visa electron + visa debit

Jez · 30 Jun 2008 at 15:19

Its just pointless hassle, not only is it not instant it often is a total nightmare, and is all legwork on your part, rather than the other way round with a credit card.

If you cant get a credit card then obviously there is no choice, but if you can then you would be silly not to use it. Clearing a credit card every month and showing a large throughput of funds is good for credit scoring too.

Rebelius · 30 Jun 2008 at 15:29

if you've got a credit card to "use in the meanwhile" when your debit card details have been stolen, why wouldn't you just use it all the time, considering it's pretty easy to get one where you get money back every time you use it.

Energize · 30 Jun 2008 at 15:30

Rebelius said:
if you've got a credit card to "use in the meanwhile" when your debit card details have been stolen, why wouldn't you just use it all the time, considering it's pretty easy to get one where you get money back every time you use it.

Hassle. Having to apply for a credit card with x% cashback from another bank, while spreading more personal details around. Then having to setup a direct debit to the account, then the possiblity of getting charged for not having the funds in the account for the dd or risk getting overdrawn. Plus if your credit card details get stolen, you have to use your debit card which is not accepted at all online stores.

Rebelius · 30 Jun 2008 at 15:32

the hassle of setting up a DD and remembering how much you've spent?

maybe we just prioritize things differently, but it didn't seem like much hassle for me.

dowie · 30 Jun 2008 at 15:37

Energize said:
the only extra protection you get with a credit card is default protection on orders over £100, the chance of that happening being less than nothing.

It isn't that insignificant; you'll often find that some of the cheapest mobile phones and cheapest computer parts etc.. can come from pretty small online retailers. It isn't exactly uncommon for these places to go under.

Debit cards and credit cards are pretty much interchangeable, neither is any better than the other really.

reward points, travel cover, air miles, interest free periods are all good reasons to use credit cards

then again you wouldn't use one to withdraw cash, change money or make a deposit at a gambling site.

They aren't necessarily interchangeable and there are optimum uses for either.

Abraham · 30 Jun 2008 at 15:37

as a credit card noob/virgin/whatever could I view my month to date statement on a credit card like I can view my bank account statement to date online?

Energize · 30 Jun 2008 at 15:37

Rebelius said:
the hassle of setting up a DD and remembering how much you've spent?

maybe we just prioritize things differently, but it didn't seem like much hassle for me.

It's more hassle if you don't want money sitting in your current account waiting to go through the dd while losing 12% interest that negates the cashback in the first place.

Rebelius · 30 Jun 2008 at 15:55

sorry, I dont understand what you're saying there. When I've paid for something in a shop, with a Debit card, the money's gone straight away. With a Credit Card, The money sits in my current account earning interest (at whatever HBOS give me these days) until the DD goes out, and I also get some money back (a percentage of what I spent).

Energize · 30 Jun 2008 at 15:57

Rebelius said:
sorry, I dont understand what you're saying there. When I've paid for something in a shop, with a Debit card, the money's gone straight away. With a Credit Card, The money sits in my current account earning interest (at whatever HBOS give me these days) until the DD goes out, and I also get some money back (a percentage of what I spent).

The money could be in a savings account earning interest at a rate of 12% gross and since you have to leave more money in the current account to avoid making more transfers later, you lose interest on even more than the amount of the transaction which negates the point of using a credit card for cashback.

Both types of card work well, but for me there's no point using a credit card for transactions when I can use a debit card. It's just easier for me and offers the same level of protection for all my uses.

Phog · 30 Jun 2008 at 16:05

I'm getting rid of my Electron because I can't use it at Cafe Rouge and to buy train tickets with.

Rebelius · 30 Jun 2008 at 16:11

but you cant put money you've spent or intend to spend on your debit card into a savings account.

It's got to be either in the current account or spent. Doesn't it?