Which is better?

[ZipSpan]

Should I get a credit card or a debit card? Which is better?

[atxrocker]

don't you have to be 18 to get a credit card?

[ZipSpan]

don't you have to be 18 to get a credit card?

You do? Damn. Do you have to be 18 yr. old to get a debit card?

[Opinionater]

IMHO, I think you should get a Visa or MasterCard Debit Card. That way it is accepted almost everywhere but it is NOT a credit card. Stay away from credit if all possible.

[dallaskd]

You have to have a bank account first.

[ZipSpan]

I have a savings account that my mom opened, but it's under my name. Do I have to have her permission, since I'm not 18 yet, to get a credit card or debit card for that account?

[sa_butta]

Credit cards suck, just get a Debit that way you only buy what you can pay for at the time of purchase. Too much temptation with a credit card.

[King]

Debit's are obviously better, because you don't rack up debt. It's basically a check.

[fatsack]

better idea: use someone else's credit card.

[NorCal510]

dont worry zipspan u dont need one cuz ill take u out

[Johnny_Blaze_47]

dont worry zipspan u dont need one cuz ill take u out

Finally got that two-seater bike?

[mrsmaalox]

It's true a credit card can be more trouble if you can't resist temptation. But the main difference is that with a credit card, every purchase has to go thru that "approval" and in case of fraud it can only be run up to the preset limit. And you can contest any charges before they are actually paid. A debit card is basically a check; anyone who can get your pin can easily drain your account and rack up lots of "overdraw" charges. There is no recourse, once the money is gone, it's gone. Banks are also now doing those prepaid cards where you have to deposit money in an acct; it's helpful for keeping on a budget, and it can help you to establish credit with that bank.

[1Parker1]

:lol It depends on how much money you have in your account.

[tlongII]

It's true a credit card can be more trouble if you can't resist temptation. But the main difference is that with a credit card, every purchase has to go thru that "approval" and in case of fraud it can only be run up to the preset limit. And you can contest any charges before they are actually paid. A debit card is basically a check; anyone who can get your pin can easily drain your account and rack up lots of "overdraw" charges. There is no recourse, once the money is gone, it's gone. Banks are also now doing those prepaid cards where you have to deposit money in an acct; it's helpful for keeping on a budget, and it can help you to establish credit with that bank.

This is not entirely true. If you notify the bank of fraudulent charges on your debit card within a couple of weeks they will reimburse your money. It's happened to me so I know.

[ZipSpan]

I think I'm going to go to the bank tomarrow and try to get a debit card. I asked this earlier, but nobody answered... my mom opened the account, because i'm under 18, but the account is under my name. Can I still going to the bank and get a debit card without my mom's permission?

Norcal: thanks, but I have a boyfriend. haha. don't you have a crush? just ask her out!

[Kori Ellis]

I think I'm going to go to the bank tomarrow and try to get a debit card. I asked this earlier, but nobody answered... my mom opened the account, because i'm under 18, but the account is under my name. Can I still going to the bank and get a debit card without my mom's permission?

Norcal: thanks, but I have a boyfriend. haha. don't you have a crush? just ask her out!

Is your mom's name on the account too? I'm guessing it is. I had a savings account when I was 6 (with my grandma's name too) but I couldn't go get a debit card on my own. :lol I'm guessing you can't get one without your mom's permission either.

Why do you want it anyway? You aren't supposed to be spending your savings. :)

[loveThe23]

I think I'm going to go to the bank tomarrow and try to get a debit card. I asked this earlier, but nobody answered... my mom opened the account, because i'm under 18, but the account is under my name. Can I still going to the bank and get a debit card without my mom's permission?

Norcal: thanks, but I have a boyfriend. haha. don't you have a crush? just ask her out!

you and the boy from science are already going out? congrats! :) how'd the date go this weekend?

[mrsmaalox]

This is not entirely true. If you notify the bank of fraudulent charges on your debit card within a couple of weeks they will reimburse your money. It's happened to me so I know.
That's what I said

[ZipSpan]

Is your mom's name on the account too? I'm guessing it is. I had a savings account when I was 6 (with my grandma's name too) but I couldn't go get a debit card on my own. :lol I'm guessing you can't get one without your mom's permission either.

Why do you want it anyway? You aren't supposed to be spending your savings. :)


Damn! Yeah, but now that I'm living at my friend's house, I have to buy my own clothes, school stuff, and just random things and it would be a whole lot easier having a card than having to go to the bank every time I need money.

[tlongII]

That's what I said


You said you can contest any charges "before they are paid." That is not true. You can also contest them after they are paid.

[mrsmaalox]

Okay, but not every bank will reimburse you before they've recovered their money first; that's why I was reluctant to say they would reimburse you right away. But you can contest a charge with any bank you have. I guess you just need to find out all those particulars before you pick a bank.

[tlongII]

Okay, but not every bank will reimburse you before they've recovered their money first; that's why I was reluctant to say they would reimburse you right away. But you can contest a charge with any bank you have. I guess you just need to find out all those particulars before you pick a bank.

In my case I recognized the charges were fraudulent after the money was removed from my account. I tried to use my debit card and it said I didn't have any money. At that point I printed a transaction history and recognized the fraudulent charges. I wouldn't have been able to find out beforehand.

