Using your debit card but pressing the 'Credit' button?

[JEDI]

I received an offer from Citibank.

if i use my debit Mastercard 3 times for at least $30 each time, they'll give me $15.

But i need to press 'credit' instead of debit.

What's the difference?

What does it matter if it's debit or credit? it comes directly out of my checking acct, right?

 

[Terabyte]

YEs, the money will still come directly out of your checking account. I believe the only difference is that the charge takes several days to show up instead of being instant.

 

[ElFenix]

to you? i don't think there is a difference. i use mine as credit most of the time. other than having to sign rather than using a pin, that is.

 

[mwtgg]

You don't use your PIN. You actually have the sign for the transaction.

 

[smack Down]

The difference is you won't be typing your pin number in at random terminals and giving to it who knows, you will be protected if scammed by the merchant and you can be assured you will not get charged a fee by your bank or the merchant.

There is no reason other then cash back to ever use the debit button.

 

[sciencewhiz]

citibank gets more of a fee from a $30 credit purchase then a $30 debit purchase. That's why they care.

 

[unfalliblekrutch]

debit allows your bank to process the transaction.
credit makes mastercard process the transaction.

debit allows for cash back, requires pin.

credit does not do cash back, requires signature.

credit has fraud protection from mastercard (or visa if your card is visa)

debit has no protection.

 

[mundane]

Originally posted by: sciencewhiz
citibank gets more of a fee from a $30 credit purchase then a $30 debit purchase. That's why they care.

That was my understanding.

 

[blurredvision]

My debit card is backed by Visa, and I ALWAYS run it as credit. Why? Two reasons, the first of which is because my bank charges a quarter each time I run it as debit (not sure why, but it doesn't affect me since everybody takes Visa nowadays). The second reason is because I get cash-back rewards. It's not much, but my wife and I have garnered about $120 over the past two years. That with using my card for EVERY purchase I make, as I rarely carry cash.

 

[jr22jess]

Mastercard makes about 2% on every purchase made. They charge whatever store you're purchasing from. That's is why some places say you must spend a certain amount to use your credit card to make it worth it for them.

 

[Whisper]

Originally posted by: jr22jess
Mastercard makes about 2% on every purchase made. They charge whatever store you're purchasing from. That's is why some places say you must spend a certain amount to use your credit card to make it worth it for them.

Which, coincidentally, is against most credit card companies' policies.

 

[TruePaige]

Originally posted by: jr22jess
Mastercard makes about 2% on every purchase made. They charge whatever store you're purchasing from. That's is why some places say you must spend a certain amount to use your credit card to make it worth it for them.

A lot of little stores do it around here.

I was talking to VISA yesterday, that's against their policy.

Those stores could have their terminals revoked.

 

[AkumaX]

some people dont like waiting 3 days to see the charge on the account, iono

 

[Oceandevi]

Originally posted by: sciencewhiz
citibank gets more of a fee from a $30 credit purchase then a $30 debit purchase. That's why they care.

winnar

 

[Regs]

Originally posted by: Oceandevi

Originally posted by: sciencewhiz
citibank gets more of a fee from a $30 credit purchase then a $30 debit purchase. That's why they care.

winnar

True Story with most banks if not all.

 

[TruePaige]

Originally posted by: AkumaX
some people dont like waiting 3 days to see the charge on the account, iono

Bank of America instantly shows it as a pending charge.

 

[compuwiz1]

I always, whenever possible run my debit card transactions aa credit, so no pin. I earn cash back rewards on my Visa debit card. Also, many places charge an ATM fee for using debit, but not for a credit transaction.

 

[ch33zw1z]

Originally posted by: smack Down
The difference is you won't be typing your pin number in at random terminals and giving to it who knows, you will be protected if scammed by the merchant and you can be assured you will not get charged a fee by your bank or the merchant.

There is no reason other then cash back to ever use the debit button.

Of course, your card number is still be transferred over the wire and stored, even temporarily in some cases, in a database somewhere. If someone gets that number, and only uses it as credit then all they have to do is sign. It's a chance either way.

 

[ch33zw1z]

Originally posted by: jr22jess
Mastercard makes about 2% on every purchase made. They charge whatever store you're purchasing from. That's is why some places say you must spend a certain amount to use your credit card to make it worth it for them.

Actually, Minimum transaction amounts are specifically prohibited in Mastercard and Visa's terms of service for the business.

If you EVER encounter a business that does this, you can call them on it. You can file a claim with Mastercard or Visa by going through with the transaction and sending a copy of your receipt to them, here's the addresses:

Visa USA
Consumer Relations
P.O. Box 8999
San Francisco, CA 94128

MasterCard International
Public Relations
2000 Purchase Street
Purchase, NY 10577

SEE LINK FOR DETAILS

 

[spidey07]

Originally posted by: ch33zw1z

Originally posted by: smack Down
The difference is you won't be typing your pin number in at random terminals and giving to it who knows, you will be protected if scammed by the merchant and you can be assured you will not get charged a fee by your bank or the merchant.

There is no reason other then cash back to ever use the debit button.

Of course, your card number is still be transferred over the wire and stored, even temporarily in some cases, in a database somewhere. If someone gets that number, and only uses it as credit then all they have to do is sign. It's a chance either way.

You are not responsible for fradulent charges. It's one of the main reasons to never use your debit card as a debit card other than to get cash.

 

[ch33zw1z]

Originally posted by: spidey07

Originally posted by: ch33zw1z

Originally posted by: smack Down
The difference is you won't be typing your pin number in at random terminals and giving to it who knows, you will be protected if scammed by the merchant and you can be assured you will not get charged a fee by your bank or the merchant.

There is no reason other then cash back to ever use the debit button.

Of course, your card number is still be transferred over the wire and stored, even temporarily in some cases, in a database somewhere. If someone gets that number, and only uses it as credit then all they have to do is sign. It's a chance either way.

You are not responsible for fradulent charges. It's one of the main reasons to never use your debit card as a debit card other than to get cash.

that was not my point..

 

[imported_Lothar]

Originally posted by: mwtgg
You don't use your PIN. You actually have the sign for the transaction.

At some stores, you don't even have to sign anything as long as what you're buying is less than $50.

 

[RossMAN]

I NEVER use my debit card unless:

1) I'm at the grocery store and need some cash, it comes in handy.
2) ATM

Otherwise credit card FTW

 

[Gibson486]

debit charges a fee (both user and bank get charged)....

it's amazing how many people do not even realize this.....

 

[spidey07]

Originally posted by: ch33zw1z

Originally posted by: spidey07

Originally posted by: ch33zw1z

Originally posted by: smack Down
The difference is you won't be typing your pin number in at random terminals and giving to it who knows, you will be protected if scammed by the merchant and you can be assured you will not get charged a fee by your bank or the merchant.

There is no reason other then cash back to ever use the debit button.

Of course, your card number is still be transferred over the wire and stored, even temporarily in some cases, in a database somewhere. If someone gets that number, and only uses it as credit then all they have to do is sign. It's a chance either way.

You are not responsible for fradulent charges. It's one of the main reasons to never use your debit card as a debit card other than to get cash.

that was not my point..

So why would one ever use their debit card other than cash? That's what I don't get.

For purchases of any kind just use it as a credit card and have the fraud protection. Sure credit card companies are the devil, but the fraud protection is really very nice. I don't care who has my numbers, as long as they don't have my pin.

That whole two factor authentication thing again.