Cash/Check/Credit/Debit
 

What was the last thing you bought using each on these payment methods, and when?

cash: three days ago, tickets for ice cream social at school
check: coupls of weeks ago, swim team fees for kids and pool rental
credit: today, groceries
debit: couple of weeks ago, groceries, used debit to get cash back

Cash: lunch on Friday ... fried eggs, tomatoes, mushrooms on toast, with coffee and juice.
Cheque (shame on you Monnie, going native): hahahahaha
Credit: autopayment for communications bill.
debit: carpet for living room floor, 6 weeks ago.

Cash: a couple new pens for class; last week.
Check: RITA payment of a whopping $3.14; weeks ago.
Credit: new paintball stuff Tippmann A-5, stock, trigger, barrel, camo pants, etc. etc.; last week.
Debit: dinner at local Mexican restaurant; last night.

cash: group lunch for admin assistant on Friday
check: cleaning ladies last Wednesday
credit: lunch today
debit: ??? it's been years, I think. What with the cash back on my Amex, I don't bother.

Cash: ice cream at the little dairy bar on main street, Friday.
Check: paid $20 on daughter's school lunch account, which conveniently ran out 4 days before the end of the school year (it carries over, of course).
Credit: some groceries--I use my "cash back" credit card and pay off every month.
Debit: $200 withdrawal from ATM last weekend; I have about $25 left.

Checks if it's mailed.
Cash for everything else.

Cheque: I'm not allowed them
Credit: I'm not allowed it
Debit: I'm not allowed it
Cash: this morning at the supermarket

:o

Was up at 03.42 (bad night) and at 05.00 went to check the cashpoint to see if my benefit was through. It was. So went to the supermarket at 07.30 (when the buses started running). Essentials only* I just wanted to be in a warm light place with other people.

*Fizzy water IS an essential as it keeps me from drinking. As I get through 2 x 2litre bottles a day it's just as well it's only 12p!

Cheque: Not that popular over here anymore, except for the *cockies* (farmers) or business owners. I havent had cheques for years.

Credit: I've just consolidated my credit card debit, gone from 12k on 3 cards to 1 card with 6k limit and 0 balance at the moment. :) I use my plastic daily though and basically just pay my wages off it each week. The reward points are great.

Debit: an ATM card? I use this daily, small purchases, cash withdrawals.

Cash: Daily coffee, lunch on days that I dont take it, today to buy Ice Creams.

Hmmm...

Cash: the shop yesterday to buy cigarettes and toilet paper
Cheque: haven't used cheques in years
Credit Card: cut up my credit cards several years ago, am still paying off the balance.
Debit Card: yesterday, bought a download of 'The Eight Truths', which is a Big Finish Doctor Who audio play :P

Cash: Yesterday at CVS to buy a father's day card and an updated road atlas of the area to replace my 20 year old one.
Check: Not in several years, my wife writes the checks to pay the bills.
Credit: Last week, buying gas.
Debit: I have never used a debit card. Except I think my ATM card is also a debit card, and I use that once or twice a month to get cash from my bank. I got cash last week.

Cash - Coffee, yesterday
Check - Paid for Dennis, last year, was annoyed breeder didn't take credit...
Credit - Can't remember...
Debit - Groceries, last thursday

Cash: pint of nonfat milk and four pints of water (I get dehydrated playing out)
Check: rare, but repair people like them... repair of air conditioning for the house
Credit: salads for everybody! and they forgot to make it debit so I signed.
Debit: fuel-up at the Wawa (for you non philly people, it is the finest convenience store chain on the planet)

Cash: No idea. I did use it a couple of months ago to give change to some dude who came to buy things I posted on craigslist.
Check: monthly bills
Credit: grocery store this morning--we put absolutely everything on the cards and pay them off each month.
Debit: Never. No one gets permission to take money directly out of my bank account. If there's a mistake, it's my problem to get my money back. If there's a mistake on the credit card, it's their problem to make me pay it.

Oh...by debit did you mean Direct Debit mandates? Cause if so I have about £150 a month assorted DDs. I assumed you meant debit card.

Cash: ice cream at a fast food place after taking the pups to the vet so they each got a little bit, then we ate the rest
Check: water bill (they can't do e-pay or auto debit :right: )
Credit: this morning for online purchase - LED flashlights for an upcoming camping trip
Debit: groceries a week ago, to get some cash back

yeah, i meant debit card

What about other forms of payment??

