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Everydaymatters

Conductor
Joined
May 15, 2006
Messages
3,236
Location
Just North of Normal, Illinois
I still haven't unfrozen my credit info with the 3 major reporting services in order to get the AGR credit card.

I'm boycotting the credit cards presently in my possession. Visa went from 10.9%, which was outrageous, to 11.9%. This is a personal account and I have heard that business accounts have a lower rate. I rarely use my other cards, so I don't know about them.

I always pay them off when I get the bill, so I've never had to pay interest, but it really irks me. I'd like to know what happened to all the money the government (we) have given to the banks so they could ease up on credit.

Therefore, no more credit cards for me. I'm going to see if I can get a debit card at one of my banks and see if I can use it when ordering things on line or on the phone. Have any of you ever done that? Use a debit card on line?

So - what's the rate on the AGR credit cards?
 

the_traveler

Conductor
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Nov 14, 2007
Messages
26,008
Location
Whatever siding I'm sitting on!
I (almost) always pay all my credit card balances in full every month. Thus my interest rate is -0-%! (So I don't care if it's 10%, 20%, 30% or 152%! I just bought a big screen TV (with my AGR MC) and did not (yet) pay it off - so this is one of the (VERY) few time in over 20 years that I paid interest.

I think the rate is 12.(something)%!

What irks me is that American Express reduced my credit limit on my BUSINESS account from $21K to $2K! :blink: Yet, Chase just INCREASED the credit limit on my PERSONAL account to over 6X that amount! :rolleyes:
 

Ryan

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Joined
Apr 14, 2008
Messages
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Location
OTN
Do NOT, under any circumstances, use a debit card online. When the inevitable happens and someone gets ahold of that card number and makes fraudulent charges, instead of being able to "let it ride" on your CC statement while it gets investigated and adjudicated, you'll be out that money from your checking account. If they wipe out your account and cause a whole mess of overdraft fees, you'll have to live with the negative balance (and have no money to spend or pay other bills) until the entire mess gets sorted out.

10.9% and 11.9% are actually both pretty decent rates and no reason to protest anything.
 

Rail Freak

Conductor
Joined
Apr 5, 2008
Messages
4,968
Location
Tampa Bay, Florida
Do NOT, under any circumstances, use a debit card online. When the inevitable happens and someone gets ahold of that card number and makes fraudulent charges, instead of being able to "let it ride" on your CC statement while it gets investigated and adjudicated, you'll be out that money from your checking account. If they wipe out your account and cause a whole mess of overdraft fees, you'll have to live with the negative balance (and have no money to spend or pay other bills) until the entire mess gets sorted out.
10.9% and 11.9% are actually both pretty decent rates and no reason to protest anything.
I did just that & ended up having to cancel my original card & GETTING A NEW ACCOUNT & #! Visa covered the charges but, it was a ROYAL PAIN!!!
 

Ryan

Conductor
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Apr 14, 2008
Messages
17,044
Location
OTN
Exactly - let the credit card companies take on that risk for you.
 

printman2000

Conductor
Joined
Nov 9, 2005
Messages
3,753
Location
Amarillo, Texas
Do NOT, under any circumstances, use a debit card online. When the inevitable happens and someone gets ahold of that card number and makes fraudulent charges, instead of being able to "let it ride" on your CC statement while it gets investigated and adjudicated, you'll be out that money from your checking account. If they wipe out your account and cause a whole mess of overdraft fees, you'll have to live with the negative balance (and have no money to spend or pay other bills) until the entire mess gets sorted out.
10.9% and 11.9% are actually both pretty decent rates and no reason to protest anything.
I would have to concur. My card has been used fraudulently many times over the years, and I am VERY careful about where I use them online.
 

Alice

Conductor
Joined
Mar 6, 2007
Messages
1,006
Location
California
Do NOT, under any circumstances, use a debit card online. When the inevitable happens and someone gets ahold of that card number and makes fraudulent charges, instead of being able to "let it ride" on your CC statement while it gets investigated and adjudicated, you'll be out that money from your checking account. If they wipe out your account and cause a whole mess of overdraft fees, you'll have to live with the negative balance (and have no money to spend or pay other bills) until the entire mess gets sorted out.
10.9% and 11.9% are actually both pretty decent rates and no reason to protest anything.
I would have to concur. My card has been used fraudulently many times over the years, and I am VERY careful about where I use them online.
Several of my cards have an option for online use, in which I get an account number only good for one transaction.

