Posted on 05/19/2009 5:06:46 AM PDT by reaganaut1
They’ll likely try it, but scale back if they see too many creditworthy people stop/slow the use of their credit cards.
It’s not against the law if you tell them they can do it. They just can’t go in and do it without your permission.
If you do pay off every month, the interest rate doesn’t matter.
I realize that’s not always possible, but if you can reach that point, the rate no longer matters.
There is a difference between having the account activated and having the card activated.
The debit card is not free, my issuer charges 12.00 a year
That’s the first I’ve heard of an issuer charging a fee for a debit card.
And while you will eventually get that money back (less $50), and even have most overdraft fees (if any are accrued) refunded, it is a time-consuming pain in the butt.
And for the two weeks or so you have no cash in your checking account, you'd better have a credit card or some other source of funds to live on.
Because of all the online shopping I do, the protection credit cards afford is worth their minimal cost.
Of course, if that cost rises in the future, my opinion may change.
And while you will eventually get that money back (less $50), and even have most overdraft fees (if any are accrued) refunded, it is a time-consuming pain in the butt.
And for the two weeks or so you have no cash in your checking account, you'd better have a credit card or some other source of funds to live on.
Because of all the online shopping I do, the protection credit cards afford is worth their minimal cost.
Of course, if that cost rises in the future, my opinion may change.
Actually, I have not had that problem although I always anticipate it. For that very reason I have a savings account linked to my checking account. It covers any overages at no charge (fees)to me. Thus far, I haven’t had a hotel place a large hold on my card. I stay in hotels several times a month and it really hasn’t been a problem.
I try to avoid renting cars at all costs because I can usually take public transportation for much less than car rental costs.
I didn't think they could do that anymore. I had that set up with my bank but a year or two ago they changed it to a credit account which is charged for every overdraft.
I thought the change was required by law, but maybe I read the legalese wrong.
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