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Author Topic: I have been talking about this issue for years..the debit card trap.  (Read 549 times)

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Offline Freeper

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I have been talking about this issue for years..the debit card trap.
« on: August 20, 2009, 10:01:05 AM »
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Roon  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Thu Aug-20-09 10:44 AM
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I have been talking about this issue for years..the debit card trap.
   
I am very low income so I use a debit card to pay my bills online and to shop with,it's just much easier.

But the crooks at the bank will approve your transaction if you are short even by a few pennies and ding you for an overdraft fee. A lot of banks charge around $35.00.

I got burned by this a couple of times when I first got my debit card,but since then I have learned to log on and check my balance before I go out and about. I also had to learn that some companies take forever to batch their transactions so I have to keep that in mind.

It should be against the law!
http://www.nytimes.com/2009/08/20/opinion/20thu1.html?_...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x6352716

If you are so stupid you cant check what your balance is before you purchase something maybe you need to get one of those prepaid debit cards.  :mental:
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Offline Karin

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Re: I have been talking about this issue for years..the debit card trap.
« Reply #1 on: August 20, 2009, 10:10:40 AM »
This isn't the first time we've heard them bitch about bank fees.  If you're low income, $35 is a lot of money.  You would think that if you got burned once, it would hurt so bad that you would become obsessive about your checking account being exactly right to the penney.   

What's this thing for up in our emoticon list?   :heart:   Looks like Valentine's day. 
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Offline Carl

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Re: I have been talking about this issue for years..the debit card trap.
« Reply #2 on: August 20, 2009, 10:12:58 AM »
Once again a DUmmy can`t meet a fairly simple requirement of living in modern society so they think they should be exempted.

DUmbfuk lurkers....know what is in your bank account if you have any fear of overdrafting.
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Offline Chris

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Re: I have been talking about this issue for years..the debit card trap.
« Reply #3 on: August 20, 2009, 10:13:41 AM »
Quote from: Karin on August 20, 2009, 10:10:40 AM
What's this thing for up in our emoticon list?   :heart:   Looks like Valentine's day. 
I swear I didn't do it.

Someone must have a sense of humor. :-)
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Offline Chump

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Re: I have been talking about this issue for years..the debit card trap.
« Reply #4 on: August 20, 2009, 10:20:50 AM »
I'm not so sure I'd rant in a semi-public forum about my inability to perform very, very basic math.  If you balance your checkbook register, to the penny, every time you take in or send out funds, this is a complete non-issue.

Screw the greedy banks by knowing how to add and subtract, not ranting online.
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Offline Ralph Wiggum

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Re: I have been talking about this issue for years..the debit card trap.
« Reply #5 on: August 20, 2009, 11:25:42 AM »
When I was in high school, I took a VERY easy class called something like introduction to Business.  They actually taught you how to balance a checkbook.  I'm not big on mandating certain classes, but this type would be high on my list.
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Offline GOBUCKS

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Re: I have been talking about this issue for years..the debit card trap.
« Reply #6 on: August 20, 2009, 11:36:37 AM »
Quote from: Ralph Wiggum on August 20, 2009, 11:25:42 AM
When I was in high school, I took a VERY easy class called something like introduction to Business.  They actually taught you how to balance a checkbook.  I'm not big on mandating certain classes, but this type would be high on my list.
Absolutely agree 100%. Kids graduate having no idea how to live as adults. They should learn how to maintain a checkbook ledger, how to complete a Form 1040 and how withholding works, how to register a car and renew, how property taxes are collected, how to vote Republican, and other skills necessary to
be a minimally competent adult.
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Offline Ralph Wiggum

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Re: I have been talking about this issue for years..the debit card trap.
« Reply #7 on: August 20, 2009, 11:41:57 AM »
Quote from: GOBUCKS on August 20, 2009, 11:36:37 AM
Absolutely agree 100%. Kids graduate having no idea how to live as adults. They should learn how to maintain a checkbook ledger, how to complete a Form 1040 and how withholding works, how to register a car and renew, how property taxes are collected, how to vote Republican, and other skills necessary to
be a minimally competent adult.

How to use credit would be another area.

I'm not anti-business by any means, in fact I'm quite the opposite.  I've long thought that CC companies shouldn't be just handing out cards like candy on college campuses.  I got into a little trouble with that, which was completely my own fault.  I just think that giving out free credit to so many with no income is rife with problems.
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Offline debk

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Re: I have been talking about this issue for years..the debit card trap.
« Reply #8 on: August 20, 2009, 12:14:06 PM »
I pay almost everything that I can with my debit card...it's easy and I get a printout each month in my bank statement that makes my tax gathering quite easy.

It tells me exactly what my balance is....after it subtracts all pending payments....I don't have to do it.

I don't get overdrawn.

It's not rocket science....
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Offline Karin

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Re: I have been talking about this issue for years..the debit card trap.
« Reply #9 on: August 20, 2009, 12:17:26 PM »
Ralph, boy isn't that the truth?  College students are notoriously dirt-poor.  I think my annual income was $5K when I was one.  Handing out credit cards to these people, who are often moonbats, is just dangerous.  And cruel to them, actually, since their lack of a sense of responsibility is infamous and will just get them into deep trouble. 
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