this post was submitted on 23 Oct 2023
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Get an account at a bank that charges interest for negative balances instead of fees. It's the European banking model. Plenty of smaller US banks do this. Also, STOP BUYING STUFF WITH A DEBIT CARD!!!
Debit card > credit card. You want to know how much money you have when you spend it and not realize later, that you didn't have the money so now you are indebted to the CC company.
While I agree with you on the second point, I don't believe debit cards are better than credit cards for several reasons. The main one is that credit cards offer better fraud protection. Say your debit card gets stolen, they can clean out your entire bank account and suddenly you have no money. It will take time for the bank to reverse these charges, meanwhile you have no way to buy necessities. With credit it's not your money and the credit card companies are insured and deal with this stuff daily. You also still have money in your bank account.
You absolutely have to be careful with credit though, especially if you aren't good at budgeting. It's not free money, but if you can use it responsibly you can take advantage of the credit card perks, like cash back.
Debit cards can be frozen and charges can be reversed. I've done this before. You're just advertising for credit card companies at this point. I don't wanna have to pay interest on my purchases, thanks.
I'm agreeing with you
I've had my debit card compromised and had absolutely no issues getting the charges reversed
Also as an aside, because my credit union debit card is a MasterCard, I get all of the "credit card benefits" such as the extended warranty and fraud protection. Regardless of the fact it's associated with a debit account
Credit unions all the way
I've never paid interest on a credit card, and if you pay off the balance each month you won't either.
So... what's the point? If you're just gonna pay it off as if it were a debit card? It's just debit with extra steps. Doing that will even harm your credit rating.