moldyhotelsaregross

Have you considered programming the 800 numbers for your credit card companies in your cell phone? You don't have to name them things like Visa and Amex but instead Victoria and Ahmed... You get the idea.

It doesn't resolve the problem completely, but it does facilitate reporting the cards missing. Now... just don't misplace the cell at the same time!

cb

Both my 18 and 20 year old daughters know their social security numbers (I know them also, mainly because I filled out so many forms over the last few years, I just remember them both!). They needed their #'s for many things over the years, high school forms & then college forms), so they both just know them. Thought that would be the same with most people their age... shows you how much I know!!

Judy24

On the subject of debit card pros & cons--I too am one of those people who has resisted debit cards for a variety of reasons, some of which I'm now realizing may no longer be valid.

1. Fear that if stolen, I'd have my entire checking account wiped out. (It now seems that there is better protection against that, along the lines of losing a credit card, but that wasn't the case originally.)

2. No "reward" for using a debit card, such as miles, points or cashback. But according to Icuy, this may no longer be the case. I'd be interested to know more about this program.

3. Having to make sure there's enough in my checking account to cover my purchases. And no, I don't live hand to mouth so to speak, but I like the flexibility of waiting till I get a bill and then deciding which account I want to pay it out of, if I want to move money from a higher interest account to my checking account, or if I want to time it to coincide with a paycheck or other deposit I know is coming. I also get a "float" of up to 30 days between the time I make a purchase and the time I owe the payment. And I always pay the full amount due each month.

The only advantages I can see are what nytraveler mentions, since my dry cleaner does not take credit cards, and the cheaper cash withdrawal fees, although I usually get cash from my local ATM so that's not an issue.

But I do enjoy hearing other's reasoning since that's how I learn!

CAPH52

My 20 year old daughter knows hers too, cb. 16 year old son doesn't as he hasn't had as much reason to use it yet.
I too was kind of surprised that it was an issue.

lcuy

I made a mistake in my earlier reply. It should have said cash back (as in $50 change)when using the card for purchases without having to pay cash advance fees or ATM fees.

However, my daughter with the account at US bank in Oregon also gets a rebate based on useage. I'm not sure how it works, but I do know she likes it.

CAPH52

I'm getting the impression from reading this thread that many of you pay no fee to use your debit card. Is that the case? As I mentioned, when we use ours (a Visa Check Card) as a debit card rather than as a credit card, we're assessed a thirty cent fee. A few years ago, our bank charged seventy-five cents. Apparently a lot of customers complained and they dropped the fee altogether. Then, about a year ago, they imposed the thirty cent fee. As I said in my other post, it's a lot cheaper than using an ATM when we're traveling. But, obviously, no fee at all is even better! If many of you are not charged, maybe we need to consider changing banks!

gail

Regarding social security numbers as ID - only one school to which are son applied 2 years ago requested SS number. His current college does not use it for anything - they have student ID. My daughter is in HS and I have never had anyone request her SS number on any form in the past few years - from schools, to MD, etc. CAPH52 may be surprised with newer privacy/identity theft awareness how few times (other than for employment)her 16 year old son will need to use his.

I pay no fee for transactions with my debit card (Bank of America) - but I think that may be related to how much we keep in our savings account with them plus our mortgage, credit card being with them.

CAPH52

Actually, gail, my son did have to take his ss card with him to apply for his driving permit. And he had to have his number with him when he registered for school this year. Not sure why as they have always (at least since my daughter started there in 2000) used student ID numbers rather than ss. But, obviously, those two times have not been enough for him to have memorized the number.

Our daughter has had to use hers often in the past year or so in applying for jobs, student financial aid, getting her drivers license, filling out her federal and state taxes, etc., etc.

Cali

We used to use a debit card but no more. We had our number stolen while in Mexico (and we still had the card) and we finally realized what had happened (about two days later) when our bank account had been drained and our card was not accepted. We did not realized that debit cards are not protected by the same laws as Visa cards, etc. and we were not reimbursed by the bank. We fought it but they said they had no way to know we didn't use all the money. This was not a small amount of money and we were not happy. We have checked with a number of banks since and they all say it is up to the bank to decide on the circumstances. This is not acceptable and we no longer will use a debit card for anything. Instead, we just pay our visa in full every month.

Patrick

Cali, you checked with the wrong bank. Bank of American insists (and it is spelled out on their website) that you are 100% covered from fraud on your ATM/debit card with them, even if it is a couple days before you realize it and report a problem.