I have never had an account used fraudulently. However, I have received several notices that my information may have been stolen from a vendor or bank, a much more common event and one that cannot be prevented by avoiding online merchants. After all, even if you are not online, your merchants and your bank are.
 

amtrakwolverine

Conductor
Joined
Mar 14, 2008
Messages
4,002
Location
Warren MI
I still haven't unfrozen my credit info with the 3 major reporting services in order to get the AGR credit card.
I'm boycotting the credit cards presently in my possession. Visa went from 10.9%, which was outrageous, to 11.9%. This is a personal account and I have heard that business accounts have a lower rate. I rarely use my other cards, so I don't know about them.

I always pay them off when I get the bill, so I've never had to pay interest, but it really irks me. I'd like to know what happened to all the money the government (we) have given to the banks so they could ease up on credit.

Therefore, no more credit cards for me. I'm going to see if I can get a debit card at one of my banks and see if I can use it when ordering things on line or on the phone. Have any of you ever done that? Use a debit card on line?

So - what's the rate on the AGR credit cards?
i only have a debit card and i use online all the time. mines a visa check card/atm. so i can use it in the ATM or at the store or online.
 

Trogdor

Conductor
Joined
Aug 3, 2004
Messages
5,625
Location
Here
Do NOT, under any circumstances, use a debit card online. When the inevitable happens and someone gets ahold of that card number and makes fraudulent charges, instead of being able to "let it ride" on your CC statement while it gets investigated and adjudicated, you'll be out that money from your checking account. If they wipe out your account and cause a whole mess of overdraft fees, you'll have to live with the negative balance (and have no money to spend or pay other bills) until the entire mess gets sorted out.
Depends on the bank. Two years ago, someone made a fraudulent copy of my ATM card and made $500 withdrawals on two consecutive days until I caught it when checking on my account status online. I called the bank, and they canceled the card and put the money back in my account in just a couple of days.
 

sechs

Conductor
Joined
Aug 18, 2005
Messages
2,146
Location
ATL
I don't use ATM cards. If I need cash, I walk into the bank and get it from a teller. That solves the debit card number theft problem.
 

ALC Rail Writer

Conductor
Joined
Sep 15, 2008
Messages
4,690
Location
Ohio
10.9% and 11.9% are actually both pretty decent rates and no reason to protest anything.
Agreed. I had one card with 14.5% that is now 22.9%... go protest that! I am not happy, of course, but I (like the_traveler) always pay down my balance so it doesn't affect me to the point of fretting over it.

For all intent and purpose, I would LOVE to have an increase of only 1%, or hell, just give me the 11.9%!
 

sky12065

Conductor
Joined
Jun 23, 2008
Messages
1,631
Location
The Villages FL - Formerly Waterford NY
Sorry if this is a slightly OTOT (off track - off topic), but I thought it would be interesting to any holders of a Discover card.

My wife just went out to make our payment online for our Discover card and the website indicated that through the end of this month they are increasing their cash back to 5% for purchases at any restaurant.

Sounded worth using instead of our AGR card at restaurants for the remainder of this month... so she signed us up!

Now back to our regularly scheduled program! :D
 

Everydaymatters

Conductor
Joined
May 15, 2006
Messages
3,236
Location
Just North of Normal, Illinois
Even though my I.D., along with thousands of others, was stolen from the State of Illinois's License Department, I have never (knock on wood) had my credit card used by anyone other than myself.

You all make it sound like it's easier for someone to use my debit card than it would be for them to use my credit card???? Am I seeing this right?

Now you've got me scared. I just signed up for a debit card at one of the banks. It's a debit/credit/ATM card. Is that safer than a simple debit card?

I've never used an ATM either. Gee, and here I thought I was doing a good thing and finally coming into the computer age.
 

