Posted on 09/02/2014 2:19:02 PM PDT by BlueMondaySkipper
>>You are engaging in a discussion with someone you think is an idiot.
Enjoy.<<
I bow to your quick wit!
Okay, thanks again for the mention. I’m a guy that is slow to change. Sometimes change is better, and you only find out after it is forced on you.
That is true as far as it goes. But it doesn't go far enough.
A compromise of a debit card effects the underlying checking account associated with the card. For most cardholders, this is their primary checking (i.e. spending) account. When your debit card is compromised, you can potentially have your checking balance lowered causing checks (think mortgage, rent checks, auto loan payments, any automatic bill payments, etc.) bounce as a result.
By contrast, most cardholders don't have these same issues when their credit card is compromised.
Cleaning up a debit card compromise is potentially a bigger hassle than a credit card compromise. Just my two cents.
The problem with a credit card is if they hack the card account they get enough information to open additional cards. If they hack the debit card account data they get the checking account and the pin which is much more limited.
I’ve had 1 bad charge on my debit (also credit) card and the bank refunded it after 3 days. Many banks allow for the card to only be attached to the checking count, denying access to all other accounts. I preload my debit card’s checking account before making purchases and there is no overdraft allowed. These cap what could be withdrawn illicitly.
I have had the same experience.
Twice my bank called me and switched out my card with a new number.
Never had a false charge made permanent against my account.
Here they charge the retailer the fee so they raise their prices on everyone to pay the transaction costs.
Okay, then we all carry lots of cash.”
My credit union will provide a “Gift Card” with no percentage charge for amounts up to $300. So if I am going to be doing some shopping, either locally or on-line, I just take cash and exchange it for a card. Save up my purchases and do them all on the same day so there is never anything left on the card when I finish. My local grocery store also allows purchase of a Gift Card in exchange for cash and they charge 2% of purchase amount. But with each $100 purchased, I get $.10 off a gallon of gas and can use up to $.50 off at one time. So at least I net $.08 off a gallon of gas. Either choice has worked well for me.
“So you think every single financial adviser in the known Universe is retarded and a luddite.”
Another retarded statement. You know every financial advisor? Didn’t think so, and you certainly don’t know mine.
That’s correct.
Those using debit cards/credit cards....go ahead and leave a nice digital trail of where you were, when that was, and what it is you bought.
You’re being quite cooperative in helping the NSA build a nice database of info on you.
>>The problem with a credit card is if they hack the card account they get enough information to open additional cards. If they hack the debit card account data they get the checking account and the pin which is much more limited.<<
That is quite a grandiose statement.
I suspect it is wrong in both assertions but I am sure you can provide some documentation...
just look at all those who are able to pay cash and walk on water at the same time.
These cards should have had built in chips YEARS ago. Magnetic strips are an easy hack.
I worked with Visa debit and know they employ fraud detection that works. These people were the same Luddites that claimed back in the 1980’s never to use “those unsecure electronic swipe machines! Never use a credit card in public like that!”.
“Cleaning up a debit card compromise is potentially a bigger hassle than a credit card compromise. Just my two cents.
“
Sure, but cleaning up either a credit card or debit card issue is mostly a matter of a few days time and no heavy lifting by the card holder.
I think that’s an interesting approach.
I’m sure you can find A/E or other cash/cards you can dump large amounts on too.
>>You’re being quite cooperative in helping the NSA build a nice database of info on you.<<
Ah, off the grid are we? Do you really think not you don’t leave a digital trail? Unless you are homeless living under an underpass you have an easily traceable e-path as well.
If they want you, they’ll get you.
Even now your IP address is traceable, and any child of 12 can break a proxy.
So I rent cars every week and fly 100,000 miles a year. They know that 6 ways from Sunday anyway.
Try to rent a car using “cash” (or a debit card for that matter). Try to buy something from Amazon.
It is a digital world — move to an island and eschew the interwebz or just give up.
Actually you won’t lose anything. I have had my card #s swiped a few times here at work (our poor cafeteria).
The CC company caught it pretty fast and shut down my card within minutes of the fraudulent charge going through and I did not have to do anything else.
Well, you will lose a bit of time getting a new card activated and changing any auto payments.
But otherwise, pretty painless.
Personally I use my Starbucks card for all financial transactions. I top it up using ingots of gold. My barista doesn’t seem to mind and he gives me a great discount. I mean, gold has been $32 an ounce for how long now?
>>You know every financial advisor? <<
Yes I do — the good ones, anyway.
>>Didn’t think so, and you certainly don’t know mine.<<
See my first statement.
I just saw an article today about the vulnerabilities in the cell phone OSs. Something like 80 in the Android OS. And how there are “fake” cell towers around the US that are exploiting these vulnerabilities.
Think I saw it here on FR.
>>Personally I use my Starbucks card for all financial transactions. I top it up using ingots of gold. My barista doesn’t seem to mind and he gives me a great discount. I mean, gold has been $32 an ounce for how long now?<<
I think the new unit of measure is Grande Lattes...
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