Cali

This happened last Sept. and it was with Bank of America and we were not covered. Get it in writing!!

gail

Cali - it is in writing on their website - I just checked since I was also under the impression that my credit card and "check card" - which is what they call their debit card - were equally protected.

Obviously I do not know anything about your individual and specific circumstances - so I am in no way commenting on that.

Cali

I really wonder if this has changed since this happened to us a year ago as we were not covered. We have banked with them for years both with our personal and biz accounts and they knew us well but they didn't stand behind their card or help us in any way. Possibly laws have changed since then I don't know but I do know I will never use a debit card again!!!

Gretchen

How did they use your card number without the physical card?

JJ5

Interesting thread.

Surprised me somewhat that people get charged for some of these transactions. I don't for either credit or debit cards I've had. I do not use debit cards for purchases, just a nation wide bank one for cash back at ATM's- and I have had NO fees except for one time at quite a distance from my home state.
I feel exactly like Patrick on this one.
And I don't write checks more than a couple times a year either, and not even for taxes (online)- as I have automatic transfers done and the bill sent to me after the fact. If there is a problem, I KNOW it and it gets fixed.

But all these methods surmise and demand that you have sufficient money in the bank at all times and live under your level of banking umbrella. I am so frugal that it works for me plus I earn money on points and interest both. I have never paid interest on a credit card in my life, even when I've been in the poverty level of income. It is possible- you spend less than you HAVE.

Actually not one person has mentioned that some credit cards are quite costly for the vendor from whom YOU purchase. And also that cash back and double points etc. programs ADD funds to your own spendability amounts. I've never paid for a video at Blockbuster for instance, and always get back about $120 at Christmas time on the cash back Discover.

Discover is giving a lot of vendors problems as that card costs them more money on a close profit margin. Visa and Master Card are less $$$ for the vendor, but still hava a small fee. It isn't "fair" to charge $10.00 purchases on some credit cards as the vendor makes no profit at all. I'm very aware of which cards will cause this to happen and have had vendors reduce the cost of a larger purchase just because it went on "another" card or I paid them cash instead. This just happened at a winery in Michigan and he gave me 10% more off a case when I mentioned the better method for him.

And because of privacy laws, the schools have totally updated their record keeping in the last year. My college has NO appearance of S.S# on anything anymore. So the freshman this year who are 17 or 18 are the first class that has come in NOT knowing their S.S.#'s.

As more schools and Fed. services change S.S.# usage- this is going to be a problem with more and more new adults.

joan

JJ5 wrote:
"Discover is giving a lot of vendors problems as that card costs them more money on a close profit margin. Visa and Master Card are less $$$ for the vendor, but still hava a small fee."

Actually, the opposite is true for me (I'm a merchant). Visa & MC have higher fees than Discover, they always have. In fact, this year Visa/MC made the lovely announcement that Cash Back Cards will be charged to me at a higher rate than regular credit cards (corporate cards already are at a higher rate - and I have no choice but to accept all cards). So, that "cash back" is actually coming from the merchant. Sleazy, aren't they?

JJ5

joan, that may be coming by me in the Midwest as well- but right now it is the Discover that is causing our near vendors enough problems and expense that they are dropping the card altogether.

I've had two restaurants and a small sports' vendor (fishing equipment) that have refused the Discover in the last month.

Yes they take all kinds of hits on the vendors- and the card owners don't realize this for the most part at all.
And yes, I want to know, because it is sleazy.

And some by me do not take American Express for the same reasons.

FainaAgain

Gail, mine are 29 and 23, and let me tell you: your son is a typical careless 19-year-old If not on vacation, would he even bother to notify anybody?

LoveItaly

Hi gail, my 19 year old grandson managed one week to lose his wallet. The next week he lost his keys including his car keys, house keys and workplace keys. The next week he lost his his second wallet. I thought his mother was going to have a nervous breakdown! Guess it is the age as Faina indicated. They can be so intelligent and yet so uhm stupid, LOL. Best wishes to you. And hang in there!

JJ5

We had a 18 year old here forget where he parked his car (about 15 different lots on campus) NOT find it since the first day of school, or even try (he admits this) and then report it to the Security people as stolen. When they found it parked where he left it, he insisted THEY pardon the parking fines (wrong lot, STAFF/Faculty and no tags or sticker either)because he just had "TOO MUCH TO DO" to think about it.

And he goes to class about 20 hours a week on the outside.

ummmmmmmm! True and not the worst by any means.