I think so—they are, in my humble opinion-trying to strong arm the public and the politicians with larger and more ridiculous fees!! And the politicians are allowing it!! They are also coming up with insane excuses to stop your credit cards—not that that is such a bad thing. Actually, after what happened last night—I am voluntarily NOT going to use credit cards any longer. I will pay off what I owe eventually—but from this day forward—it is debit cards or prepaid cards for me!! An early New Year’s resolution-one I intend to keep.
Last night I attempted to purchase a gift for a “secret sister” using one of my credit cards—(I will leave the name of the bank anonymous)—it just would not accept the card—finally in desperation (since I was unaware of any problems) I called the number on the back of the card. After explaining the situation—(after finally hitting enough numbers to get to an actual human being) I was told that a new card would be issued to me but I would have to speak to the credit department to have it sent out quickly—1st outright lie!! Well—after having to give financial info-I was informed that because I had supposedly reported a card for fraud in 2007-they could not issue another card-I would have to get that off all 3 credit bureaus—in my opinion-lie number 2—I am NOT going to bother!! They have just lost a customer. And a very good one!!
After I fumed for about 20 minutes—wrote to the person I am going to buy from that I would have to wait till I was paid—I immediately googled prepaid credit cards—to say the info is somewhat confusing is an understatement (and I am a bookkeeper)—I went to a private facebook group and asked this question “Do any of you use pre paid cards and which one?”
This is a group with a great group of women and I received answers immediately!!
I sent in my application for the PayPal Debit card and will go out after I get paid and get a Greendot pre paid card—those along with MY banks debit card I should be okay. From now on it is CASH all the way—if I could figure out an easy way to get out of the banking system altogether I would---but at least I am done with credit cards (except paying them off)—and from what I am hearing-more and more people are doing this—
What is your opinion? I’d love to hear it!!
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13 comments :
I also no longer have credit cards. I only use my debit cards. I have faith that it will help me to live with in my means!
We're switching over to a credit union, but it's tough since so many of my bills are direct pay.
Ugh, that sounds terrible! I've been avoiding banks ever since I accidentally overdrafted one day way back when. I had used the card to purchase a few small things, not knowing that the money that was supposed to be in there hadn't "cleared" yet. Each swipe I made that day, be it for $1 or $50, cost me a $40 fee. NO THANKS. I've been using the PayPal card and a WalMart prepaid card ever since.
Sorry to hear that you had some problems and on Black Friday :(
I totally agree that "Cash is King" and less/no credit cards will definitely help you live within your budget.
My bank charges $3.95 a month and I don't find that too high but I'm in Canada.
Besos, Sarah
Zookeeper at Journeys of The Zoo
journeysofthezoo at hotmail dot com
My husband and I lived credit card free for close to five years before a MAJOR emergency led us to open a new account. Unfortunately our savings account just wasn't big enough to handle what we needed. Those five years taught us a LOT about what is important and what is not. Now we're working on paying off the card again, but our lessons of "if we don't have the money, we can't afford it" still have a huge impact. Good luck on your new quest to use only a debit card. I think it's a great idea!
oh boy! sounds like frustration is there. I don't blame you. banks these days are getting ridiculous. Ugh! we had bad experienced to chase too
wow! That's annoying! The banks feel like they have the strong arm and unfortunately they do :(
I agree with the Credit Union. We have had zero issues after 5 years of nothing BUT issues and fees since switching to a credit union. Also, I haven't owned or used a credit card in over 8 years and I wouldn't change that. It makes me really consider before purchasing because I have to save to get it if it is a big ticket item. We are going to outright buy a car this spring because I have been saving rather than buying on credit
That sounds so aggravaating!
As long as you don't misuse CC they are great to have. I use them, but do not abuse them!!
I've never had an issue with a credit or debit card company but man, that really stinks that they tried to make you jump through hoops like that!
I never had an issue with a bank but I feel your pain. This is unacceptable! You should not have to go through all obstacles- you deserve better! I am sorry!
I use my credit card for everything, but I've been hearing bad things all around about them lately! :(
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