# Rate Increases



## Everydaymatters (Jun 1, 2009)

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?


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## the_traveler (Jun 1, 2009)

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!


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## Ryan (Jun 1, 2009)

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.


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## Rail Freak (Jun 1, 2009)

HokieNav said:


> 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!!!


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## Ryan (Jun 1, 2009)

Exactly - let the credit card companies take on that risk for you.


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## printman2000 (Jun 1, 2009)

HokieNav said:


> 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.


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## Alice (Jun 1, 2009)

printman2000 said:


> HokieNav said:
> 
> 
> > 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.
> ...


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.


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## amtrakwolverine (Jun 1, 2009)

Everydaymatters said:


> 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.
> ...


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.


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## Trogdor (Jun 1, 2009)

HokieNav said:


> 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.


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## sechs (Jun 1, 2009)

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.


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## ALC Rail Writer (Jun 2, 2009)

HokieNav said:


> 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%!


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## sky12065 (Jun 2, 2009)

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!


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## Everydaymatters (Jun 2, 2009)

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.


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## Ispolkom (Jun 2, 2009)

Everydaymatters said:


> 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.


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## jackal (Jun 2, 2009)

HokieNav said:


> 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.



Alice said:


> printman2000 said:
> 
> 
> > HokieNav said:
> ...


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.



sechs said:


> 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.



Everydaymatters said:


> 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?
> ...


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).


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## the_traveler (Jun 2, 2009)

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¢*!  (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!)


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## sechs (Jun 3, 2009)

jackal said:


> 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?


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## ALC Rail Writer (Jun 3, 2009)

sechs said:


> jackal said:
> 
> 
> > What would you do in an emergency where you needed cash late at night?
> ...


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.


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## amtrakwolverine (Jun 3, 2009)

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.


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## Tony (Jun 3, 2009)

HokieNav said:


> 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.



the_traveler said:


> I just bought a big screen TV (with my AGR MC) ...


Me too! A 52" Sony XBR. h34r:


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## Everydaymatters (Jun 3, 2009)

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.


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## printman2000 (Jun 3, 2009)

Everydaymatters said:


> 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.


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## JayPea (Jun 3, 2009)

sechs said:


> jackal said:
> 
> 
> > What would you do in an emergency where you needed cash late at night?
> ...


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.


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## the_traveler (Jun 3, 2009)

Everydaymatters said:


> 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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## the_traveler (Jun 3, 2009)

Tony said:


> the_traveler said:
> 
> 
> > I just bought a big screen TV (with my AGR MC) ...
> ...


I only got a "small" 50" Pioneer for my bedroom!  *BUT* I use it for both my TV *AND* as a computer monitor! Boy do railroad DVD's and AU postings look *GREAT* on it!


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## ALC Rail Writer (Jun 3, 2009)

the_traveler said:


> Everydaymatters said:
> 
> 
> > 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 happen to like my Chase debit rewards program. I get 4 for every dollar, have to pay a $25 fee, which seems odd-- but as long as you spend $200 a month using it as a credit card you get your money's worth. I go through way more than that.

You can use your points to "buy" things off an online catalogue. It's actually kind of nice-- no AGR points, but whatever. My credit isn't good enough to get any of the AGR cards...

As for being wary of ATM/Debit cards... Christ, you're worried about fear mongering. You just have to not be stupid. Of course you don't use it online... you should NEVER put any data about your banks and such online unless you're using your bank's online banking site and then, only if it is secure.

Fact of the matter is millions of Americans swipe debit cards every day, more than once per day, and 99.99% of them never have, and never will have a problem. Those that do are ones who have managed to give away more than that piece of plastic they've usually managed to give away their PIN or other account info which compromises them.

