? on the way check cards work

[Davegod75]

I don't know why I think this but let me know if i'm wrong or right.

If you use the debit option on your check card the money is withdrawn right away.

if you use the credit option the money is withdrawn after 30 days..Sorta like a credit card



Am i crazy? If so, I never carry a balance on my credit card so I really don't need one but I do like that fact that it allows me to delay my payments. Any other services that offer something like this.

 

[The Stigenator]

debit card = use pin #.. instant transfer

credit card - hold 3-7 days... but most likely shows up before that. I use credit option on my debit because of cashback - yay usbank. credit card = not credit card.. basically it does the transcation like a credit card, but unlike that of a credit card, you dont pay back to the bank, its deducted from the account when the transaction reaches the bank.

 

[crumpet19]

uhh... I really dont know.
But, I do know that my bank's check cards must be wrang in as a credit card... and it deducts within 1-2 business days.

 

[imported_Mike]

on my check card, if i choose debit or credit...i can check online to see that it is taken out that day. I've never heard of this 30 day business...

 

[95SS]

No, the $$ is basically gone immediately either way. My bank takes debit transactions out instantly, or if used as credit, will put an authorization on the funds, just like a credit card. Either way, the money's gone, or can't be used.

 

[Davegod75]

guess that clears that up!

Another question...does using a check card build up credit history if you use the credit option all the time.

 

[crumpet19]

Originally posted by: Davegod75
guess that clears that up!

Another question...does using a check card build up credit history if you use the credit option all the time.

mines doesnt

 

[The Stigenator]

Originally posted by: Davegod75
guess that clears that up!

Another question...does using a check card build up credit history if you use the credit option all the time.

no...however if you want to .. get a secured credit card (put 500 dollars down get 500 credit limit. that 500 is not collaateral for not makign a payment) or get a cell phone or something to open up your credit.

 

[Davegod75]

Originally posted by: The_good_guy

Originally posted by: Davegod75
guess that clears that up!

Another question...does using a check card build up credit history if you use the credit option all the time.

no...however if you want to .. get a secured credit card (put 500 dollars down get 500 credit limit. that 500 is not collaateral for not makign a payment) or get a cell phone or something to open up your credit.

I have plenty of credit history...i just don't want to stop using my credit card to end it although the car loan would take care of that

 

[The Stigenator]

if you dont use your credit cards, it does not end your credit history..

your credit history = history.. so if you dont use it, it actually is a good thing..