[ZipSpan]

you and the boy from science are already going out? congrats! :) how'd the date go this weekend?

Thanks! It was wonderful!!! We walked around a park, went to the movies, then went out to ate. It was perfect.

[Johnny_Blaze_47]

went to the movies,

Weird Science?

[mrsmaalox]

In my case I recognized the charges were fraudulent after the money was removed from my account. I tried to use my debit card and it said I didn't have any money. At that point I printed a transaction history and recognized the fraudulent charges. I wouldn't have been able to find out beforehand.
I was pretty amazed with my bank (USAA); in my case they notified me that someone was using my card number to make internet purchases that "didn't fit my pattern"; it was with a shoe store. I had no idea it happened, but I was surprised they could tell I didn't buy the stuff myself.

[ZipSpan]

Weird Science?


:lol nope, we saw 300.

[SequSpur]

You have to have a checking account to get a debit card. So if you want a debit card you have to open a checking account.

If you are not 18, you have to have the "adult" on the account approve the issuance of the card to you.

Because the debit card accesses a checking account, dispute resolution falls under "Regulation E" where as a credit card dispute would fall under "Regulation Z". Under Reg E, your bank/credit union pretty much has to give you back your money within 10 business days if you are disputing an item, obviously if you lose your dispute for whatever reason they can take the credit back out provided they supply you with documentation proving the validity of the charge upon your request. All of this should occur within 90 days of your initial notification of a dispute.

Also, there is no way to "stop" a charge on a debit or credit card once the merchant receives an authorization number. You have to wait for the transaction to post and then dispute it. Just realize that disputing the charge because you "got in trouble for ordering that magazine" or something like that is not really a dispute and you probably won't get much cooperation from you bank. But if you have a legit dispute, your bank will take care of you.

[ZipSpan]

You have to have a checking account to get a debit card. So if you want a debit card you have to open a checking account.

If you are not 18, you have to have the "adult" on the account approve the issuance of the card to you.

Because the debit card accesses a checking account, dispute resolution falls under "Regulation E" where as a credit card dispute would fall under "Regulation Z". Under Reg E, your bank/credit union pretty much has to give you back your money within 10 business days if you are disputing an item, obviously if you lose your dispute for whatever reason they can take the credit back out provided they supply you with documentation proving the validity of the charge upon your request. All of this should occur within 90 days of your initial notification of a dispute.

Also, there is no way to "stop" a charge on a debit or credit card once the merchant receives an authorization number. You have to wait for the transaction to post and then dispute it. Just realize that disputing the charge because you "got in trouble for ordering that magazine" or something like that is not really a dispute and you probably won't get much cooperation from you bank. But if you have a legit dispute, your bank will take care of you.




:depressed Maaaan... that means I have to wait 2 more years until I can get one. :cry

[NorCal510]

Thanks! It was wonderful!!! We walked around a park, went to the movies, then went out to ate. It was perfect.
dump him. i can do better than that.

[ZipSpan]

dump him. i can do better than that.

then why don't you have a girlfriend?

[Kori Ellis]

I was pretty amazed with my bank (USAA); in my case they notified me that someone was using my card number to make internet purchases that "didn't fit my pattern"; it was with a shoe store. I had no idea it happened, but I was surprised they could tell I didn't buy the stuff myself.

Maybe USAA knows your shoe size :)

[jman3000]

debit card all the way... but maybe try to get a 0% introductory rate credit card for emergency's ... once the rate is over... cut it up and get another.

[jman3000]

maybe you're too young to get that kinda deal though.

[THE SIXTH MAN]

don't you have to be 18 to get a credit card?
Yes, but you don't have to be 18 to have one. For example if your mom has a credit card she can issue you your own card. But she's the only one that would be authorized to make decisions on it.

As for the question. In my opinion since you're young, with your mothers permission get a debit card. A credit card can easily get a young person in to debt very quickly.

[mrsmaalox]

You have to have a checking account to get a debit card. So if you want a debit card you have to open a checking account.

If you are not 18, you have to have the "adult" on the account approve the issuance of the card to you.

Because the debit card accesses a checking account, dispute resolution falls under "Regulation E" where as a credit card dispute would fall under "Regulation Z". Under Reg E, your bank/credit union pretty much has to give you back your money within 10 business days if you are disputing an item, obviously if you lose your dispute for whatever reason they can take the credit back out provided they supply you with documentation proving the validity of the charge upon your request. All of this should occur within 90 days of your initial notification of a dispute.

Also, there is no way to "stop" a charge on a debit or credit card once the merchant receives an authorization number. You have to wait for the transaction to post and then dispute it. Just realize that disputing the charge because you "got in trouble for ordering that magazine" or something like that is not really a dispute and you probably won't get much cooperation from you bank. But if you have a legit dispute, your bank will take care of you.
Great info,thanks :toast

[SequSpur]

obviously, that was pseudofan.. i don't know shit about cards. :)

[ShoogarBear]

obviously, that was pseudofan.. i don't know shit about cards. :):lmao I was about to be impressed.

Well, I guess we know who lays down the financial law for your kids.