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Has anyone here ever switched to just using a debit card?

M

manlymatt83

Lifer
I have a decent amount of debt that I'm trying to pay off. It's definitely working, and it's heading down, but I find that if I pay cash for something, I'm much less likely to get it or splurge than if I use a credit card.

So I'm thinking of sock drawing all my cards, keeping one in my wallet with a low limit for emergencies, and just paying for everything with a debit card.

Does anyone else do this? Does it help them control spending?

And for those who will say "Don't buy something if you can't afford it", I haven't done that in over 2 years.

-M
 
To me, a credit card is basically the same thing as my debit. I don't use it unless I have the money in the bank to pay it off right away. I pretty much only use my credit card for online purchases and bills.
 
I use debit card most of the time though the 1.5 service charge per transaction can add up, so usually if I'm going on a shopping spree I'll take out cash first then just use the card for the huge purchases.

I use my credit card too but mostly just for internet stuff and I pay it off right away. I have a 1k limit and I've actually maxed it out, but then paid it right away. I've never had to pay interest on that card. Visa probably hates me. 😛
 
My spending has nothing to do with whether I use credit or debit since I pay everything off (which you say you do...)

My credit card gives up to 3% cash back and my debit card does not.
 
Originally posted by: RedSquirrel
I use debit card most of the time though the 1.5 service charge per transaction can add up, so usually if I'm going on a shopping spree I'll take out cash first then just use the card for the huge purchases.
Click to expand...

Get a decent debit card that doesn't have those charges. 🙁
 
Originally posted by: coldmeat
To me, a credit card is basically the same thing as my debit. I don't use it unless I have the money in the bank to pay it off right away. I pretty much only use my credit card for online purchases and bills.
Click to expand...

 
There is generally more consumer protection with a credit card (fraud protection, charge dispute, extended warranties, etc), so I almost exclusively use my credit card. I do pay it off completely each month.
 
Originally posted by: TallBill
Originally posted by: coldmeat
To me, a credit card is basically the same thing as my debit. I don't use it unless I have the money in the bank to pay it off right away. I pretty much only use my credit card for online purchases and bills.
Click to expand...
Click to expand...

Same. If your debit card gets stolen, thats linked to your checking account. Last thing you need is am empty checking account. If your CC gets stolen it's "Fake money" and you have time to get it back. Just use credit card and pay it off the same day like it were a debit card. That's what I do.
 
Originally posted by: D1gger
There is generally more consumer protection with a credit card (fraud protection, charge dispute, extended warranties, etc), so I almost exclusively use my credit card. I do pay it off completely each month.
Click to expand...

 
Originally posted by: coldmeat
To me, a credit card is basically the same thing as my debit. I don't use it unless I have the money in the bank to pay it off right away. I pretty much only use my credit card for online purchases and bills.
Click to expand...

Yep pretty much this too. The only exception was when I bought my computer. But I wasn't late on any payments.
 
I use my credit card like a debit card (pay it off at the end of the month in FULL). I also get cash back on my CC so I'm all for that 🙂 I do have a BofA checking/savings though and got the "keep the change" but I don't shop enough to make that worth as much as the cash back is for me in the long run.
 
Originally posted by: EGGO
Originally posted by: coldmeat
To me, a credit card is basically the same thing as my debit. I don't use it unless I have the money in the bank to pay it off right away. I pretty much only use my credit card for online purchases and bills.
Click to expand...

Yep pretty much this too. The only exception was when I bought my computer. But I wasn't late on any payments.
Click to expand...

Exactly, plus you have a lot more protection with a CC
 
I probably would if Amex didn't give me such great cash back. Pay it off every month and make money for buying the shit I would be buying anyway. Seems like the right decision to me.
 
Nope I use credit card and pay it off before the 25 day grace period.

Why would I want to risk a debit card number or card getting stolen?

If someone did that it's my own money.. I have to wait for the bank to get MY money back.. with my credit card it's the BANKS money and their problem to get it fixed.
 
Nope, I never use my debit card. I only use credit cards and pay them off every statement period.

Credit card benefits and cash backs FTW.
 
Congrats on knocking the debt down. Keeping one credit card for emergencies is a good idea.

Personally, I don't like the debit card only idea. If you've only got $20 cash in your wallet, you can't rationalize an extra $5 because it is close enough like you could with a debit card.
 
Originally posted by: Newbian
Originally posted by: RedSquirrel
I use debit card most of the time though the 1.5 service charge per transaction can add up, so usually if I'm going on a shopping spree I'll take out cash first then just use the card for the huge purchases.
Click to expand...

Get a decent debit card that doesn't have those charges. 🙁
Click to expand...

It's not the bank/debit card company that charges that, it's the machines at whatever stores you buy from. (Ex: the bank of the particular machine).
 
Originally posted by: RedSquirrel
Originally posted by: Newbian
Originally posted by: RedSquirrel
I use debit card most of the time though the 1.5 service charge per transaction can add up, so usually if I'm going on a shopping spree I'll take out cash first then just use the card for the huge purchases.
Click to expand...

Get a decent debit card that doesn't have those charges. 🙁
Click to expand...

It's not the bank/debit card company that charges that, it's the machines at whatever stores you buy from. (Ex: the bank of the particular machine).
Click to expand...

Well that can't be avoided. If I get money out of a generic, non-Wachovia ATM I get charged the machine's fee (usually $1.50 or something) plus an additional $2 from Wachovia. It blows.

To answer the question in the OP, I don't even have a credit card, so I use cash and my debit card exclusively.
 
My ATM/Check card is for deposit and withdraw only. I always use cash or CC to buy stuff, never debit card. NEVER!
 
I have two debit cards. One goes to the checking account where my paycheck is direct deposited. I rarely use it and leave it home most of the time. My bills come out of that account through billpay though. The other debit card is linked to my ING Direct checking account which I pay myself about $500 twice a month (every paycheck automagically withdrawn from my main checking acct.). This is what I use on a daily basis for gas, eating out, whatever. It also has a $500 overdraft limit which if I have to dip into only costs me a very reasonable 2% interest rate with NO FEES if I use it. I find this setup offers me the maximum amount of flexibility and safety without exorbitant fees if I happen to screw up.

I only use my credit card if I have a big purchase over $200. That way I can get some reward points and some additional protection.
 
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