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Debit Cards

August 05, 2017 01:16AM
I'm a credit card churner. I also have a strict budget for my expenditures every month. I use the debit card with one checking account because they reimburse all charges for up to 10 ATM transactions. I rarely use the ATM more than once a month. I only get it for shops I know need cash and the dinky little towns that won't allow a debit or cc purchase unless it's $10 or more.

I'm a big fan of the reward cards. I have a card that pays my father's internet bill for a year with its bonus. The monthly bills like health insurance, phone, electric and food pay for the pet food, Netflix, the dental insurance and some of the Hulu bill when I activate it for the season, plus there is cash leftover to apply to my property taxes.

I have the Amazon rewards card with Chase. I can use it to pay off the part of the bill that is over minimum balance or save it for a rainy day for Amazon. I'm not a big spender on Amazon so I save it for the rainy day.

Veterans need to look at reward cards particularly with USAA. USAA offers a card that gives cash back of $300 if you spend $3000 at the BX. I don't remember when it is going to start but veterans will be allowed to purchase from the BX on line. I also don't remember the actual name because it isn't the BX. I also do not know if it applies to on line purchases.

When I royally messed up my credit; I went from a person who paid off her bills every month to one who only made minimum payments. And then couldn't meet her minimum payments. If you are a minimum payment person, don't do credit cards and stick to cash, checks and debit. Trust me the mess and time to fix everything is not worth the immediate joy for the purchase you knew you really couldn't afford in the first place.

Yep, wrote another novel! Looking forward to the feedback.

Live your life in such a way that when your feet hit the floor in the morning; the devil shudders...And yells OH #%*+! SHE'S AWAKE!
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August 05, 2017 01:58AM
Me too, CQ. I grew up poor and still lived a frugal existence while putting myself through college and working two jobs. I had to do that. I still am such a spendthrift it drives my husband crazy, because even when he is paying for it and tells me not to worry about how much it costs...well, I worry about how much it costs!!!!

@CoffeeQueen wrote:

This is exactly how I am. I grew up poor. Or as Oprah calls it, "Po'". Most of the time I only buy what I need, but I have zero guilt about going on a shopping spree from time to time. I have carried the same $50 around with me for weeks on end, because we use credit cards for everything.

@JASFLALMT wrote:

Right, the cash is for energencies like being somewhere that doesn't accept credi cards or if their machines are down. Other than gas, personal care, household items, and groceries, birthday and Christmas presents, I rarely use cards for anything except for mystery shopping expenses. A few times a year I go clothes shopping. The thing is, I am so frugal year round, when I feel like splurging I can buy what I want with no guilt or pain.
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August 05, 2017 01:59AM
@MSNinja wrote:

i only spend what i can afford & pay off by due date.

Many people spend what they can afford & pay off by the due date. That is not my argument at all.

There are reasons that a body stays in motion
At the moment only demons come to mind
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August 05, 2017 02:03AM
@MSNinja wrote:

i treat cc similar to cahs or debit. i only spend what i can afford & pay off by due date. unless 0% promo which i always pay like triple the minimum amount. debit & cc earn points or cash back. cash doesn't. cash is very dirty.

I triple like that, cash is disgustingly dirty!!
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August 05, 2017 02:31AM
@bgriffin wrote:

The lack of financial sense certainly doesn't help, but the fact still remains that people spend more with credit. People with excellent financial sense spend more with credit. More education isn't going to help because it's a psychological issue. When you spend cash (and less so but still true with debit) the pain of paying is bound to the pleasure of what you have purchased.

Let's say you are in the market for a new TV. You have $1000 in your pocket that you want to spend on a TV. So (for simplicity's sake) you take that $1000 to a store and say I want the best TV I can get for this amount. And you buy a TV for $1000. On the other hand you decided you have $1000 in your checking account that you want to buy a TV with, but you're a "credit" user and want your points or extended warranty or whatever reason. So you go into the store to buy your $1000 TV and you learn about the new wiz bang TV that is $1100. Even if you have the extra $100 in your pocket when you go in with cash, it will be much more difficult to talked into spending it when you pay cash. When you use a credit card you don't bond the pain of spending the extra $100 to the benefit, only see the benefit.

So maybe you're a person who wouldn't spend the $100 on a TV or some other big person. There are certainly people who do that. But a person who uses credit for everything will have thousands of transactions in a year and there will be some that they are more susceptible to. Maybe it's getting the venti instead of grande at Starbucks. Maybe it's offering to pick up your coworker's lunch one day at McDonald's. Whatever. EVERYONE has a weakness and over the course of year EVERYONE will at some point spend more because they used a credit card instead of cash or debit.

