"Debit or credit?" = the new "Want fries with that?"

"cash back?" = "need ketchup or napkins?"

Kill your heart, or drown you in debt.

In Holland they have NO currency anymore. Everything is debit cards these days.

I have a good friend that lives in Holland and he was telling me that he couldn't understand the thing with credit cards here in the USA. I told him those words "cash back" and then he understood the lure.

However, NO CURRENCY at all! No coins, no nothing! When will the USA become like this or will they?

:think: Old coins (numismatic) are looking really good as an investment!

Yikes!

:kick:

to Russia, where the US $20 bill is king.

I don't see America doing away with cash anytime soon, and that's fine by me. I'm not comfortable with losing all physical representation of whatever wealth I've managed to acccumulate.

I use my debit card all the time-- it's convenient for situations where plastic is preferred, instead of carrying cash, etc. I'm sure most of us do this. "Credit" in this instance is something of a misnomer unless I'm missing something-- my bank account is automatically debitted and I don't carry any debt at all-- as far as I can see it's nothing more than a proceedural difference at the cash register. I don't use "regular" credit cards, period, so I have NO consumer debt. What am I missing about your OP?

But this is because of my lack of self control. With cash I have a finite amount that I can use and after that I don't have any more, with a debit card I could totally drain my bank account.

in a store, I notice that just about everyone else uses a debit card. In fact, I am very surprised when I see someone pay with cash. I don't even have any cash in my wallet.

n/t

find it amazing that people will use their checkbook for any purchases but they do

"Want fries with that?" has become a phrase to represent the growing trend of McJobs. I was in a store the other day preparing to pay with a bank card and the cashier asked me the also ultra familiar question "debit or credit?" referring to which type of card I was using. I was struck by how often I hear this question now too and it seemed to me to be the equivalent of the fries question.

I suppose another equivalent, or at least honorable mention, would have to be "paper or plastic?"

That's my favorite one.

When you are leaving one of those Best Buy-type places and they have a guy stationed there to go through your bag.

Is that even legal?

Oops.

some are strictly "bank account" limits only.

for instance, one of our debit cards with a MC logo on it is UNIVERSALLY accepted because a single transaction could be as high as $10K, whether or not we have the money in the account, and when used as "credit", a pin number is not even necessary..(the clerk is supposed to verify ID).. when used as "debit", a pin is required, but if your account does not have enough in it, the purchase will be rejected.

The cards with a logo on them (Visa-MC) are like a "super overdraft" protection card. Merchants know that when they are used, they don't have to worry.

freeze some of your dollars for instance when you buy gas or maybe other things and you could end up not being able to draw on your funds. Maybe someone could explain this? The other day I was told at Super Fresh that sometimes they only allow you to write one check a day there. What is this - Communist China? Only credit rules in the USA! If you try to use money they put obstacles in front of you every step of the way.

can happen when you buy something (like gas or dinner or a hotel room) and the final final price is not yet known. So they take an educated guess and freeze that money to ensure that the merchant gets paid and the bank minimizes their loss potential. In most cases, the hold will come off on its own once the transaction is finalized but not all institutions do (or can do) that and holds can stay in place for up to 10 days.

Now with a credit card it is no big deal, it's not "real" money, but with debit cards it is real money and can cause some issues.

Now, of course the banks could shorten or eliminate the hold provision but I think that would consider that as an unacceptable level of risk (and based upon my past life as a credit card fraud manager, I can pretty confidently say that if that freeze provision was removed, someone would find a way to exploit thatloophole and exploit it to the absolute maximum.)

Dealing with cash can be a nuisance in some cases. For example, it's a lot easier to use a debit card to pay at the pump for gas than it is to use cash, which may require prepayment and at a minimum forces you to go into the store.

But credit is way too easy to get. With the way credit card issuers prey on young adults without much financial experience, it's no wonder so many people are facing crippling consumer debt.

Another way to keep worker bees in their place.

on a Happy Meal?

... and the "cash back" option saves a trip to the bank.

However, I do try to limit using them, because I get charged .35 for every debit transaction.

Imagine going to a state fair and using debit cards to ride on rides, play midway games or buy cotton candy? How long before our insurance companies are able to access all the wealth of info on our buying habits that the cards will provide them. Will our health insurance premiums go up because we bought 5 corndogs and ate deep fried twinkies all day and are thus a risk for heart disease? Maybe they'll cancel us entirely. Or your car insurance increases because you drive too much or they don't like the neighborhoods where you buy gas?

How will you loan your ne'er do well brother-in-law a few bucks until payday? Or heaven forbid, buy something in the underground economy? Even kid's allowances become problematic.

I'll take my good old piggy bank anytime.