Ispolkom

Conductor
Joined
Nov 27, 2007
Messages
3,058
Location
St. Paul, Minn.
Now you've got me scared. I just signed up for a debit card at one of the banks. It's a debit/credit/ATM card. Is that safer than a simple debit card?
I've never used an ATM either. Gee, and here I thought I was doing a good thing and finally coming into the computer age.
Banks push debit cards because they are a profit center for the bank, while checks are a net loss. That's why banks push them rather than ATM cards. I have never seen an advantage to me in using a debit card over using a credit card, so I've never gotten one myself, though I do have an ATM card. Here's a reasonable article on the disadvantages of debit cards.

Your mileage may vary, of course.
 
Last edited by a moderator:

jackal

Conductor
Joined
Nov 14, 2007
Messages
1,379
Location
SGF
Do NOT, under any circumstances, use a debit card online. When the inevitable happens and someone gets ahold of that card number and makes fraudulent charges, instead of being able to "let it ride" on your CC statement while it gets investigated and adjudicated, you'll be out that money from your checking account. If they wipe out your account and cause a whole mess of overdraft fees, you'll have to live with the negative balance (and have no money to spend or pay other bills) until the entire mess gets sorted out.
10.9% and 11.9% are actually both pretty decent rates and no reason to protest anything.
Great points. Plus, not only that, but under federal law, debit cards are not required to have the same level of fraud protection and liability limits as credit cards.

Many debit card issuers are offering similar protections on debit cards now, but know that they are doing this out of their own volition (for marketing purposes, likely) and not because there is a law requiring this. Take that as you will.

Do NOT, under any circumstances, use a debit card online. When the inevitable happens and someone gets ahold of that card number and makes fraudulent charges, instead of being able to "let it ride" on your CC statement while it gets investigated and adjudicated, you'll be out that money from your checking account. If they wipe out your account and cause a whole mess of overdraft fees, you'll have to live with the negative balance (and have no money to spend or pay other bills) until the entire mess gets sorted out.
10.9% and 11.9% are actually both pretty decent rates and no reason to protest anything.
I would have to concur. My card has been used fraudulently many times over the years, and I am VERY careful about where I use them online.
Several of my cards have an option for online use, in which I get an account number only good for one transaction.

I have never had an account used fraudulently. However, I have received several notices that my information may have been stolen from a vendor or bank, a much more common event and one that cannot be prevented by avoiding online merchants. After all, even if you are not online, your merchants and your bank are.
Good point, and this is an option to consider (and yes, your second point is valid, too). For the longest time, I didn't activate the "credit" portion of my debit card (offline/signature portion--the one that runs through the Visa network) in order to minimize the risk of fraudulent use while still enabling me to withdraw money at an ATM. I'm not normally a paranoid person (I have a friend who refuses to do any online banking and I can't even understand that mindset), but since I never use my debit card (preferring the rewards of my credit cards), I figured I'd prevent the small risk in the first place. I did finally activate it for use with the offline networks before traveling overseas for an extended period in the off chance that I needed to use it in an emergency. So far, no issues.

I don't use ATM cards. If I need cash, I walk into the bank and get it from a teller. That solves the debit card number theft problem.
Great option...if you have oodles of time to kill in line and work hours that enable this. I'm usually sleeping and/or rushing off to work last minute when the banks are open. My free time is when the banks are closed.

What would you do in an emergency where you needed cash late at night?

Besides, ATM card theft is not (as I've ever understood it) an issue. If someone obtains your ATM card, they still need your PIN to access the account (and I'm not aware of too many ATMs that allow thieves to manually punch in debit card numbers). It's when your debit card is set up to run through the credit networks (i.e. a Visa Check Card or MasterMoney card) that it is exposed, as thieves can then type your debit card number into any online shopping portal. Simple solution: ask your bank for an ATM-only card (PIN-only), or, when your Visa Check Card arrives, peel off the activation sticker without activating the card.

