Best Way to Have Availability to Cash?

[sanger727]

Okay... just curious... why do so many people hate Credit Cards?

 

 

 

 

 

 

 

(other than those unable to control their spending)

 

 

 

Well, there's 2 separate issues in this thread

 

1. People that don't use credit cards - can't help you there. I love credit cards for the rewards, convenience, and security. I never carry a balance so it's free.

 

2. People that don't use credit cards when traveling - I do take cards for emergencies and definately am fine using them for a reputable store purchase or a sit down meal. But I also take lots of cash on vacation. 1. I usually use independent tour operators and many give a cash discount. 2. If we eat or shop it's usually more along the lines of a beach shack or straw market. No idea if they take cards or not but just prefer cash for those purchases.

 

Not entirely sure why people equate credit cards = debt or that debt = bad. You can certainly be a smart budgeter - but very few people can afford to pay off their first house in cash. Some debt is inevitable, as long as you live within your means it's not always bad. Second, I've never carried a balance on my credit cards - just received thousands in free rewards for using them.

 

 

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[maggie cruises]

*Sigh* Holds on Debit cards are dependent upon your banks policy, NOT a blanket thing.

 

 

 

I have no debt, no mortgage (own home), no car payments (own cars), no credit cards (smart). I just have a debit card. My banks policy is all holds MUST close by end of business. Meaning the vendor who put the hold on my card either has completed the transaction or the hold is removed. If your bank is holding your money for a long period of time I recommend a new bank.

 

 

 

To carry a MasterCard or Visa logo on their debit cards all banks MUST comply with certain rules and MAY comply with others. My debit card works exactly like a credit card, with the exact same benefits and protections. Shop around, find a bank that offers a great debit card, and cut up your credit cards.

 

 

 

I have several credit cards that offer me interest free for 15 months plus bonus points and regular monthly points. I charge every possible thing on them. I never pay interest and never pay late and have weekly online payments that I have directed ( I never allow any company to debit my account) my bank to pay to my credit cards so I pay on a regular basis just like if I used my debit card and saw the immediate payment only I have the safety and security of using a credit card

 

My credit score is over 800

 

I've earned over $1500 in cash back alone this year on those interest free cards

 

 

So tell me why I should use my debit card for anything at all other than to grab a quick $20 from an ATM?

 

Why would I ever hand my debit card over to buy groceries?

 

Why would I let some clerk or store have any sort of access to my checking account?

 

I always travel with 2 credit cards and a debit card attached to a special travel only checking account as I'm not stupid enough to expose my regular checking account to fraud

 

I always travel with several hundred dollars in cash secured appropriately and have never had any issues

 

So tell me what I'm doing wrong by using credit cards for 99% of my spending and traveling?

 

lol it's a rhetorical question of course but I'm still interested in opinions as to what I'm doing wrong.

 

Oh and I like having a mortgage....my friends who own their homes outright are the biggest complainers when it comes to finances...because all their money went to pay off the house

 

 

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[maggie cruises]

Okay... just curious... why do so many people hate Credit Cards?

 

 

 

 

 

 

 

(other than those unable to control their spending)

 

 

 

1. You hit the nail on the head with controlling spending

 

 

Also...

 

 

2. They are in cash businesses and hide the cash so their reportable income is so low that they don't qualify for cards plus they need a way to use the cash that untraceable so they purchase everything for cash

 

3. They are the epitome of "old school" thinkers and will never change. Their loss of course.

 

4. They have so many financial issues that no bank will give them a card.

 

5. They don't understand the need for credit cards nor do they care nor are they financially savvy enough to understand them

 

And my all time favorite...

 

7. They think it's a badge of honor to announce..."I only pay cash, never credit cards"

 

 

I know someone who lamented for years that he couldn't get a car loan...

 

I asked if he had any credit history...he proudly responded....no I only pay cash!!!

 

He had no clue why they would give him a car loan!!!! It took me 10 seconds to explain why he didn't get one....he had no credit history. Lol

 

 

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[zqvol]

OP is never leaving the US. Not sure what the problem with using a debit card in the ATMs ashore will cause. If you don't want to do that get any CC and pay it off when you get home.

[FreestyleNovice]

Interesting read, a bit surprised most users deeply dislike an ATM fee whilst anyone on here tips like a mad man for even the smallest rendered service. ;)

 

In West Europe it's almost the opposite situation; you use a debit card (your checkings account) for daily living and a credit card on the side.

 

We have to pay a fee either way if we withdraw USD with a debit card at an overseas ATM, here are some general costs from a Dutch bank:

 

Withdraw at ATM;

Debit card: +1% and a $2-3ish fee, pre-cruise at home at an exchange office would be at least equal and probably higher.

Credit card; +4% with a minimum $5 in fee and a 2% higher exchange rate.

 

Paying direct with card;

Debit card; +1.2% and a $0.20 transaction fee.

Credit card; +2.0% and no fee.

 

So paying with an European debit card (chip and PIN) is preferred, with some cash withdraws every other day for pocketmoney and tips, we don't have to carry large amounts of foreign cash that we may end up not using. And a big plus is that one of our credit cards is kept for (almost) solely for the onboard account (hold) and as emergency method of payment. But a well balanced checking and savings account would be enough, which can be transferred within those accounts on the fly with the bank's app. With the same app you can block a lost debit card and insurance for any potential financial loss is normally well organised.

 

That's how we travel. :)