Payment question
Aug 30, 2005 at 1:46 AM Thread Starter Post #1 of 8

K2Grey

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I just started college, so I'm in a much better position to spend money on frivolous music equipment than before (which accounts for my savings, I haven't been _able_ to spend much money in the first place).

So, what are my options for buying things over the Internet? In the near future, I'll have a credit co-card (can't be used), and a debit card (comes with checking account, along with checks). My main question is, is it safe to use the debit card for online purposes? From what I know, the credit card has alot more safeties in regards to bad transactions, stealing, etc. whereas if something bad happens with the debit card there will be serious problems, which furthurmore will be seriously hard to fix. So, is a debit card ok for online purchases, or would it be better to apply for a credit card and familiarize myself with the intricacies of using one safely and exactly how to pay off things brought with it?
 
Aug 30, 2005 at 1:50 AM Post #2 of 8

braillediver

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The only sure answer is to ask the bank that issued the Debit Card. Probably best to get any information in writing so you can substantiate any claims if a problem occurs.


Mitch
 
Aug 30, 2005 at 2:10 AM Post #3 of 8

DanT

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Now that your in college if you have the opportunity to have your credit card use it. You can create a very nice credit history. And you will need this credit history later in life when your going ask for a loan for anything. Banks don't like people that never use credit. They have no way to know if they are reliable and will put outragious interest rate.

But be very carefull about spending. It can be very addictive to live over our mean and credit can accumulate fast and are not that easy to get rid off. If you wreck your credit history then it's going take a long long time before it can be reetablish. And credit card online are very practical. Maybe a bit too practical which may insite you overspend. Just use as if it was a debit card and don't over spend.
 
Aug 30, 2005 at 2:39 AM Post #4 of 8

jerb

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I use a bedit card and have two bank accounts. One is where I put all my ash/paychecks/ect into and the other one has $ 0.01 in it. my debit is attatched to the account with no money in it. when I want to buy something I just do a quick online money transfer to that account for the exact purchase amount.

Even if some one stole my debit, all the could steal would be the 0.01 in my account ( I think)
 
Aug 30, 2005 at 3:09 AM Post #5 of 8

sumone

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I have a question...

One of my friends said he would get a credit card & only buy small things...not small on the scale of under $100, but small on the scale of 25 cent bags of chips...just to "build" his credit.

So do you have "good" credit only if you pay your bill on time, no matter how much the bill is? There has to be something where someone who payed his $1,000 bill on-time has better credit than someone who payed his $10 bill on-time...

I have a credit card with a $1,000 limit; typical monthly bill is usually around $300, and I always pay it on-time.
 
Aug 30, 2005 at 3:35 AM Post #6 of 8

The Monkey

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Quote:

Originally Posted by sumone
I have a question...

One of my friends said he would get a credit card & only buy small things...not small on the scale of under $100, but small on the scale of 25 cent bags of chips...just to "build" his credit.

So do you have "good" credit only if you pay your bill on time, no matter how much the bill is? There has to be something where someone who payed his $1,000 bill on-time has better credit than someone who payed his $10 bill on-time...

I have a credit card with a $1,000 limit; typical monthly bill is usually around $300, and I always pay it on-time.



Credit is a tricky thing. The first key is to always pay on time. Always, whether you pay the minimum or the full amount. But also keep in mind that higher available credit can count against you even if you don't use it. So in your example, the person with a better credit score is more likely the $10 on-time payer. That said, the person more likely to receive a slew of credit card offers is the $1000 on-time payer.

EDIT: There are many internet sites that can attempt to make sense of this complicated process, but the FTC is a good place to start: http://www.ftc.gov/bcp/conline/pubs/credit/scoring.htm
 
Aug 30, 2005 at 7:30 PM Post #7 of 8

gshan

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Quote:

Originally Posted by K2Grey

So, what are my options for buying things over the Internet?



Since you'll have a checking account, PayPal will become one convenient way to pay for things. Not a lot of stores support it, but I've successfully used it with Ebay, newegg, a few Head-Fi sponsors, and the FS/FT forum.
 
Oct 5, 2021 at 3:19 PM Post #8 of 8

freshlyfrank

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IMO, I regard both to be the same, honestly. Because both cards are being issued by the same bank. so if the bank takes good security measures, you'll be doing just fine. In fact, these two payment methods are the safest. I never buy the idea of a crypto or PayPal payment, maybe because I can’t see their issuers physically. Sometimes when I want to purchase something from a not-so-trusted website, I try to order a prepaid MasterCard from ezzocard first, then use that MasterCard for my payment. It’s a card that I won’t be using for a long period, so I don’t mind risking it on those kinds of sites.
 
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