And let's be clear. I'm not saying people who always use credit have bad financial sense. I'm not saying they don't get enjoyment out of whatever larger amount they spend. I'm not saying the amount they spend isn't worth it. I'm not saying they are overspending. All I am saying is that at some point they are spending more using a credit card than they would if they only used cash. Does that amount vary by person? Absolutely. But it's still there.

Who is this "you" that you speak of, griff? I am not "people", I am me. If I went somewhere and only had $1,000 in my wallet and found a TV (or something) that I wanted that cost more than $1,000, I would either write a check or go get more money and spend what I wanted on that TV without feeling a bit of guilt or pain. A credit card would save me the trouble of having to do that. I am going to spend the same amount of money on getting what I want regardless of how I pay for it, though credit cards are undoubtedly better (for me) than paying cash for multiple reasons. And for the record, I don't go to Starbucks or other places where people waste their hard earned money, and I am the type of frugal girl who keeps a cooler with drinks and snacks when on the road so I don't have to spend money. I haven't been to a McDonald's since the last time I was paid to do a shop there. And, if I go out with a friend I am going to spend the same amount on whatever I buy regardless of the form of payment. I am not a statistic. Furthermore, if it weren't for credit cards, I would make much less money because I would not be willing to put out cash for the many reimbursement shops that I do (such as those profitable convenience stores).
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August 05, 2017 02:34AM
@JASFLALMT wrote:

Furthermore, if it weren't for credit cards, I would make much less money because I would not be willing to put out cash for the many reimbursement shops that I do (such as those profitable convenience stores).

You can get pissy at me if you would like because I have a different opinion than you, although it's honestly not something I would expect from you.

But thanks for proving my point for me. Cash is "harder" to spend emotionally and your statement says that.

There are reasons that a body stays in motion
At the moment only demons come to mind
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August 05, 2017 02:34AM
Also that reply wasn't even directed at you.

There are reasons that a body stays in motion
At the moment only demons come to mind
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August 05, 2017 03:35AM
I'm not pissy at you. My point is that cash is inconvenient when I'm working, nothing emotional about it.
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August 05, 2017 06:48AM
Now, now please don't start fighting JAS...& 'griff. I cherish both of you for giving strong and great advice. We're all allowed to disagree. I only use cash for the dinky towns and shops that require it. If my purse gets swiped, I can call and cancel the plastic almost immediately, as long as they don't get my phone. Reminds me, need to write my brother's phone number down, so he can cancel my stuff if I ever have a Cettie situation. (Cettie rocks my world)

I'm loving this thread. And you 2 are always shoppers I pay attention when I see you've posted.

Live your life in such a way that when your feet hit the floor in the morning; the devil shudders...And yells OH #%*+! SHE'S AWAKE!
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August 05, 2017 07:00AM
Thanks, MA. I appreciate it. I don't have a problem with griff. He just put his undies on backwards yesterday and isn't thinking straight, lol.
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August 05, 2017 07:20AM
At my local Chick-Fil-A earlier this evening, it came down to an iced tea I wanted to purchase while I watched my neices play in the play place there. I knew I wanted a drink, but then it came down to which size: small, medium or large. Since I knew I was going to be there for a while, I saved a couple of pennies and purchased a small, as I knew I could get refills and I did at least 3-4 times while they played and I browsed the net. I thought about the purchase for a long and hard 5 seconds. But when it came to a form of payment, I did not hesitate a split second to choose my slick, metal Chase Sapphire Preferred card over my stinky $1 bills I had bundled with a binder clip as my spare change. And with my credit card purchase, I was randomly awarded a customer service survey in exchange for a free Chick-Fil-A sandwich! Talk about a winner there. Thank you Chase for influencing my spending habits!