MOST of the time when a debit card is stolen all the thief has is the plastic. Sure he can drain your account, but only by using it as a CREDIT card in functionality because he doesn't have your PIN. IF that is the case then you are protected by federal law against unauthorized charges. If he has both plastic and PIN... then you're screwed. But think-- under what circumstance would a thief have access to your card info and your PIN? It happens... rarely. Getting BOTH of those pieces takes a lot of work, that is, unless you're stupid about where and how you store your data and use your card.


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## AlanB (Jun 3, 2009)

ALC_Rail_Writer said:


> MOST of the time when a debit card is stolen all the thief has is the plastic. Sure he can drain your account, but only by using it as a CREDIT card in functionality because he doesn't have your PIN. IF that is the case then you are protected by federal law against unauthorized charges. If he has both plastic and PIN... then you're screwed. But think-- under what circumstance would a thief have access to your card info and your PIN? It happens... rarely. Getting BOTH of those pieces takes a lot of work, that is, unless you're stupid about where and how you store your data and use your card.


Actually it happens far more often than you think, and in many cases the thief doesn't even have the actual "original" card. They'll put a skimmer on an ATM to capture the info from the card and either mount a small camera over the ATM or watch from across the way to see what you type in.

Then they go make a card with your info, put it into an ATM and type in your pin, and withdraw your money.

Which is why one should always try to use bank ATM's, and ATM's that are inside the bank, not on the outside of the bank. As well as taking great care to cover up the keypad with your other hand and positioning your body in front and as close as you can to the keypad.


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## PetalumaLoco (Jun 3, 2009)

AlanB said:


> Actually it happens far more often than you think, and in many cases the thief doesn't even have the actual "original" card. They'll put a skimmer on an ATM to capture the info from the card and either mount a small camera over the ATM or watch from across the way to see what you type in.
> Then they go make a card with your info, put it into an ATM and type in your pin, and withdraw your money.
> 
> Which is why one should always try to use bank ATM's, and ATM's that are inside the bank, not on the outside of the bank. As well as taking great care to cover up the keypad with your other hand and positioning your body in front and as close as you can to the keypad.


Happened to a friend of mine on a driving vacation. Stopped at a gas station, used his ATM/debit card at the pump. Next day tries to make a withdrawal and 'poof' money's all gone. :angry:

I've heard not to use ATM/debit cards at pumps, high risk of the above. h34r:


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## Everydaymatters (Jun 4, 2009)

What? Are you all advising me to never use it as a Debit card for on-line purchases? That was my intention when I signed up for it. ?????????????


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## Ryan (Jun 4, 2009)

Everydaymatters said:


> What? Are you all advising me to never use it as a Debit card for on-line purchases? That was my intention when I signed up for it. ?????????????


I've never seen anywhere that allows you to use your debit card as a debit card online (entering your PIN). Everywhere online will treat your debit card as a credit card, and when someone gets ahold of that number and rings up a bunch of fraudulent charges you're going to have none of the protection that having an actual credit card provide.


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## printman2000 (Jun 4, 2009)

Everydaymatters said:


> What? Are you all advising me to never use it as a Debit card for on-line purchases? That was my intention when I signed up for it. ?????????????


Me personally, I would not. As I said before, if someone steals your info, you are most likely going to get your money back. However, since the money comes out of your account as soon as it is used, that means you will not have whatever money was stolen until it is straightened out.

So yes, my advice is to use a credit card, not a debit card for online purchases. But that is just my humble advice.

Personally, I would use a credit card for everything, and pay it off.


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## ALC Rail Writer (Jun 4, 2009)

I'll tempt 'fate'... -_-


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## Joel N. Weber II (Jun 4, 2009)

AlanB said:


> As well as taking great care to cover up the keypad with your other hand and positioning your body in front and as close as you can to the keypad.


I find it very annoying that newer ATMs have larger keypads that make this more difficult.


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## sechs (Jun 5, 2009)

KISS_ALIVE said:


> but in my case i can't get a CC cause i don't have enough credit


The problem is that you can't get credit without credit. Which is why the secured credit card was invented.


