Visa debit card

[daisylu]

DH received his new bank debit card yesterday - with the following notice:

"Your daily limit at Visa merchants will be the balance of your checking account - not to exceed $1500." There was never a POS limit before.


I carry CCs, but DH HATES them - so he refuses to get one. Scratch that, I did talk him into a Best Buy Visa when we bought our new TV. Only because they offered him 0% financing for 3 years.

I know it is a big no-no to use debit cards for hotel stays and what-not, but DH will use nothing else. Looks like now he will have no choice.

To be fair, he bought his house at 18, let his GF move in a year later, co-signed for her car and CCs which she defaulted on, and was dangerously close to losing the house (which was built on land that his his grandfather left him that had been in the family for generations). So any type of debt freaks him out.

[The Walk of the Penguin Mich]

Looks like now he will have no choice.

Maybe, maybe not. It's a pain in the ass, but I *think* if you call VISA and tell them you want to increase it for a particular purchase, you can.

My sister has gone 100% to debit cards and she has to do this.

[Tiny]

google the Michael's Debit Card breach... basically about 100 stores across the country had tampered with readers that collected card numbers/pins. Many of the 'cards' were used in California - and lots of people had $500 or so dollars (sometimes more) withdrawn from their bank accounts. Some of the Big Banks have replaced the money quickly - but people with smaller banks may have to wait and file claims to get that money replaced.
I guess if you keep a large 'cushion' of money in checking an unexpected 'missing' $500 or so won't be a major pain in the butt (late fees on payments, NSF charges, no cash, etc) while you wait for the Bank to OK your fraud claim.

Just saying that for someone who can handle using a Credit Card (don't need the hard cut off when the money's gone) there is definitely more risk for some major life annoyance and drama with a Debit Card than with a Credit Card.

[Angel!]

If the man dislikes CCs, then why force him to have one? How often do your daily purchases exceed $1500 anyway?

[swamp]

May 12, 2011 13:21:11 GMT -5 Angel! said:

If the man dislikes CCs, then why force him to have one? How often do your daily purchases exceed $1500 anyway?

About once a year.

When we redid the kitchen, I put the cabinets and the countertops on my AmEx card at the same time, I think I spent about $20k that day.

[alabamagal]

The limit protects the bank from large fraud cases. It also protects you against large fraud losses. Even though any fraud committed against your account is supposed to be repaid back to you by the bank, it can take several days.

Our bank has a limit, if you call them and ask them, they will authorize large charges. A little bit of a PITA, but can't say that we do this more than once a year. You can do other large options for large purchases, checks or heaven forbid, cash!

[NomoreDramaQ1015]

If you have CCs then what is the worry? I can't imagine many times when your husband will need access to more than $1500.

Our limit is $3k and I've never spent that much on the card in one shot even during an emergency.

If you are concerned why not make him an authorized user on one of your cards and then worst comes to worst he can use your card in an emergency.

If neither one of you had CCs I would understand your worry, but if the man doesn't want a credit card then he doesn't want a credit card, don't try to force him to have one.

[daisylu]

This year, there has been at least 1x/month that he would have gone over that limit.

For those who called the bank to get prior approval, did you have to give specific dates, or was it general "in the next couple of days"?

For the record, it is not my intention to force him to do anything. I just know how much he HATES those type of inconveniences.

[NomoreDramaQ1015]

If he goes over that limit on a regular basis then it does make sense to get a credit card.

If he won't get a credit card you might have to wait till he's up a creek and needs more than the limit before he gets on board with it.

Or has to spend large amounts of time on the phone making sure he gets preapproval every time he's going to go over. Having to deal with automated bank phone lines might be enough to wear down his resistance.