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  • credit card debit FAQ


    Because when you use a credit card, the merchant has to pay a fee, which is usually 3% to the bank. So...this way the bank makes more $.


    Both work just fine. I take both when I go. However, I use a visa prepaid travel card. I get that from my credit union. I would be willing to bet most banks have them now instead of Travelers Checks. Hope you enjoy your trip. Have a nice day!


    Debit, hands down. the bank will automatically calculate the difference in transaction rates. (and I'd say go VISA for a Debit/Check Card... it's everywhere you want to be... man that's corny)

    When it comes to credit cards, try not to


    Rub it along the back of a loudspeaker ot other powerful magnet, that should inactivate any coding it has or simply enter the incorrect PIN number over 3 times in a row.

    credit card debit news

    Battle over debit card swipe fees goes on

    18.05.12

    The Electronic Payments Coalition, which represents credit unions and community banks, countered that gas would be much less expensive if station owners passed on to their customers an estimated $1 billion in savings from lower debit-card fees.

    The gas spat represented yet another skirmish in the battle between the financial services and retail industry over the fees retailers pay banks and card processing networks when customers use their debit cards. The broad financial overhaul legislation that Congress enacted in 2010 required the Federal Reserve to issue rules that place "reasonable" limits on swipe fees. In June, the Fed voted to cap the fees at 21 cents per transaction, plus 0.05% of the purchase price to cover fraud-protection costs.


    Source: USA TODAY

    Spendthrift? Use debit card

    18.05.12

    ** Is there any relationship between home loan approval and credit card usage? I am planning to take a home loan after two years and I want to cancel my credit card due to overspending.

    Your payment track record on credit card dues will have a strong bearing on your ability to get home loan in future. If you have defaulted or delayed in the past on credit card payments, banks are unlikely to grant you a home loan (or any other loan for that matter) except the one which is fully backed by tangible movable i.e. easily en-cashable security like loan against gold or shares or bank fixed deposit. Hence, it is advisable to make timely payments on your credit card dues to avoid having default reflect in your credit history.


    Source: Deccan Chronicle

    USA Today Article Punctures Banks' "Swipe" Fee Myths

    18.05.12

    WASHINGTON, May 11, 2012 (BUSINESS WIRE) -- In a news story today, USA Today exposed some of the myths banks propagate about hidden, exorbitant "swipe" fees the banks charge retailers when customers buy with credit or debit cards, said the Merchants Payments Coalition.


    Source: MarketWatch (press release)

    credit card debit about


    Credit care: Dealing with a deceased parent's card debt
    Credit care: Dealing with a deceased parent's card debt

    Is credit card debt protection worth it?


    Credit Card Swipe Fees: A Hot Topic for Alabama Businesses
    Credit Card Swipe Fees: A Hot Topic for Alabama Businesses

    Barrasso: Obama wants new credit card
    Barrasso: Obama wants new credit card

    no limit on hypocrisy when it comes to nation's debt
    no limit on hypocrisy when it comes to nation's debt