Cashier's Check: mortgage
Paypal: a part to try to repair the dryer
Barter: bottles, one type of beer for another type of beer

Just happened, update Debit: Cellar monthly colo bill

I assumed debit didn't include ATM withdrawals; I do those about once a month. I'm down to my last $8, so I probably should head over there sometime this week.

The cafeteria here at work takes credit cards, and doesn't ask us to sign the slip so it's ultra-convenient. I've taken to carrying my Amex in my pocket instead of my wallet. Sure, I've got a kajillion $2.28 charges every month -- but hey, it's 3% back baby!

Debit here is a big thing.
The majority of people use it every day, rather than draw cash from a cashpoint (ATM) or face credit card charges.

My parents, for example, use debit for 90% of their transactions. There is almost always something they need or Grandad needs on a daily basis, so it goes via debit. It's the same as cash after all, just less worrying than carrying cash for a 69 year old (Dad). Also they have records in case anyone queries Grandad's income and expenditure.

I don't think I've ever used a cashier's check..... maybe for the deposit on the house?

Paypal, prolly the tip jar

barter: I'm married, need I say more? :p

Western Union - once, to pay the mortgage, expensive and shitty
Electronic check - many bills, in fact it was hard convincing Verizon to stop!
Money order - not used

That's what I was thinking too--I don't do debit cards either. It's just as easy to steal a debit card number as it is a credit card number, IMHO. The difference is with one they take the credit card's money and I'm not liable. The other, they take my money, gone gone gone, then I may or may not be able to get it back.

Check: Rent
Cash: Tip for girl at the buffet Saturday.
Debt: Dinner at buffet.
Credit card: Don't even have one.

There's a $50 limit on your liability if your debit card or its number is lost or stolen.

I pretty much live on my debit card. I rarely carry actual cash, beyond a few quid for bus fares and a coffee. I don't use credit cards any more. And there's onyl a charge on using debit cards if the purchase is less than £6.50 and then it's only .30p.

cash: bread at the bakery on the weekend
cheque: don't have a cheque book
credit: daryl's birthday present
debit: can't recall

We mostly use our credit card for everything and just pay it off at the end of the month. The main way I use my debit card is when I transfer money to it to withdraw cash to pay for things like bread and milk, or tuckshop for the kids. We rarely write cheques either, especially not for personal expenses, but occassionally for business purposes, and then of course it's a business cheque, so doesn't count for this purpose I don't think.

Cash: SoBe's and Cheetos for kidlet on the way home from work today.
Check: Electric bill yesterday
Credit: Don't own credit cards-bought car on credit nearly 2 years ago though
Debit: (This used like VISA but immediately withdrawn from account?) If so, all the time!! Ok, yesterday at the grocery store.

Cash: put money on my school account today (used in pop machines and cafe)
Check: electric bill, last Thursday
Credit: yesterday...rollerblades :) (I don't use credit much, and pay it off or close to off each month...rebuilding credit rating
Debit: Never had a debit card

Cash: Coffee every morning
Check: electric bill - Fookers want to charge me $10 to make a phone payment. :headshake
Credit: Last Thursday - Cell phone bill & large purchases only (free points.) I'd use it all the time, but I'm just uncomfortable having a balance more than $500. It all comes out of the same account anyway and it saves me interest to use my debit. They are both "insured" As UT said I'm only liable for the first $50.
Debit: Weekly food at the supermarket Saturday

cash: truck stop scale fee
check: um....set up my Direct Deposit in October (again!)
credit: paid em off years ago and don't have one but will eventually to increase credit limit
debit: my friend, I use it all the time for cash or small purchases

NOTE: If you use credit cards, you should NOT pay them off each month...carry a balance, even a small one. If you don't, the credit report shows you as carrying the maximum charge and not paying on it. Show steady use, not too much, not too little, carry a small balance and keep the payments up. That way if you suddenly need, oh, a car, you look better on paper.

That's counter to everything I've ever heard anyone state ever.

Um, no. Urban myth built up by the card companies.

I think he's right though.

that is, it's BS about carrying a balance being good.

