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Topic # 181033 29-Sep-2015 21:51
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Howdy,

Some stores dont accept credit cards, I'm guessing due to transaction fees they'd incur. Is it any different if you use a visa debit card? I'm guessing not...?
I  recently got a credit card and am wondering if there's any use in having the visa debit card still.


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  Reply # 1396932 29-Sep-2015 21:54
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If they do not accept Credit Cards then the Visa Debit card will work but only functioning as an EFTPOS card.




Perpetually undecided.

Stu

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  Reply # 1396933 29-Sep-2015 21:55
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Debit cards just work as an EFTPOS card in the machines. You select cheque account and you're all good. Don't select credit card, as they aren't one.




Keep calm, and carry on posting.

 

 

 

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  Reply # 1396939 29-Sep-2015 22:02
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canaletto: Howdy,

Some stores dont accept credit cards, I'm guessing due to transaction fees they'd incur. Is it any different if you use a visa debit card? I'm guessing not...?
I  recently got a credit card and am wondering if there's any use in having the visa debit card still.


VISA debit is the best. It's basically your bank account. 

Credit cards are loaded with additional charges and fees. Not sure why anyone actually uses them unless they need to borrow the money.

I recently went overseas and I did use a credit card....but I put a $15,000 credit balance on the card so that by the time I got home I still hadn't borrowed a penny. That's the only way 'credit' cards make any sense at all......as you can't use the EFT-POS function outside NZ.  






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  Reply # 1396942 29-Sep-2015 22:06
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Linuxluver:
Credit cards are loaded with additional charges and fees. Not sure why anyone actually uses them unless they need to borrow the money.



because you can negotiate out of the fees, or get cooperate discounts which kick the fees to the curb so you pay nothing on them.

then you get 50-55 days interest free money

if you pay the money back on time it doesnt cost you a cent.

+ you can get air points/cash back rewards etc

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  Reply # 1396944 29-Sep-2015 22:09
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Jase2985:
Linuxluver:
Credit cards are loaded with additional charges and fees. Not sure why anyone actually uses them unless they need to borrow the money.



because you can negotiate out of the fees, or get cooperate discounts which kick the fees to the curb so you pay nothing on them.

then you get 50-55 days interest free money

if you pay the money back on time it doesnt cost you a cent.

+ you can get air points/cash back rewards etc


Fair enough. I'm not disciplined enough to keep my cc payment in an interest-bearing account while the 555 days tick onward. :-)  

Air points....yeah. That works. :-)  




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  Reply # 1397013 30-Sep-2015 06:35
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Linuxluver:
Jase2985:
Linuxluver:
Credit cards are loaded with additional charges and fees. Not sure why anyone actually uses them unless they need to borrow the money.



because you can negotiate out of the fees, or get cooperate discounts which kick the fees to the curb so you pay nothing on them.

then you get 50-55 days interest free money

if you pay the money back on time it doesnt cost you a cent.

+ you can get air points/cash back rewards etc


Fair enough. I'm not disciplined enough to keep my cc payment in an interest-bearing account while the 555 days tick onward. :-)  

Air points....yeah. That works. :-)  


Says the man who had $15,000 to put a credit card into credit!




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  Reply # 1397016 30-Sep-2015 06:48
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  Reply # 1397056 30-Sep-2015 08:46
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Linuxluver:
Credit cards are loaded with additional charges and fees. Not sure why anyone actually uses them unless they need to borrow the money.


Because things like reward points / cashback are worth far more then the fees.

You spend your money on the stuff you usually would, and you get point to get free stuff with. Why wouldn't you use a credit card?




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  Reply # 1397096 30-Sep-2015 09:39
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Michaelfjs:
Linuxluver:
Credit cards are loaded with additional charges and fees. Not sure why anyone actually uses them unless they need to borrow the money.


Because things like reward points / cashback are worth far more then the fees.

You spend your money on the stuff you usually would, and you get point to get free stuff with. Why wouldn't you use a credit card?


Because, like a loaded gun, they're dangerous things in the wrong hands! While we make a damn good 'profit' off our credit card (stick all purchases on it but only purchase something if we already have the money saved, have discounted fees, earn interest off the money which will be used to pay it off, pay it off in full, get airpoints...), it does require a certain level of discipline and care.

Some just can't be bothered with this, while there are others who when they get a credit card are like a kid in a lolly shop and will spend up large on such credit. Of course, they're the type of customers banks want to have credit cards as they'll be the ones paying the farcially high levels of interest on their purchases (if not cash advances).

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  Reply # 1397116 30-Sep-2015 09:54
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Linuxluver: 

Credit cards are loaded with additional charges and fees. Not sure why anyone actually uses them unless they need to borrow the money.


International air lounge passes and hotpoints!

I don't bother with air points as I don't fly second rate airline.





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  Reply # 1397154 30-Sep-2015 10:45
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Jase2985:
Linuxluver:
Credit cards are loaded with additional charges and fees. Not sure why anyone actually uses them unless they need to borrow the money.



because you can negotiate out of the fees, or get cooperate discounts which kick the fees to the curb so you pay nothing on them.

then you get 50-55 days interest free money

if you pay the money back on time it doesnt cost you a cent.

+ you can get air points/cash back rewards etc


Pretty much this - everything that can goes on our credit card - it is all paid off every month and we get True Rewards dollars. We have cash sitting in other accounts too.

VISA is accepted pretty much everywhere - bonus stuff like their travel insurance (with caveats), access to buy tickets early.

It is also a great oh crap fund in case of something major that you weren't expecting.

If you pay them off in full every month they are great - if you don't they are an endless hole of misery and despair. This needs to be drummed into people's heads when they apply for one. 25k at the horrific interest banks charge is not easy to get out of.

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  Reply # 1397156 30-Sep-2015 10:47
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Jase2985: because you can negotiate out of the fees, or get cooperate discounts which kick the fees to the curb so you pay nothing on them.


I must say I've found ANZ very inflexible with waving their fees on the Airpoints Visa Platinum. Even with having all my banking inc a mortgage with them. 

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  Reply # 1397261 30-Sep-2015 11:54
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lxsw20:
Jase2985: because you can negotiate out of the fees, or get cooperate discounts which kick the fees to the curb so you pay nothing on them.


I must say I've found ANZ very inflexible with waving their fees on the Airpoints Visa Platinum. Even with having all my banking inc a mortgage with them. 


im in the second boat, cooperate discount. so no fees on any account and discounted interest rates.

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  Reply # 1397265 30-Sep-2015 11:57
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Yeah I don't care about the interest rate, I'm never silly enough to leave something on their long enough, but the $150 a year is a bit sharp. I got the first year free but after that they don't want to know. Think it's time to change cards. 

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  Reply # 1397266 30-Sep-2015 11:59
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i dont care about the interest rate either, but then it applies to mortgage rates its pretty good :)

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