Even though my I.D., along with thousands of others, was stolen from the State of Illinois's License Department, I have never (knock on wood) had my credit card used by anyone other than myself.
You all make it sound like it's easier for someone to use my debit card than it would be for them to use my credit card???? Am I seeing this right?

Now you've got me scared. I just signed up for a debit card at one of the banks. It's a debit/credit/ATM card. Is that safer than a simple debit card?

I've never used an ATM either. Gee, and here I thought I was doing a good thing and finally coming into the computer age.
There are three types of cards in existence:

Online debit cards ("ATM cards"): Can only be used at an ATM or at a merchant that accepts PIN-based debit transactions. Card MUST be physically present for use. Most secure, since it cannot be forged, though if someone obtains both your physical card and your PIN, there is no fraud protection unless your bank has a daily withdrawal limit to sort of limit the damage that can be done.

Offline debit cards ("Visa Check Cards" or "MasterCard MasterMoney Cards"): a hybrid between ATM cards and credit cards. Can be used at an ATM or at a merchant that accepts PIN-based debit transactions as well as merchants that are set up for credit card signature-based transactions (with the exception of some types of merchants, such as car rental agencies or some hotels, who use the credit card as a risk screening measure). If a merchant obtains your physical card and PIN, there is no fraud protection if used through the PIN network, but if your card number is compromised (or your card is stolen) and used through the signature-based credit networks, you have some fraud protection as mandated by federal law and usually more fraud protection as a policy of your bank.

Credit cards: Can only be used at merchants set up for signature-based transactions (which is nowadays more common than the PIN-based transactions). Most secure in terms of legal requirements for fraud protection, and larger banks are now offering zero liability for fraudulent activity.

So, is your check card safer than a plain ATM card? Not really, since it offers two separate avenues of risk (PIN *and* signature), but the net risk is about the same (just check your bank's fraud protection and cardholder liability policies), and it's a lot more convenient for you.

You shouldn't fear using an ATM, but if you are concerned about the very, very, very few ATMs that some disreputable merchants have set up in order to capture your card information, just make it a point to always only use ATMs that have a real bank's logo on them (that is, skip the no-name ones found in gas stations).
 

the_traveler

Conductor
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Nov 14, 2007
Messages
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Location
Whatever siding I'm sitting on!
The only reason I use a debit card is that my bank PAYS ME 10¢ every time I use it as a credit card! And if I use it as a credit card 10 times a month, I get a high interest rate (4.15% :) ). So I use it for small purchases.

Just today, I had to pay for parking. My $1.00 parking cost me 90¢ :) And if I go to the grocery store and buy 1 stalk of something like kale (or such) that costs 4¢ - it "cost" me -6¢! :p (In effect, the bank pays me 6¢!)

But for anything large, I use a regular credit card - most times the AGR Master Card! (I'd rather earn 1,000 to 2,000 AGR points each month - and a free trip every year!)
 

sechs

Conductor
Joined
Aug 18, 2005
Messages
2,146
Location
ATL
What would you do in an emergency where you needed cash late at night?
What late night emergency situation could be solved by the money that I can get out of an ATM, but not either a credit card or the cash I happen to have on hand?
 

ALC Rail Writer

Conductor
Joined
Sep 15, 2008
Messages
4,690
Location
Ohio
What would you do in an emergency where you needed cash late at night?
What late night emergency situation could be solved by the money that I can get out of an ATM, but not either a credit card or the cash I happen to have on hand?
Not all of us have money in our checking accounts at any one time. My family and myself have been living paycheck to paycheck for over ten years... don't lecture, but it is the fear many Americans face. Now, unemployed, the situation is even worse.

As for an emergency, while I could hardly think of a "late night" emergency I could certainly think my car breaking down and needing a new timing belt would be a start-- some of us don't live near wonderful public transit stations you know... No car means no job searching, no job searching means no job, no job means no money which intern means the obvious.

While not a first line of defense, credit is always a way to get oneself out of danger if need be.
 

amtrakwolverine

Conductor
Joined
Mar 14, 2008
Messages
4,002
Location
Warren MI
but in my case i can't get a CC cause i don't have enough credit so i will use a debit card online weather its safe or not not all of us have a choice. i shop online all the time with the debt so i don't have a choice. i don't use checks. so i guess im a thrill seeker according to you people on here.
 
