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I appreciate the comments

Published:

Thank you guys for the comments.  I understand all but where I live "card crime" seems to be very high.  BOA puts your picture on their cards but thieves have found a way to take the picture off and put their own on there.  One lady got taken for 15,000.00 over a week-end/holiday period.  I have seen people go in Walmarts and try to buy merchandise with "questionable cards". people will take your money if you leave your card in the machine. Here, people seem to be desperate or something..I don't know but I watch my things with a "hawk eye".  The attitude by many is that stealing is okay.  I don't steal and that is why I get very, very angry when someone takes something from me.  My Dad always told us, "If its not worth asking for, then its not worth having."  I try to help folks out when I can but when they start asking ALL of the time, I start saying no. 

Entry #42

Comments

1.
time*treatComment by time*treat - July 30, 2008, 9:16 am
1. When you use/lose a debit card, you have more exposure (all of your money) than when you're carrying cash. I.e., more people have cards with $5,000 in the bank than carry $5,000 in cash.
2. Not every place accepts cards (try having a car breakdown in the middle of podunk), so carrying them is not always your best option - despite popular propaganda by the banks and the useful idiots that trust them.
2.
justxploringComment by justxploring - July 30, 2008, 1:57 pm
When I took a course years ago I learned that The Fair Credit Act which protects credit cards doesn't apply to debit cards. Many people don't realize that. So a credit card is safer to use. Some stores prefer using a debit card where you enter a PIN because they pay less for the transaction & get their money faster. (I know this from my own experience in retail.)

I'm not sure, time*treat, why you would say banks that give out debit cards are promoting propaganda. You don't have to use them. An ATM card is for your convenience. I've read that some banks charge if you go to a teller, but I've never gotten a fee from any bank. Most banks promise to replace any money stolen from your account, but I wouldn't want to go through that hassle. However, I have to admit that I use the debit card from my checking all the time at Publix, Walgreen's and other places where I can get cash back. But I monitor that carefully by checking my account online. Actually, in the time it took to write one comment on LP, you can check a bank account, a credit card, etc. That's why I'm surprised when people say they found out about ID theft or fraudulent charge a month later. That said, I know many people don't use computers.

LittleOldLady, thanks for this blog entry. I guess like most people, I tend to look at the world with tunnel vision, although I try to be open-minded. I can't make a decent living here and wanted to move to another state, but all the statistics show very high crime rates wherever I've looked. Even 25 miles from here there's lots of crime. Everytime I turn on the news there's another shooting in Fort Myers or Cape Coral. It's only going to get worse.

Regarding helping folks, you sound like a kind & patient person. One thing I learned, however, is that many people ask for help but don't want to hear the truth. 2 of my neighbors I warned still bought homes (one was a mobile & the other a condo) Now both of them are in trouble. One of them didn't pay for an inspection and the Board of Health condemned his condo building due to hazardous mold. He moved back into an apartment. Another figured he'd skip a couple of car payments because he needed the money for something else and then knocked on my door when his car was repossessed. I keep telling my next door neighbor about the stimulus check (she's getting soc sec) & she hasn't done a thing. My neighbor whose husband died in May is still getting his disability check by direct deposit. I told her she needs to notify Social Security because she also gets her own soc sec check, so that's fraud. She just smiled and said "they're so screwed up, it'll take them years to figure it all it." Hope she enjoys prison food. I know I often sound uncaring & mean, but I get frustrated hearing these stories.
3.
ThatScaryChickComment by ThatScaryChick - July 30, 2008, 2:20 pm
Funny you should say that about BOA bank cards (the ones with photos), My mother, my youngest sister and I all have those cards and my youngest sister uses my mothers card all the time. Only one place has said something about that and that was McDonald's. She went there with some friends and they said they can't take a card with someone else's face on it, but she told them it was my moms card and they said ok, just this once. lol. They do look similar, but you can tell the difference between a sixteen year old girl and a fifty-year old woman.

I have even used my moms card once. And my mom is white and I am half black/white. We do look similar, and you could tell we are related but I am obviously not her and the grocery store still took the card without hesitation. It's kind of scary. I mean, we use each others cards all the time, but we are family. If we lost the card, it would be so easy for someone to just start spending with it.
4.
time*treatComment by time*treat - July 30, 2008, 4:51 pm
@jxp: There are a series a 'check card' commercials that show how smooth-and-wonderful life is, for those who swipe their 'card' (Yay!). Then the one-putz-with-cash shows up, and brings everything to a halt (Boo!).... "because life doesn't wait..."
Heaven help the poor cashier who might have to count back the change, but that topic is for another day. :-)
5.
TenajComment by Tenaj - July 30, 2008, 5:34 pm
How long ago did you read about the Fair Credit Act that debit cards are not protected like credit cards because 5 years ago I purchased a Hoosier Cabinet at an antique store and used my debit card to pay for it and the owner did a "bait and switch" on me - did not deliver the one I bought. (next time I will take pictures) and I filed a complaint to Bofa about the "bait and switch" and they put my money back in my account, just as if it was a credit card. That was in 2003.

But according to the Fair Credit Act - if you debit card is stolen and if you report it before it is used you are only liable for $50.

http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm

I guess my situation was different because the Hoosier Cabinet was $900.
6.
justxploringComment by justxploring - July 31, 2008, 12:21 pm
The Fair Credit Act does not cover debit cards, Tenaj, but most banks will protect you and Bank of America has always advertised that they will not charge for fraudulent purchases.

Scary, I hear what you are saying, but this is what I mean when I often post about responsibility. When I got divorced (don't yell at me for being stupid) I allowed my ex to use one of my cards. He promised to pay the bills. So who was responsible when I found out it was 90 days past due? I was! That was a long, long time ago before photos were on cards, but I still got him a card with his name of it. If your Mom hasn't reported any cards missing or stolen, there is nothing that alerts the clerk or cashier to check it. I've never had a bank card with a photo. In fact, for at least a year or 2, many stores ask the customer to swipe her own card so they never take possession of it. I'm not trying to be argumentative, but if a person loses something of value, it's customary to report it immediately. After that, all store processors will tell the cashier to call the processing center.

Tenaj, I guess there were some new bills passed last year. This is a good article from 2007. So I guess there is something called "The Electronic Funds Act" as well.

http://articles.moneycentral.msn.com/Banking/BetterBanking/DebitCardsAGoodDealGetsBetter.aspx?
page=all

It says: The Electronic Funds act, which covers debit cards, says liability is dependent on how quickly you report the loss or theft. If you report the theft within two business days, you are liable only for $50 in unauthorized use. If you don't report the loss in two business days, according to the Federal Trade Commission, "you could lose up to $500 because of an unauthorized transfer. You also risk unlimited loss if you fail to report an unauthorized transfer within 60 days after your bank statement containing unauthorized use is mailed to you. That means you could lose all the money in your bank account and the unused portion of your line of credit established for overdrafts."

7.
justxploringComment by justxploring - July 31, 2008, 12:23 pm
Let's try this again - did work for me.

http://articles.moneycentral.msn.com/Banking/BetterBanking/DebitCardsAGoodDealGetsBetter.aspx?page=all
8.
justxploringComment by justxploring - July 31, 2008, 12:41 pm
Just one more comment - you can set up most accounts to warn you via email or phone if someone charges an item over a certain dollar amount. Don't know if this is available from all companies. They're called "alerts" For example, if someone walked into a store and used my Discover Card and charged a computer for $500, I would get a notification via email. Doesn't stop the thief of course, but let's you know someone is using your card.

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