Very infrequently shopping the Greater Denver Area, Colorado Springs and in-between in Colorado these days.
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August 05, 2017 12:47PM
How interesting This thread came up the morning my husband and I had quite a discussion last night when he discovered I had been putting all my purchases on my credit card instead of my debit card. Seems we were both right . It's a personal opinion. I use the credit card to get the points and to make sure if someone happened to get my account info they would only have access to the card, not my whole banking history. I pay it in full every month. He's afraid I will get out of control and run up a bill. How dare he!
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August 05, 2017 01:16PM
I tend to spend cash more freely, although, like I said, I am not free with any kind of payment. However, in my mind cash is there for pocket money and can therefore be spent. Credit cards bring a bill at the end of the month. Cash does not. Therefore I am more likely to spend cash in small amounts than I am to use a credit card for impulsive purchases.
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August 05, 2017 01:53PM
I can't think of any times I lingered over another glass of wine at a restaurant, ordered lobster instead of chicken or bought a higher priced pair of jeans because of my chosen payment method. My enjoyment or pain when it comes to spending money is simply based on whether it is a want or a need. Unless of course I'm spending someone else's money. That never hurts at allsmiling smiley

Equal rights for others does not mean fewer rights for you. It's not pie.
"I prefer someone who burns the flag and then wraps themselves up in the Constitution over someone who burns the Constitution and then wraps themselves up in the flag." -Molly Ivins
Never try to teach a pig to sing. It's a waste of your time and it really annoys the pig.
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August 05, 2017 02:32PM
I have felt pain when using my credit card before, and it generally invoved car expenses like tires, brakes, etc. Cash or credit it would have hurt the same.
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August 05, 2017 03:25PM
I'm over this discussion honestly. But I find it hilarious that many of the people who refuse to even consider my point that is backed up by research and fact are the same people that laugh at climate change deniers for not considering research and fact.

There are reasons that a body stays in motion
At the moment only demons come to mind
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August 05, 2017 03:40PM
You know what I find hard to believe? That you refuse to believe every single person acts and reacts the exact same way. Even the studies you cited showed trends. At no point did they state unequivocally it was everyone. Did you ever consider you are on a forum with people who by their very nature may be more concerned about finances than average and are not prone to take things for granted? Several of us have given reasons why we either changed our habits or they were ingrained from childhood.

While I initially found the link to the studies useful and felt they contributed, I now feel like I am in church with a pastor berating me to admit my sins, whether they exist or not.

Equal rights for others does not mean fewer rights for you. It's not pie.
"I prefer someone who burns the flag and then wraps themselves up in the Constitution over someone who burns the Constitution and then wraps themselves up in the flag." -Molly Ivins
Never try to teach a pig to sing. It's a waste of your time and it really annoys the pig.
Reply
August 05, 2017 03:45PM
I can think of many times when I was using credit cards (before I wised up), when I'd see a great pair of jeans (Calvin Kleins) and say, their made better, will last longer, so just buy them. The truth is, that is true. My good expensive purchase's over the years i am still wearing and thankful to have them. I just can't do it anymore, so don't, but still believe well made clothes, cars, appliances, whatever,are a saving in the long run. I know the stuff I buy at Kohl's doesn't wear well, get spots that don't come out, are all made in China and don't last past a summer. You get what you pay for i was raised in a clothing family and taught about quality and no, we weren't rich, but my Uncle owned Gordon of California, manufacturing woman' coats and suits, amy Mother worked for him, and my sister worked for Sak Fifth Ave, Couture (i still have those clothes and they look like new.) I watch money and have a thrifty bone, and a good eye for what fits well and is made well. Maxing out a credit card, thanks, but i'll use my debit, and by the way, what's cash.....and why pick on BG, his stating fact which (of course) doesn't apply to everyone, but does apply to most at one time or another....many just don't want to admit it, .we all have an addiction, weather it be spending, drinking, food or the forum....admit it and let's move on. This holier than thou attitude....well.....

Live consciously....


Edited 1 time(s). Last edit at 08/05/2017 06:01PM by Irene_L.A..
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August 05, 2017 06:42PM
To each their own and everyone is different. I don't have a problem with people using their debit cards and cash, it works for them and that's great. I've never maxed out a credit card and would be horrified to pay interest on a credit card. I use the credit cards to make money. I hardly have a holier than thou attitude and I have many flaws, but overspending is not one of them (regardless of the form of payment). I do have addictions, but again, spending money is not one of them. I am not "picking on" griff, but I hate it when people try to put me in a category and stereotype me. Griff, just admit that not everyone is alike and not everyone has a character that can be lumped into a statistic based on studies. I have no doubt that this applies to the MAJORITY of people, but it doesn't apply to me. We don't have to keep arguing about it, griff, and if you are done with this conversation that's great, I can be too because it's obvious that we are not going to agree on it.
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August 05, 2017 06:54PM
Griff was quoting a survey, it was NOT personal. I totally got it as it was info.taken professionally....that's all.

Live consciously....
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August 05, 2017 06:59PM
@JASFLALMT wrote:

To each their own and everyone is different.

