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Is it possible to live entirely without credit cards?
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2019 Feb 22, 7:23pm 994 views 11 comments
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1
Booger
2019 Feb 22, 7:35pm
Booger
2019 Feb 22, 7:35pm
Do you trust Paypal?
Often you can use it instead of a credit card.
Can you even get a hotel without a credit card?
Often you can use it instead of a credit card.
Can you even get a hotel without a credit card?
2
clambo
2019 Feb 22, 7:35pm
I love my AAA Mastercard. It's been very easy to reach a human in North Dakota or Omaha on the phone when I have a question. I believe the bank is US Bank.
When I pay my car insurance with it, I get a 3% discount.
I had a fraudulent charge once and they emailed me and called me. They asked if I made the charge and I said no, and they reversed it. It was not a big hassle rather just a phone call and not an eternity on hold.
You could get one with a low limit just so you can make reservations for things with it, e.g. rental car, hotel reservation, etc.
I have $1000 overdraft on my checking so I can use the ATM card with no actual balance. They charge me interest of course.
When I pay my car insurance with it, I get a 3% discount.
I had a fraudulent charge once and they emailed me and called me. They asked if I made the charge and I said no, and they reversed it. It was not a big hassle rather just a phone call and not an eternity on hold.
You could get one with a low limit just so you can make reservations for things with it, e.g. rental car, hotel reservation, etc.
I have $1000 overdraft on my checking so I can use the ATM card with no actual balance. They charge me interest of course.
3
CBOEtrader
2019 Feb 22, 8:24pm
CBOEtrader
2019 Feb 22, 8:24pm
Patrick says
Pro tip: almost every service that gives a free trial but requires a CC will accept a bunk CC. It'll cancel that free service automatically when they go to charge it 2 weeks later.
Problem solved.
One thought is to have a debit card with a balance of $0,
Pro tip: almost every service that gives a free trial but requires a CC will accept a bunk CC. It'll cancel that free service automatically when they go to charge it 2 weeks later.
Problem solved.
4
BayArea
2019 Feb 22, 8:24pm
BayArea
2019 Feb 22, 8:24pm
My wife and I cut all our credit cards in 2014. By 2015 I noticed my credit score dropped 100pts.
Since I need credit for real estate, I got back in the credit card game and it took a year to get the score above 800 again.
Dave Ramsey has a famous line where he says, “I can buy the whole damn building in cash but I can’t rent a unit because I have no credit” or something to that effect.
If you want to participate in this society, you need credit, sad.
Since I need credit for real estate, I got back in the credit card game and it took a year to get the score above 800 again.
Dave Ramsey has a famous line where he says, “I can buy the whole damn building in cash but I can’t rent a unit because I have no credit” or something to that effect.
If you want to participate in this society, you need credit, sad.
5
CBOEtrader
2019 Feb 22, 8:27pm
CBOEtrader
2019 Feb 22, 8:27pm
Booger says
PayPal also offers credit, btw. I use it when I shop on amazon. PayPal has a superior fraud prevention system as compared to a bank.
I called them once when a service provider didnt do what he was contracted to do. After a "mediation" period wherein they ask counter party for an explanation, they reversed the payment right out of his bank account connected to his PayPal= fucking awesome!
Second pro tip= be VERY careful accepting payment via PayPal for the same reason.
Do you trust Paypal?
Often you can use it instead of a credit card.
PayPal also offers credit, btw. I use it when I shop on amazon. PayPal has a superior fraud prevention system as compared to a bank.
I called them once when a service provider didnt do what he was contracted to do. After a "mediation" period wherein they ask counter party for an explanation, they reversed the payment right out of his bank account connected to his PayPal= fucking awesome!
Second pro tip= be VERY careful accepting payment via PayPal for the same reason.
6
Hircus
2019 Feb 22, 8:28pm
Hircus
2019 Feb 22, 8:28pm
I've had my credit card # stolen a handful of times, and it has always been a very painless experience. Usually about 10 minutes on the phone and that's it - they reverse all charges I dispute, and send me a new card. The bigger hassle is updating my auto pay on stuff like car insurance to give them the new acct #, but meh - maybe another 10-20 min of work.
The occasional work is worth the convenience IMO.
You might look into prepaid credit cards though.
The occasional work is worth the convenience IMO.
You might look into prepaid credit cards though.
7
MrMagic
2019 Feb 22, 9:44pm
MrMagic
2019 Feb 22, 9:44pm
Hircus says
I agree..
I keep one credit card for online purchases that has a low credit line. It has been stolen like 5 or 6 times, and a quick call to Chase gets everything squared away and a new card issued.
Patrick says
Way to much work, you're over thinking this. With modern fraud alerts, if someone gets your card number, you get quickly notified and it's not a problem.
