Just a note for those who use Debit cards.

[Ughmahedhurtz]

[edit] Damnit, wrong quote.

I used my debit for years but I've got a nice no annual fee rewards credit card that I pay off every month. You'd be surprised how much those points add up at the end of the year if you pay utilities, phone, groceries, etc... with the rewards card. However this does require that you can have financial restraint and not spend more than your budget because you don't see an immediate impact on your checking account.

Agreed. I had spending issues on mine when I was younger but it works well nowadays. And I have a better "paper trail" than I did with checking for the most part.

I never *ever* used "debit". If I could have the functionality removed from my card I would, but my bank tells me it's not possible. I always use the "credit" option. Not because I'm delusional and thinking the money won't come out of my bank account, but because transactions that are debit type are not governed by the same rules as credit cards. Your bank *has* to follow Visa/Mastercard's rules if the transaction is done as "credit". If the transaction is done as "debit", any issues about the transaction is governed by the bank's rules. I'd rather have Visa governing my transactions than my local bank, Visa has more to lose via public outcry. I can initiate a charge back on *any* transaction I do, some/most banks won't let you even try to contest a debit charge unless you can prove it's due to theft / loss of PIN.

Exactly. The CC rules are effectively "innocent until proven guilty unless we detect a pattern of abuse," where banks/debits are "fuck you, prove it." Obvious caveat about all banks not being equal applies.