True

@JASFLALMT wrote:

I don't have a problem with people using their debit cards and cash, it works for them and that's great.

And I never implied, insinuated, or said that I have a problem with how anyone pays for anything either. This is tangential to my point.

@JASFLALMT wrote:

I've never maxed out a credit card and would be horrified to pay interest on a credit card.

And I never implied, insinuated, or said that I thought you did. This is completely tangential to my point.

@JASFLALMT wrote:

I use the credit cards to make money.

And I never implied, insinuated, or said that I thought you didn't. This is completely tangential to my point.

@JASFLALMT wrote:

I hardly have a holier than thou attitude and I have many flaws, but overspending is not one of them (regardless of the form of payment).

And I never implied, insinuated, or said that I thought you did. This is completely tangential to my point.

@JASFLALMT wrote:

I do have addictions, but again, spending money is not one of them.

And I never implied, insinuated, or said that I thought you did. This is completely tangential to my point.

@JASFLALMT wrote:

I am not "picking on" griff, but I hate it when people try to put me in a category and stereotype me.

If "human" is a category or stereotype you don't like then I can't help it. Other than that I have put no one in any category nor have I stereotyped anyone.

@JASFLALMT wrote:

Griff, just admit that not everyone is alike and not everyone has a character that can be lumped into a statistic based on studies. I have no doubt that this applies to the MAJORITY of people, but it doesn't apply to me.

I think it does apply to everyone. That's fine if you disagree. I have no problem with that, but honestly I think you are defensive about the subject because you think I am insinuating that people who use credit cards are somehow financially irresponsible or something by making the statement.

@JASFLALMT wrote:

We don't have to keep arguing about it, griff, and if you are done with this conversation that's great, I can be too because it's obvious that we are not going to agree on it.

I am done. I only replied because you addressed me specifically.

There are reasons that a body stays in motion
At the moment only demons come to mind
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August 05, 2017 07:02PM
Repetitive, much?
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August 05, 2017 07:04PM
Too defensive to consider a different opinion much?

There are reasons that a body stays in motion
At the moment only demons come to mind
Reply
August 05, 2017 07:13PM
Argumentative to the point of being stubbornly boorish, much? I consider your opinions to be in general, correct, and we usually agree on things, but the way you have been presenting your opinion in this particular thread is as if it were an indisputable fact--which is incorrect.

Edited to add that previously you were stating it was a fact, now it's an opinion? Which is it, griff?

Edited 1 time(s). Last edit at 08/05/2017 07:15PM by JASFLALMT.
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August 05, 2017 07:23PM
My opinion is that the research shows it is a fact.

What I don't understand is why you're so defensive about it?

If 1000 random people did an exercise where for 6 months they paid every expenditure in cash and for 6 months they paid every expenditure with a credit card 1000 of them would spend more during the 6 months they used a credit card. For some of them it may only be a few dollars, for other it would be thousands, but 1000 of them would spend more. Research has shown that. I have posted links. I could post a few hundred more of them if you'd like.

There are reasons that a body stays in motion
At the moment only demons come to mind
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August 05, 2017 07:43PM
@bgriffin wrote:

EVERYONE has a weakness and over the course of year EVERYONE will at some point spend more because they used a credit card instead of cash or debit.

And let's be clear. I'm not saying people who always use credit have bad financial sense. I'm not saying they don't get enjoyment out of whatever larger amount they spend. I'm not saying the amount they spend isn't worth it. I'm not saying they are overspending. All I am saying is that at some point they are spending more using a credit card than they would if they only used cash. Does that amount vary by person? Absolutely. But it's still there.

Because I do not fit the bill of what you wrote above. I am not stating an opinion, I am stating a fact about myself. Choose to believe it or not, but your "study" is not 100% entirely correct because they obviously did not study EVERYONE.
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August 05, 2017 07:46PM
That's awesome. You probably even spend less!

There are reasons that a body stays in motion
At the moment only demons come to mind
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August 05, 2017 08:29PM
Jas, I suggest you give lessons or write a blog about how NOT to misuse one's credit card, i'm serious, this would be an opportunity for one to learn.

Live consciously....
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August 05, 2017 08:30PM
I'm sure it's already been done.
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August 05, 2017 09:06PM
@bgriffin wrote:

@MSNinja wrote:

i only spend what i can afford & pay off by due date.

Many people spend what they can afford & pay off by the due date. That is not my argument at all.
didnt know we' re arguing. thx for heads up.
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