Check Card Cautions

Author: brybertGuest
Posted: Sat Aug 30, 2003 11:18 am Post subject: Check Card Cautions

Hi! My biggest problem with these check cards is they don't tell you all the facts about the problems these things can cause. 1. They don't tell you about holds-Understand that a merchant has a right to put any amount he wants on hold...and then the purchase amount. I'll never forget about the Hess Gas nightmare. A couple used a check card to pay for $10.00 worth of gas. According to the story, Hess put $45.00 on hold and the $10.00 on hold as well. The poor couple didn't realize this til they bounced a couple of checks due to the $45.00 being on hold. Holds fall off typically in seven business days or sooner. Never try to rent a card with a checkcard....they typically put $300.00-$400.00 on hold. 2. Valid holds can fall off as well. I had one transaction...a VISA check card purchase...that took four weeks to post. Yes...four weeks. If I had not been super aware of the $7.65 on hold for the purchase and the hold falling off...putting the $7.65 back into available...it could have caused problems and overdraft charges. Card numbers can be disabled, just like a real credit card in seconds, so the risk is not having that 800# to call on the back of the card recorded elsewhere so if the card is lost or stolen..you can cancel it. Visa check cards can be used without PINs...sooo...there is a risk if the card is not reported lost or stolen...they have been used..I'm sure...to empty checking accounts. You must decide..is the added conveinence worth the added risks and dangers. There also seems to be the false information around that it is impossible to overdraft an account with a debit card. This is not true at all. I know a person who has direct deposit..and he went to an ATM and got $20.00 out...thinking...if the money's not there...it would simply refuse the transaction. It gave him the $20.00 and caused an overdraft fee that night. How did this happen? An outstanding check he wrote and thought had cleared already had not..and posted that night as well. It's all about managing the account properly. I don't write checks. I don't have a check card. The only transactions I have are debit card ones. Makes it simpler. It's up to you....

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Check Card Cautions

Author brybertGuest
Posted: Sat Aug 30, 2003 11:18 am
Post subject: There's more...more check card cautions...

Hi! My biggest problem with these check cards is they don't tell you all the facts about the problems these things can cause. 1. They don't tell you about holds-Understand that a merchant has a right to put any amount he wants on hold...and then the purchase amount. I'll never forget about the Hess Gas nightmare. A couple used a check card to pay for $10.00 worth of gas. According to the story, Hess put $45.00 on hold and the $10.00 on hold as well. The poor couple didn't realize this til they bounced a couple of checks due to the $45.00 being on hold. Holds fall off typically in seven business days or sooner. Never try to rent a card with a checkcard....they typically put $300.00-$400.00 on hold. 2. Valid holds can fall off as well. I had one transaction...a VISA check card purchase...that took four weeks to post. Yes...four weeks. If I had not been super aware of the $7.65 on hold for the purchase and the hold falling off...putting the $7.65 back into available...it could have caused problems and overdraft charges. Card numbers can be disabled, just like a real credit card in seconds, so the risk is not having that 800# to call on the back of the card recorded elsewhere so if the card is lost or stolen..you can cancel it. Visa check cards can be used without PINs...sooo...there is a risk if the card is not reported lost or stolen...they have been used..I'm sure...to empty checking accounts. You must decide..is the added conveinence worth the added risks and dangers. There also seems to be the false information around that it is impossible to overdraft an account with a debit card. This is not true at all. I know a person who has direct deposit..and he went to an ATM and got $20.00 out...thinking...if the money's not there...it would simply refuse the transaction. It gave him the $20.00 and caused an overdraft fee that night. How did this happen? An outstanding check he wrote and thought had cleared already had not..and posted that night as well. It's all about managing the account properly. I don't write checks. I don't have a check card. The only transactions I have are debit card ones. Makes it simpler. It's up to you....

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credit card monthly service charge

Author Ira(Member for 2 yrs.+) Joined: 19 May 2003 Posts: 597Location: NJ
Posted: Mon Sep 15, 2003 10:27 pm Post subject: Could this be true???

The following was sent to me yesterday. I cannot vouch for its truthfulness. It sounds very much like an urban legend, and I've deleted the name of the bank to protect the guilty. For what it's worth, then............. My Aunt died this past January. Her Bank billed her for February and March for their monthly service charge on her credit card, and then added late fees and interest on the monthly charge...the balance had been $0.00... now was somewhere around $60.00) I placed the following phone call to The Bank: Me: "I am calling to tell you that she died in January." Bank: "The account was never closed and the late fees and charges still apply." Me: "Maybe you should turn it over to collections..." Bank: "Since it is 2 months past due, it already has been." Me: "So what will they do when they find out she is dead?" Bank: "Either report her account to the frauds division, or report her to the credit bureau...maybe both!" Me: "Do you think God will be mad at her?" Bank:"...excuse me ....?" Me: "Did you just get what I was telling you.... the part about her being dead?" Bank: "Sir, you'll have to speak to my supervisor!" (Supervisor gets on the phone) Me: ''I'm calling to tell you, she died in January." Bank: "The account was never closed and the late fees and charges still apply." Me: "You mean you want to collect from her estate?" Bank: ".....(stammer)" "Are you her lawyer?" Me: "No, I'm her great nephew." (Lawyer info given... ) Bank: "Could you fax us a certificate of death?" Me: "Sure." ( Fax number is given ) ( After they get the fax. ) Bank: "Our system just isn't setup for death..." Me: "Oh..." Bank: "I don't know what more I can do to help..." Me: "Well... if you figure it out, great! If not, you could just keep billing her...I suppose...don't really think she will care...." Bank: "Well...the late fees and charges do still apply." Me: "'Would you like her new billing address?" Bank: "That might help." Me: " ( Odessa Memorial Cemetery #### Hwy 129 and plot number given. ) Bank: "Sir, that's a cemetery!" Me: "What do you do with dead people on your planet?!!"_________________Do not let what you cannot do interfere with what you can do. Ira View our latest credit card ratings!