ages in this respect, so my credit "looks worse" since my average credit history decreased. Meanwhile our debts were literally cut in half, but the agencies could care less about this component. Go figure.

 

[HitchHiker71]

The household paper checkbook is also practically extinct. When do you all write paper checks? Thanks to online banking and online bill pay. I never order new checkbooks any more!

Very rarely - only when it's required. The last check I actually wrote was earlier this year to pay off our primary mortgage - since it originated with Chase and they have local branches - the least troublesome way to pay off the mortgage was to simply write a paper check for it at the local branch. Other than that, I cannot recall the last time I actually wrote a paper check before that.

 

[VacationForever]

For restaurants its a race to the bottom, but consumers became lazy so they have to. All restaurants hate delivery apps.

What is wrong with delivery apps? I don't use them because I refuse to have potential contamination between a middleman and the restaurant.

 

[goaliedave]

What is wrong with delivery apps? I don't use them because I refuse to have potential contamination between a middleman and the restaurant.

Please read my previous posts. But yes it's their "middleman" role as you call it.

 

[VacationForever]

Please read my previous posts. But yes it's their "middleman" role as you call it.

I did. Saying DoorDash kills businesses, is meaningless. Why?

 

[goaliedave]

I did. Saying DoorDash kills businesses, is meaningless. Why?

Middlemen are so common in USA that people are blind to shortcomings. People go into debt with credit card companies when buying groceries, use HMOs to access health care, use delivery apps for food, ticket apps for sports & entertainment ... it's all so inefficient and steals money from the direct transaction partners. More is explained in previous posts if you need.

 

[HitchHiker71]

Middlemen are so common in USA that people are blind to shortcomings. People go into debt with credit card companies when buying groceries, use HMOs to access health care, use delivery apps for food, ticket apps for sports & entertainment ... it's all so inefficient and steals money from the direct transaction partners. More is explained in previous posts if you need.

I’m assuming you have more than just anecdotal statements that actually prove these assertions? If so, please provide such proof.


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[goaliedave]

I used to use just my debit card, but since getting some credit cards with cash back or airline miles, we converted to using credit cards most of the time. Since I am not using the debit card, the money is in the bank, so I do not feel like I am borrowing money.

We always pay the entire balance each month. I usually pay any CC bill right after the statement is available to download online.

Sometimes, when I make a large purchase for something, I will pay the CC off a few days after making the purchase from our saving account. This would be for things like travel reservations, timeshare MF, annual homeowners insurance or estimated taxes. I have the money available and do not have a debit card for savings. It is easier than writing a check and mailing it.

It works for us.

" i do not feel that i am borrowing money" ... as they borrow money each credit card transaction. Debt is so prevalent amongst boomers that they've forgotten what it is.