A year without plastic

bandraoi

Lads, just to warn those of you using debit cards for internet purchases - you don't get the same insurance as you do with a credit card. If you get scammed you're more exposed with a debit card online then a credit card.

Crown

bandraoi wrote:

Lads, just to warn those of you using debit cards for internet purchases - you don't get the same insurance as you do with a credit card. If you get scammed you're more exposed with a debit card online then a credit card.

I have heard this myself and always thought it to be true although I was listening to someone on the radio a few months back and who claims that most banks do offer some type of protection to internet using customers.

Cant remember what show but it was some american guy on a finance show.

Not sure how true it is but would be interesting if anyone has a proper legal point of view on it.

bandraoi

I think that in both cases the chances are you'll get your money back at the end of the day,

but

with a debit card, the money scammed has left your current account which leaves you borrowing money in the interim and fighting to get any interest on that back off the bank too, and possibly very short of money in the mean time.

With a credit card the money is on a bill you get at the end of the month, it's a nice clear chunk, which you can refuse to pay until the dispute is resolved etc. If the dispute is resolved on your side it's clear what the interest has built up on the debt and that won't be charged either.

livinginhope

bandraoi wrote:

Lads, just to warn those of you using debit cards for internet purchases - you don't get the same insurance as you do with a credit card. If you get scammed you're more exposed with a debit card online then a credit card.

Trouble is though bandraoi,there are a lot of us on here who cannot get a credit card anymore,so a debit card is the only option,I agree a CC is more secure,but when you don't have a choice,you have to use the debit card.

lxpeanut

Some banks have a system where you can use an online card ie Cahoots webcard. This is an electronic debit card that is generated for one purchase only with a unique number and you can set the credit limit to cover only the purchase. Other banks with internet banking do have similar things or extra protection for online purchases but its best to check before using it online.

tight_jock

The only bit of plastic I have now is my cash card. Last year we sent a cheque to cover our hols . but not sure if we can do that this year .

I can foresee problems in a hotel but apart from that none at all

Casperthefriendlyghost

mizmir wrote:

Do you still use a debit card? I don't think I could cope without plastic at all as I do such a lot of my shopping etc online. And then there is matched betting....


But I am not spending on a credit card now - still have a few and am playing them off against each other to get the best rates for the debt but not for shopping. And am putting money aside so next Christmas will be a cash one! Look forward to getting rid of cards altogether!

Hi Mizmir

I have also started putting money into seperate little envelopes for different things so that I have allocated money for birthdays, movies, going out, xmas 2007 and travelling.

I love knowing that this year when xmas comes I will have real money to use for the first time ever and will not have to worry about spending money that I do not have, and in the going out and movies envelopes I put £10 a month into each one of them and then use that money for movies or going out and when it's finished that's it, no more money. I love the freedom it gives me and that I'm not using my credit cards any more. So it'll be a great xmas for us both then, and less debt to pay off by the end of the year too. So good luck and thanx for the encouragement.

CTFG
x x x

MadDogWoman_2

Hi,

I cut up all our cards just before my CCCS appointment. We don't even have a debit card at the moment everything has to be paid for by cash.

All my family have said that if I need anything off the internet etc, all I have to do is give them the cash and they'd use their card for me or write a cheque.

We are intending to go into the bank soon to see if we can upgrade from a basic account to one with a debit card as we've been with them 6 months with no problems plus we have a savings account and an ISA with them.

Nikki

Lydia.42

We cut all ours up in Dec 05 (check out my piccie).
Got a new card through last week (0% to balance transfer to), and cut it up within 5 mins of it arriving. I'll do the same with the Egg card that should arrive in the next few days too.

Don't even think about it now. It's such a relief. Not easy paying the debts off bit by bit each month, but so good to see the total figure reduce and not get larger!!!!

Congrats on all you guys not spending for so long too!!!!!

We are getting there!!!!

tight_jock

Casperthefriendlyghost wrote:

Hi Mizmir

I have also started putting money into seperate little envelopes for different things so that I have allocated money for birthdays, movies, going out, xmas 2007 and travelling.

I love knowing that this year when xmas comes I will have real money to use for the first time ever and will not have to worry about spending money that I do not have, and in the going out and movies envelopes I put £10 a month into each one of them and then use that money for movies or going out and when it's finished that's it, no more money. I love the freedom it gives me and that I'm not using my credit cards any more. So it'll be a great xmas for us both then, and less debt to pay off by the end of the year too. So good luck and thanx for the encouragement.

CTFG
x x x

We go to the bank on payday and draw our months needs in cash , take it home and split it up into moneybags all with little labels . This is what we live on each month and any little surplus is drawn at the end of the month to put into savings.
The only downside of this is having quite a bit of cash lying about in the house so we invested in a strong box which is bolted to the cellar floor!
TJ