Weeze

So, I am losing nothing financially by clicking credit and signing as they make money from the transaction fees they charge the stores? Have I got that right? I can't actually be using this card as a credit card as that was a different application and as I said, I haven't received that yet.

sir_eccles

Other than time no, though one could theorize that in the long run the merchant might have to raise prices to cover credit card fees.

The card is primarily a debit card but can be processed as a credit card, the money still disappears from your account directly either way.

The consumer protections for credit card use is stronger in some respects.

Mummy in the foothills

My debit card can be used either way, debit or credit. The money all comes out of the same place debit it goes immediately and credit it usually takes a day or so. But it doesn't cost me anything. Debit I need the PIN credit I have to sign.

Duncan Roberts

Check the terms of your account. My debit card rewards program gives me 1 point for every $6 spent if I use the debit option and 2 points per $1 if I use the credit option. The only other difference is the charges take a couple of days longer to post when using credit but I still have to have the money in the account in order for it to be approved.

Bluegrass Lass

Exactly. Every card I've ever used to access my bank account has had the capability to be used either as a debit (entering the PIN) or as credit - all transactions always come straight from our checking account. I've always read that using it as a credit gives better buyer protection in case an item needs returned. We just opened a new bank account today at US Bank, and we were told that our new card will gives us extra points if we use it as a credit card, instead of as a debit.

robin1234

Here, a lot of stores do not give you a choice because they do not have the pin reading terminal. The only way they can process a debit card payment is by treating it like a credit card & you get to sign the slip. The store saves on not buying/renting the hardware (presumably), but has to pay more for the transaction.

Sally Redux

I'm really confused now. I use my debit card for debits and my credit card for credit.

helwardman

That's exactly what I do.

Duncan Roberts

Just think of it as a processing route. Selecting debit when swiping the card goes down route 1, selecting credit goes down route 2. You can do either with either type of card depending on the system used to swipe and process the card. With a debit card the debit option is kind of like a wire transfer, the money in your account is immediately marked for transfer and then goes through the transfer process. The credit option is kind of like an IOU, a request gets sent to your bank and it will post in a day or so, possibly more. With a credit card running it through as a debit card will process as a cash withdrawal, that's not a good thing to do.

Weeze

Brilliant, now I understand totally! What do points make....prizes! (I bet after all this I find that the points on this account are actually a load of tripe)

Sally Redux

Slightly clearer but I don't see how the debit card would give you points - is it part of the same scheme?

Duncan Roberts

Depends on your bank, lots offer some sort of reward point program, same as some credit cards. For instance, this is mine. It's not great but hey. https://www.key.com/html/debit-card-rewards.html

Sally Redux

Thanks for that. I'll add it to the huge list of things I should be doing to get better vaue

Bob

Naaa...it works the same way on a debit card, difference is, Visa offer a points system on debit cards but you only get the points if you run the card as credit and sign for it instead of as a debit card.

Bob

Depends on the bank...some of the stuff I can claim can be really awesome, but I never bother as I finally get enough points for something, I'll see something else a little bit better to get for a few more points

Almost got the kidlet a wooden kitchen toy set, but then we were moving and the thought of having to deal with it gave me shivers...working towards something else now, she missed her chance