I also have a Southwest card that we run all the regular monthly crap on to log lots of points. We haven't paid for an airline ticket in years, and this is just a FREE side benefit of charging the monthly crap instead of writing a check or paying thru Billpay.
I've had my credit card # stolen a handful of times, and it has always been a very painless experience. Usually about 10 minutes on the phone and that's it - they reverse all charges I dispute, and send me a new card. The bigger hassle is updating my auto pay on stuff like car insurance to give them the new acct #, but meh - maybe another 10-20 min of work.
The occasional work is worth the convenience IMO.
I agree..
I keep one credit card for online purchases that has a low credit line. It has been stolen like 5 or 6 times, and a quick call to Chase gets everything squared away and a new card issued.
Patrick says
One thought is to have a debit card with a balance of $0, and then move money onto it immediately before paying for anything. Then your damage is always limited to the amount you just transferred to the debit card. Anything wrong with this approach? Do banks let you keep a debit card with a $0 balance without charging a big fee for that?
Way to much work, you're over thinking this. With modern fraud alerts, if someone gets your card number, you get quickly notified and it's not a problem.
I also have a Southwest card that we run all the regular monthly crap on to log lots of points. We haven't paid for an airline ticket in years, and this is just a FREE side benefit of charging the monthly crap instead of writing a check or paying thru Billpay.
8
RWSGFY
2019 Feb 22, 10:04pm
RWSGFY
2019 Feb 22, 10:04pm
Irrational fear. In my experience dealing with fraudulent cc charges is both very rare and very painless. I once even got money back from
a towing company. While not techically a fraudulent charge it wasn't like I ordered to have my car towed. ;) So I marked that transaction as fraudulent, the towing company has ignored the letter my cc company sent to them - and voila: the money these fucks has extorted are back in my pocket.
a towing company. While not techically a fraudulent charge it wasn't like I ordered to have my car towed. ;) So I marked that transaction as fraudulent, the towing company has ignored the letter my cc company sent to them - and voila: the money these fucks has extorted are back in my pocket.
9
PeopleUnited
2019 Feb 24, 4:55am
PeopleUnited
2019 Feb 24, 4:55am
Hugolas_Madurez says
Agreed, credit card companies only make money when people use their cards. They work really hard to make it safe and easy to do.
Irrational fear. In my experience dealing with fraudulent cc charges is both very rare and very painless. I once even got money back from
a towing company. While not techically a fraudulent charge it wasn't like I ordered to have my car towed. ;) So I marked that transaction as fraudulent, the towing company has ignored the letter my cc company sent to them - and voila: the money these fucks has extorted are back in my pocket.
Agreed, credit card companies only make money when people use their cards. They work really hard to make it safe and easy to do.
10
lostand confused
2019 Feb 24, 5:31am
lostand confused
2019 Feb 24, 5:31am
It helps if you travel -local and international. Carrying wads of cash is not a solution and the police can do an asset forfeiture. I have had fraudulent transactions show up occasionally-banks were good about it.
You need discipline, when I was youngI overspent and wound up with hug balances, then lost my job. Managed to pay back balances . Lesson learnt.
Now I carry a balance maximum two cycles, if it goes beyond that, then I cut all expenses. Works like a charm. But also keep track of what is going in , what is going on-how much savings I have , I could be jobless for abit etc etc.
It is justa tool -like any tool depends on how you use it.
You need discipline, when I was youngI overspent and wound up with hug balances, then lost my job. Managed to pay back balances . Lesson learnt.
Now I carry a balance maximum two cycles, if it goes beyond that, then I cut all expenses. Works like a charm. But also keep track of what is going in , what is going on-how much savings I have , I could be jobless for abit etc etc.
It is justa tool -like any tool depends on how you use it.
11
Waitup
2019 Feb 24, 6:08am
Waitup
2019 Feb 24, 6:08am
I have only 1 CC. It is an Amazon card and I accrue points when I use it which I like. I pay it off every month so don't pay interest and enjoy the benefits.
Any fraudulent charges have always been reversed without any issues.
Any fraudulent charges have always been reversed without any issues.
I've realized that most things you think you need a credit card for can be paid via an online checking account. I now pay most of my bills with online checking, and I pay restaurants in cash.
Amazon of course offers to let you sign over your whole checking account to them. That is, you can give them permission to take arbitrary amounts of money out of your checking, and leave you with no money, fighting to get it back if you were overcharged or someone got into your account. Not just no way, but no fucking way.
One thought is to have a debit card with a balance of $0, and then move money onto it immediately before paying for anything. Then your damage is always limited to the amount you just transferred to the debit card. Anything wrong with this approach? Do banks let you keep a debit card with a $0 balance without charging a big fee for that?
Suggestions appreciated.