The 2009 Credit, Debit or Cash poll

[improper_validation]

I was just reading another thread and it looks to be time for a brandy new poll. The question is simple: What form of payment do you use most frequently?

 

Personally, I use credit for everything except tolls on the highway and that pesky water bill .

 

I would not begin to call this poll a valid sample until we had atleast 100 votes.

Edited July 3, 2009 by wcnghj

[improper_validation]

Heh, feel free to post your choice and why.

[Battle_of_Evermore]

I use credit most of the time. I do like my rewards. I only use cash for vending machines.

[hurricanesfans27]

I get rewards on debit

[azntg]

Credit by a long shot.

 

Debit for very low ticket purchases at trusted establishments only when I need a small amount of cash back (less than the $20 bills that ATMs dispense)

[improper_validation]

Credit by a long shot.

 

Debit for very low ticket purchases at trusted establishments only when I need a small amount of cash back (less than the $20 bills that ATMs dispense)

 

I see where you are going on the cash back. When I need it I use Discover CashOver. Just get four $5's back. (For tolls). It would be nice to get <$20 but having some $ in the car console is always nice.

 

I once waited 3 minutes at 2AM waiting for a lady infront of me at a toll booth search her car for change. She didn't have any.

[taxwizard]

Credit.................If they don't take credit, I try to avoid the place.........lol !

[athensgaguy]

I like my Schwab for 2% back with no work to redeem.

 

I also like my Discover More with rewards so complicated that part of my balances spreadsheet keeps track of it.

[nothingtolose]

credit cards, mainly due to rewards and flexibility but also more protections

Edited July 3, 2009 by nothingtolose

[Uncle Leo]

Right now, due more to circumstances than preference, I'm about equally split between the three. I didn't vote because there was no "all of the above" option.

 

I use credit where purchase protection is important, i.e. electronics purchases, or when larger amounts are involved, etc. But when I buy groceries or a meal it's moot.

 

I use debit primarily for groceries and when I need a little cash back. Since I currently have no rewards cards (in due time I will) I like the fact that the transaction is done with debit, and see that as actually a point in it's favor over credit, even when I PIF. To not have to even think about paying it back later is a plus, IMHO. Floats mean nothing to me... today, next month, whatever.

 

I use cash mainly for incidental stuff and some meals.

[Enjay]

I chose debit because I use it often and like it more than credit, but I use credit quite a bit too. I even spend cash here and there!

[improper_validation]

I like my Schwab for 2% back with no work to redeem.

 

I also like my Discover More with rewards so complicated that part of my balances spreadsheet keeps track of it.

 

You should ask to be converted to the miles card. Or the escape if you frequent car rentals.

[athensgaguy]

I like my Schwab for 2% back with no work to redeem.

 

I also like my Discover More with rewards so complicated that part of my balances spreadsheet keeps track of it.

 

You should ask to be converted to the miles card. Or the escape if you frequent car rentals.

 

 

 

 

I doubt that I would improve my overall rewards with the miles cards from Discover. More isn't actually one of my primary cards. I just use it for bonus categories. Right now I have some promotion going on where I get $20 bonus for spending $800 each month for June, July, and August, which is 2.75% back on top of whatever else I'll earn with the purchase. The first $300 in gas purchases for the next two months will be extra rewarding.

[kevatucr]

Some will remember my "No debit cards or cash diary" from three months ago. It has now been a total of four months without using either. I won't get into all of the dozens of reasons to use credit only as we've had this debate many times here; just that my main reason was that I got tired of being ripped off in getting change after purchases. I also like all of the money that I make in rewards. I bought a plasma for my mom and made a car loan down payment for a friend (both were loans and have been paid back) and I made $50 in rewards just for those two transactions. I will never go back to debit or cash. The 29 cents I had in my posession when I made the decision on March 1st is still SDed.

[webworm98]

Some will remember my "No debit cards or cash diary" from three months ago. It has now been a total of four months without using either. I won't get into all of the dozens of reasons to use credit only as we've had this debate many times here; just that my main reason was that I got tired of being ripped off in getting change after purchases. I also like all of the money that I make in rewards. I bought a plasma for my mom and made a car loan down payment for a friend (both were loans and have been paid back) and I made $50 in rewards just for those two transactions. I will never go back to debit or cash. The 29 cents I had in my possession when I made the decision on March 1st is still SDed.

 

Could you explain what you mean by being ripped off?

 

To all:

 

There should be another option for Credit

Credit-I just like it

 

Not all Credit Cards have rewards.

 

Here is the other poll

 

http://creditboards.com/forums/index.php?s...=264293&hl=

 

Actually I like both debit and credit cards.

[ademas]

Credit most of the time.

 

Mostly cash on purchases under $5, but that's infrequent.

 

Debit--never. I don't even need my debit card, as I only use it to get $20 from the ATM every now and then.

[WildOne]

I use crdit for everything but I don't get any rewards just an interest free loan. I am hoping it will also build up my credit so that I can get a cc with rewards someday. Before I got a cc I was really struggling to make ends meet but with a cc I am able to pay it off in full every month and have much more ease in paying my bills.

