Debit Card fees spreading across the country!

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Oh no! banks are losing money and need to charge the peons monthly debit card fees now.

The list of banks with a monthly debit card fee or about to start them up:

Regions
Bank of America
Suntrust
Wells Fargo
Chase

More banks to come I bet. Hey JHRZ2, you were crying a river. now, your going to be crying an ocean.
lol.gif


Bank of America accounces $5 debit card monthly fee
 
You have to be nuts to use a debit card for anything. Nothing like giving someone direct access to your checking account.

Use a credit card and pay it off every month.
 
Originally Posted By: dishdude
You have to be nuts to use a debit card for anything. Nothing like giving someone direct access to your checking account.

Use a credit card and pay it off every month.


+1


Chase sent me a letter stating that they're going to start charging a few dollars every year in maintenance fees. Go right ahead! So long as they keep paying me hundreds of dollars in cash back, I couldn't care less!
 
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Originally Posted By: dishdude

Use a credit card and pay it off every month.


This is what I do. My card is a cash rewards card, so they pay me to use their credit card. I love it.
 
that's why I am switching to Schwab bank. No fees! I try to use cash as much as possible, but big purchases I use debit. Chase was getting ridiculous with fees, non atm fees, check fees, transfer fees, statements etc. Can't wait to be rid of them! I wanted to use a credit union, but a lot of convenience is lost(location, mobile deposit, fee reimbursement (Schwab refunds all atm fees!)

Paying down my credit card, so not interested in using it(hit very hard times recently).when its paid in full, I am going to jump into a card with cashback
 
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I use a speedway credit card and earn points to buy gas cards with every purchase...last 4 years Ive got 400.00 of free fuel,,,cant beat that
 
Originally Posted By: dishdude
You have to be nuts to use a debit card for anything. Nothing like giving someone direct access to your checking account.

Use a credit card and pay it off every month.


right, much better to give them access to your credit....
 
Hmm, Since I switched to Chase(about 3 years ago), I always used their debit card as credit for cash back. I think I will have a hole in my card soon,never use cash. Never had a single problem. They have same protection as credit card. If it's stolen and you didn't use it--you get your money back. One of my friends had incident like that.
Don't like using cash. My buddy lost cash at least 2 times that he noticed (over $200 each time) during parties couples years ago. Don't want to be in his band wagon. I had a year when I lost my wallet 2 time in a row in short period. So if I loose my card--I don't loose my money.
Credit cards-- I try to keep them home, had troubles with spending spree...
 
Careful, you have a limited time to report issues with debit cards(theft etc). Fine print states normally you might be accountable up to $50 otherwise $500 pending your report times.

Credit cards you are less liable and they are much more willing to help, and typically cover the full fraud charge. Debit not so much

I was a wamu customer (was great!), got transferred to chase after wamu was bought out. They treated me bad in the beginning(accounts being delayed with deposits, withdrawals, fees etc) got better, then stripped away free checking, then added fee, after fee!
 
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Originally Posted By: wsar10
Originally Posted By: dishdude
You have to be nuts to use a debit card for anything. Nothing like giving someone direct access to your checking account.

Use a credit card and pay it off every month.


right, much better to give them access to your credit....


Well - it does make sense. At some level.....
 
I can go back to cash....no prob. Chase is not doing that here...


Or consumers can cut back a bit....maybe even just buy what they can afford..


What a novel idea....
 
Originally Posted By: dishdude
You have to be nuts to use a debit card for anything. Nothing like giving someone direct access to your checking account.

Use a credit card and pay it off every month.



Then they'll still find a way.


Banks have computerized data last I checked....
 
Originally Posted By: wsar10
Originally Posted By: dishdude
You have to be nuts to use a debit card for anything. Nothing like giving someone direct access to your checking account.

Use a credit card and pay it off every month.


right, much better to give them access to your credit....


Do whatever you want with my CC info, I don't care. Unlike a debit card, I have zero liability from any charges I don't authorize, you can't do anything with the information on my credit card such as open accounts in my name, etc. If anyone makes any unauthorized charges to my account, they tie up the bank's money - not mine.

And even if someone tried to "steal my identity", they couldn't! My credit reports are locked from all three bureaus.
 
The current best credit card with cask back is HSBC without annual fees, I think. The 3 categories with 5% cash back are Gasoline, Drug Stores and Groceries and up to 1% cash back everything else. On average I got a little more than $300 cash back from them a year, the only problem is you need to make a toll free phone call to request cash back and it is in the form of credit against your balance.
 
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