If you pay off everymonth you do not get shown up as "carrying maximum balance -that's BS. But if you have huge credit limits, that can stop you getting credit even if your score ids good, because you have the potential to have a huge balance. Whether your cards are maxed out, have a small balance or are paid off has no bearing on this. If you want to be prepared in case you suddenly need a new line of credit, make sure your credit limits are not too far above what you actually need. credit card companies will often raise them with the minimum of notification. You can request that they be reduced. our primary CC once got up to about 20K limit :rolleyes: if we had ever got close to half of that we'd've been in deep doodoo.

no, he isn't. he's right that paying off your full balance every month doesn't mean it'll be easy to get a loan, but keeping a small balance is no different. it's all about potential balance. if you have the potential to max out your cards to half your salary and have a mortgage, no-one is going to give you an additional 20K line of credit even if you pay off all your cards every month and your mortgage on time.

When you go to get a loan, they assume you're using the whole limit of your card, so it goes toward your total amount of prior debt.

whether you pay it off or keep a small amount carry over, it makes no difference (eta: to your credit rating) if you're never late with your payments.

keeping a small balance shouldn't be a problem either, as long as it is small, but remember that if you never reduce it, it looks like your income is maxed out and you don't have room for any more payments, regardless of what your income/potential credit ratio is. also, you are pating interest for no good reason. you pay off your card every month -no fees, no interest.

omg ali, is that twice in a week? :lol:

In fact, even if you never pay it off and keep it close to its limit, as long as you make your minimum monthly payment it wont affect your credit rating one little bit.

Finance companies want to see evidence of your ability to make payments. They want to see major purchases paid for over time (carrying a balance), not just using your credit card like a cash/debit card and paying it off every month.

That's what Jim told me anyway...

I know. Wonders will obviously never cease. ;)

yebbut that's not credit cards (per se, although most of these types of things these days like to give you one just in case you want to owe them more.....). that's like getting new windows in your house, taking the credit option and paying it off. they do not see what you actually bought with your credit card.

Of course, but as far as CC's go, as long as you don't miss your payments you still look good on paper, if your total amount of debt isn't higher than what the finance company deems to be payable/affordable.

Everything you ever wanted to know about credit, credit scoring and ratings - MyFico.com

I pay for a membership and have credit improvement goals (which do not involve revolving credit just yet). Great site and advice....


ps...paying it all off every month is not good (for your rating), nor is closing out an accounts or two if you think you're overextended. :headshake

one thing to note.....

many of these stories about how to get a good credit rating are told by people who have fucked up and are not yet totally fixed. It's like a religion. You have to have faith and you will get to heaven, even if it seems illogical sometimes. Unlike advice on fixing broken relationships, it's probably better to turn to the people who do have good credit scores and ask them what they do. Finance companies are not necessarily to be trusted as advisors, either. duh. You think they're really going to tell you how to fool them?

and there, while I was typing, stormie proves my point. You pay for membership to a site that gives you tips on how to improve your credit rating? :eek:

We pay ours off every month and have done forever and have a great credit rating. debunked.

Yeah...our credit rating is great and we pay ours off every month too.

So Stormie -sorry to seem to be picking on you but you're currently my most real example- would you pay membership to this site if their advice was to pay off as much as you can and reduce your credit limits where possible? And that was it?

my understanding of credit ratings after having worked in the banking sector (admittedly quite a few years ago) is that your actual rating is only affected by black marks when you miss payments, and even then, it's normally a manual process for a company to 'report' your default. Also, it's possible at times to negotiate with companies you've defaulted with to have those defaults removed from your rating.

Right. and it's that rating coupled with your potential balance (i.e. what you could owe if you maxed out everything tomorrow) that determine whether you can get a new loan or not.

exactly

If you pay for debt counselling/credit record advice, is it in their interests to help you get out of debt/improve the situation quickly and efficiently? or just slowly enough that you can see progress so you think it's working? i bet they offer a "maintenance program" once you're finally clear of debt and your rating is OK.

oooh it's the ali and monster show....who'd'a thunk it :lol:

I think that question should go in the navel gazing forum. lol

poor old stormie, I'm sorry, I'm really not picking on you, you just popped up right in the middle of me letting off steam....

What are you all steamed up about?

people with bad credit records dispensing bad credit advice....

lol...is something that doesn't affect you really worth getting steamed up about though?

no, that's why I like to let off a little (guffaw)

(is "let off" just a brit euphemism?)