The use of credit cards can be just what it says, CREDIT (or time to pay). If cards are paid on time there is no interest. Better still there are no bank charges. I have paid my card today, over $3,500, 30 transactions ,the first on 18.11.07 and the last on 17.12.07. No fees and no interest. Had I paid in the "old" manner by cheque, cash and electronic transfer I would have had considerable bank charges and not had an interest free loan for the period of the credit.These credit cards are a real problem, wouldn't it be easier for people to simply use savings transfer, the bank accounts have minimal cost per month but you don't hear about that being a real problem, or are they? overseas I suppose credit cards would still have to be the go.
You probably cost yourself more in interest than a couple of "fraud" withdrawls would cost.My credit card is almost always on the credit limit, so there aint no problem with fraudulant transactions.
Tip... is to keep it close to the limit, or reduce the credit limit, as to avoid large transactions being undertaken.
The use of credit cards can be just what it says, CREDIT (or time to pay). If cards are paid on time there is no interest. Better still there are no bank charges. I have paid my card today, over $3,500, 30 transactions ,the first on 18.11.07 and the last on 17.12.07. No fees and no interest. Had I paid in the "old" manner by cheque, cash and electronic transfer I would have had considerable bank charges and not had an interest free loan for the period of the credit.
I use two cards, one has a large limit which I use most times. The other has a limit of only $3000 which I use where there is some risk. I have had acard since they were first introduced to Australia and have only had one problem and that turned out to be a bank teller taking out a cash withdrawl of $200. He got the sack and I did not lose out.
Beat the banks, use a credit card.
I found my details published on an online store site a few years ago. Something had gone wrong and anyone who went to the site was handed my credit card details.
Thankfully an honest person emailed me (they could see ALL my account details) to let me know. I phoned the bank (Commonwealth) and they cancelled the card there and then.
A few days later I got a new card in the mail. All fixed and it didn't cost me a cent. It was a hassle though with the inconvenience of waiting for the new one, checking the statement very thoroughly etc.
It's not always possible to reduce the limit, I used to have a VISA card that was a good deal (lower interest rate) through a professional society I was a member of, the minimum credit limit was $10k. I ended up getting another card with a $500 limit for Internet transactions.Tip... is to keep it close to the limit, or reduce the credit limit, as to avoid large transactions being undertaken.
What is a VISA debit card?
Visa Debit cards function exactly like any Visa card but provide direct access to funds in a cardholder’s deposit account rather than a line of credit. With Visa Debit, cardholders exercise the choice to “pay now,” compared with Visa credit products, which allow cardholders to “pay later.”
Hey wysiwyg,
With a Visa Debit card wouldn't the money be harder to retrieve in the case of the details being stolen though?
As it is with my Visa Credit card, I haven't actually lost any money because I haven't paid for the fraudulent transactions. Funnily enough, when we were on the phone reporting the fraud (from the banks office) the people on the phone said to pay the full amount and the lady who was helping us at the bank was vigourously shaking her head at us to say don't pay it!
cheers
Mouse
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?