[kevatucr]

Some will remember my "No debit cards or cash diary" from three months ago. It has now been a total of four months without using either. I won't get into all of the dozens of reasons to use credit only as we've had this debate many times here; just that my main reason was that I got tired of being ripped off in getting change after purchases. I also like all of the money that I make in rewards. I bought a plasma for my mom and made a car loan down payment for a friend (both were loans and have been paid back) and I made $50 in rewards just for those two transactions. I will never go back to debit or cash. The 29 cents I had in my possession when I made the decision on March 1st is still SDed.

 

Could you explain what you mean by being ripped off?

 

To all:

 

There should be another option for Credit

Credit-I just like it

 

Not all Credit Cards have rewards.

 

Here is the other poll

 

http://creditboards.com/forums/index.php?s...=264293&hl=

 

Actually I like both debit and credit cards.

 

Yeah, the worst example was when I went to a local market and bought a small item and paid with a twenty. I was given change as if I had paid with a ten. I told the owner/cashier that I had given him a twenty. They were busy and I had to wait a half hour for him to get rid of all of the other customers and review their video tape. Then he gave me $10. I haven't been back. That is just one situation; there are more. While there are still many advantages of using credit over debit, either makes it much easier to fix problems that occur when using cash.

[Passenger25]

I get rewards from my debit card. My credit card doesn't give me anything. So the debit card is my primary instrument, and the credit card is just used a little to build history. When I can get a better credit card, one that matches or exceeds the benefits of my debit card, I'll use that. If my bank were to offer me a debit card superior to that credit card, I'd make that my primary card.

[kevatucr]

I get rewards from my debit card. My credit card doesn't give me anything. So the debit card is my primary instrument, and the credit card is just used a little to build history. When I can get a better credit card, one that matches or exceeds the benefits of my debit card, I'll use that. If my bank were to offer me a debit card superior to that credit card, I'd make that my primary card.

 

What are the debit rewards and the bank? I would use a debit card occasionally if they came close to credit rewards.

Edited July 4, 2009 by kevatucr

[LBCS]

I get rewards from my debit card. My credit card doesn't give me anything. So the debit card is my primary instrument, and the credit card is just used a little to build history. When I can get a better credit card, one that matches or exceeds the benefits of my debit card, I'll use that. If my bank were to offer me a debit card superior to that credit card, I'd make that my primary card.

 

What are the debit rewards and the bank? I would use a debit card occasionally if they came close to credit rewards.

 

Debit card rewards are quite meager and cannot be compared to CC rewards.

[Lynn37]

I voted debit, only b/c I am in the process of being 100% credit, and I am not there yet. I do not have enough credit YET!

Although my debt card from sun trust offers rewards, and air line points.

[improper_validation]

I get rewards from my debit card. My credit card doesn't give me anything. So the debit card is my primary instrument, and the credit card is just used a little to build history. When I can get a better credit card, one that matches or exceeds the benefits of my debit card, I'll use that. If my bank were to offer me a debit card superior to that credit card, I'd make that my primary card.

 

What are the debit rewards and the bank? I would use a debit card occasionally if they came close to credit rewards.

 

You could use the PayPal debit card. Set it up to take backup funds from your bank account. 1% back posts to your account when the purchase posts.

[Passenger25]

What are the debit rewards and the bank?

Flagstar. The reward program offers about 1/3% back in gift cards*. That's a very modest return, but it's better than the 0% back I can get on a credit card. If you consider benefits like extended warranty or purchase protection, a non-rewards credit card may be better on a case by case basis. But for my spending habits, getting that little bit back has been worthwhile. I think I'm going to start moving to credit, though. I just hit a redemption level on my Flagstar rewards, and my BOA secured will unsecure before I can spend enough to redeem another card from Flagstar.

 

* Technically, it's a point system. You get 1 point for every $3 when you sign for purchases (or purchase online), and 1 point for every $10 when you use your PIN. They do offer cash rewards, but the rate is terrible. You get the best return through gift cards. For me, an Amazon gift card is as good as cash. They also offer thousands of easy bonus points, especially for new customers.

[improper_validation]

What are the debit rewards and the bank?

Flagstar. The reward program offers about 1/3% back in gift cards*. That's a very modest return, but it's better than the 0% back I can get on a credit card. If you consider benefits like extended warranty or purchase protection, a non-rewards credit card may be better on a case by case basis. But for my spending habits, getting that little bit back has been worthwhile. I think I'm going to start moving to credit, though. I just hit a redemption level on my Flagstar rewards, and my BOA secured will unsecure before I can spend enough to redeem another card from Flagstar.

 

* Technically, it's a point system. You get 1 point for every $3 when you sign for purchases (or purchase online), and 1 point for every $10 when you use your PIN. They do offer cash rewards, but the rate is terrible. You get the best return through gift cards. For me, an Amazon gift card is as good as cash. They also offer thousands of easy bonus points, especially for new customers.

 

Got a PayPal account?