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NorthernGent -> RE: Warning do not get a GE money bank credit card (8/13/2007 11:29:10 PM)
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quote:
ORIGINAL: ownedgirlie
quote:
ORIGINAL: NorthernGent
Debit cards secure hotels, flights etc over here. With these, you can only spend what's in your bank, unlike credit cards. I assumed the same is true in the US, maybe not.
It is. The problem is, if someone swipes your number, unlike a credit card, they get the money in your bank - poof - just like that, and you'll play hell trying to get it back. Whereas with a credit card, you're not actually paying out of pocket and therefore you're not out any money while it's all getting sorted.
Well, at the risk of playing tit-for-tat, they don't get the money in your bank here, you're covered for the small fee of about a £5 one off charge, it's happened to me in the past and the bank refunded the stolen money no problem. They were good for their word, unlike an insurance company.
A car? I would never get into debt for a car. I've always saved for mine and as a last resort would rather buy an old banger than get into debt. Once you're in debt with the banks and loan companies, you're their property for them to pull the plug as they see fit. To each their own, but I wouldn't advise it.
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