T

Tony

Guest
Do NOT, under any circumstances, use a debit card online. When the inevitable happens and someone gets ahold of that card number and makes fraudulent charges, instead of being able to "let it ride" on your CC statement while it gets investigated and adjudicated, you'll be out that money from your checking account. If they wipe out your account and cause a whole mess of overdraft fees, you'll have to live with the negative balance (and have no money to spend or pay other bills) until the entire mess gets sorted out.
Good point! All the consumer protection laws which govern credit cards (max $50 liability, don't have to pay for bad/unshipped merchandise, etc), are not applicable to debit cards. With debit cards, you are completely at the mercy of the good-will of your bank.

I just bought a big screen TV (with my AGR MC) ...
Me too! A 52" Sony XBR. :ph34r:
 

Everydaymatters

Conductor
Joined
May 15, 2006
Messages
3,236
Location
Just North of Normal, Illinois
Because I just signed up for the Debit/Credit/ATM card two days ago, I don't have it yet. Reading all this information makes me more wary and I'll be calling the bank to see if my liability is $500 in case of fraudulent use.

The girl at the bank said that if I use the credit card on it, I'll get one point for every $2, but she didn't know how much a point was worth.

This is all very new and interesting to me. I'll probably be back with more questions once the card and all the "agreement" terms arrives.
 

printman2000

Conductor
Joined
Nov 9, 2005
Messages
3,753
Location
Amarillo, Texas
Because I just signed up for the Debit/Credit/ATM card two days ago, I don't have it yet. Reading all this information makes me more wary and I'll be calling the bank to see if my liability is $500 in case of fraudulent use.
The girl at the bank said that if I use the credit card on it, I'll get one point for every $2, but she didn't know how much a point was worth.

This is all very new and interesting to me. I'll probably be back with more questions once the card and all the "agreement" terms arrives.
Basically, in most cases, if you did not use your debit card, you are not responsible for the money. You will get it back. The biggest issue to me is you lose the use of that money until the case is resolved. Not so with a credit card.
 

JayPea

Conductor
Joined
Sep 9, 2006
Messages
3,935
Location
Colfax, WA (CFX)
What would you do in an emergency where you needed cash late at night?
What late night emergency situation could be solved by the money that I can get out of an ATM, but not either a credit card or the cash I happen to have on hand?
I have had exactly that kind of situation. I was returning home from a road trip, and I ran over a metal bar in the road and punctured my gas tank. Thank goodness I was right on the edge of a town, a town that just so happened to have a junk yard, and they just so happened to have a gas tank that fit my car. It cost $300 and some change, BUT they did not take credit cards. So I used my ATM card, which had a $300 limit, and bought a candy bar at the grocery store with the ATM card and got enough change back to pay for the gas tank in full. I'd have been screwed had I not had the ATM card.
 

the_traveler

Conductor
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Nov 14, 2007
Messages
26,008
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Whatever siding I'm sitting on!
The girl at the bank said that if I use the credit card on it, I'll get one point for every $2, but she didn't know how much a point was worth.
I'm wary of those "point per $" or "point per 2$" offers - UNLESS they go right into a frequent flyer account or AGR account! Otherwise, Those "points" or "miles" can ONLY be used by that company!

Example: Capital One says "You can get a free ticket on ANY airline for 25,000 points!" That's the same (if you're lucky) that it costs on United or Delta! What they don't say is that you have to request it from Capital One and they put a low limit (like maybe $400 or $450) on the cost of the ticket that THEY buy! So if they can buy a ticket for $350, they will. But if the cheapest ticket that they can buy cost $460 (even if the plane is 3/4 empty), they will say there are no seats! And you can't combine your 21,000 "points" or "miles" from Capital One with your Continental account to upgrade either!

So a "point" is valued at the maximum that THEY will spend for a ticket - not how much you can get a ticket for. It may be something like 2¢ a "point" that THEY will spend, but I have used my AGR points for IIRC 12¢ a point!
 
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