Money Tips: Should I get an ATM or debit card in addition to my credit cards?

Posted On: April 15, 2007

Guest: georgee
Credit Expert (100+ Posts)
Post subject: Should I get an ATM or debit card in addition to my credit cards?
Posted: Sun Apr 15, 2007 5:29 pm

Hi, LustfortheMoment:

I do have a checking account, and I also have a “plain old ATM card” (i.e., no MC or Visa logo).

I do not carry the ATM card, because I use so little cash. I am scared of debit (i.e., with MC or Visa logo) cards because my checking account balance can be drained, even without a PIN, if someone gets a hand on it. Even though you get your money back, there is a ‘dispute’ time when you are out of the money, and your checks written already can bounce, etc.

Obviously, even if I had a debit card, I would only use it to get cash or deposit checks. In an extremely rare circumstance, if I went into a store which only takes cash or PIN-based debit cards, I suppose I could use it to buy something by entering my PIN. Those would be the only uses for it, but I can do all that with my ATM card, too. It has a $500 daily withdrawal limit, and I really don’t travel overseas.

Do you think I should start to carry my ATM card, or should I get a debit card?

What will a debit card do for me, in my situation, that my ATM card won’t?

Guest: multiplierx
Credit Expert (100+ Posts)
Posted: Sun Apr 15, 2007 5:53 pm

I don’t use debit cards. I have an ATM-only card from WAMU for deposits and cash withdrawl.

I carry cash in my wallet for emergencies and the few times credit cards wouldn’t be an option. There are actually quite a few situations I can think of that would be cash only.

It’s extremely rare for me that AMEX isn’t accepted. Blue is my primary card but I also have Visa/MC/Discover/JCB in my wallet.

Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sun Apr 15, 2007 6:14 pm

$5.00 in pocket change is about the most I carry

(mostly QUARTERS for vending machines)

$100

????????????????

Labels: credit cards and ATM card?