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## Upstate (Jun 5, 2009)

Joel N. Weber II said:


> AlanB said:
> 
> 
> > As well as taking great care to cover up the keypad with your other hand and positioning your body in front and as close as you can to the keypad.
> ...


I just lay my palm on the keypad and use pressure from different fingers instead on poking every button with an outstretched index finger.


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## Trogdor (Jun 6, 2009)

Upstate said:


> Joel N. Weber II said:
> 
> 
> > AlanB said:
> ...


I cover the keypad with one hand and feel the keys with my other to enter my PIN...which is why Citibank's touch-screen ATMs annoyed the living hell out of me. Thankfully, those were recently replaced with ATMs that have keypads for the PIN.


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## amtrakwolverine (Jun 9, 2009)

sechs said:


> KISS_ALIVE said:
> 
> 
> > but in my case i can't get a CC cause i don't have enough credit
> ...


and just how do i get one. i tried applying for the AGR mastercard and they said i didn't have enough credit.


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## the_traveler (Jun 9, 2009)

For one thing, you might want to start with a local bank and get their credit card (even a secured credit card), make small charges and pay them off in full every month. Do this month after month.

In no time, they will determine you are good enough for an AGR credit card!


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## ALC Rail Writer (Jun 9, 2009)

I'm not good enough I suppose. Been there, done that.


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## amtrakwolverine (Jun 9, 2009)

the_traveler said:


> For one thing, you might want to start with a local bank and get their credit card (even a secured credit card), make small charges and pay them off in full every month. Do this month after month.
> In no time, they will determine you are good enough for an AGR credit card!


so one of these https://www.huntington.com/pas/HNB1500.htm

and even if i have no credit i can still get one.


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## GG-1 (Jun 9, 2009)

KISS_ALIVE said:


> the_traveler said:
> 
> 
> > For one thing, you might want to start with a local bank and get their credit card (even a secured credit card), make small charges and pay them off in full every month. Do this month after month.
> ...


Aloha

I have no clue to the reputation of the link company, But I would suggest you approach one of the local banks in your area. Explain to the Credit manager What you want. Set up two accounts there, One a Small Credit line account, and one a Checking account with an automatic payment arrangement to the credit account. Then be sure that every time you use the credit account on the same day deposit the amount of the charge to the checking account. You will be surprised how fast you build standing.


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## jackal (Jun 11, 2009)

KISS_ALIVE said:


> the_traveler said:
> 
> 
> > For one thing, you might want to start with a local bank and get their credit card (even a secured credit card), make small charges and pay them off in full every month. Do this month after month.
> ...


I don't see a secured card at that link. I've also never heard of Huntington Bank, so like Eric, I can't attest to the quality of that product.

Here is a sample secured card from Bank of America. They have a good summary of what a secured card is:

http://www1.bankofamerica.com/creditcards/...p;router_flag=y



> You deposit anywhere from $300 up to $10,000 into a Bank of America security deposit account. Your credit line will directly reflect the amount of your deposit....
> 
> Based on your credit and payment history with your secured card, you may qualify for an unsecured card at a later date.


Also check out Bankrate.com's 10 questions before getting a secured credit card:

http://www.bankrate.com/finance/credit-car...dit-card-1.aspx

For people new to credit, the only ways I can think of to build credit are the following:


Secured credit cards

Get someone with good credit to co-sign on a loan or card in your name (the other person REALLY has to trust you, though, since you can hurt their credit score if you default!)

Some banks have entry-level student credit cards for full-time college students

Some banks may have extremely low-limit, high-interest rate, high-fee cards for beginners (basically, they figure they'll make back any risk they expose themselves to in the form of finance charges and fees)

I did it the first way: when I turned 18, I went to the bank I'd had a checking account with since I was 14, transferred $500 into a savings account, and got a secured card with a $500 limit and used it for everything (paying it off literally every day--easy enough with online bank transfers). Six months later, I applied for an entry-level, low-limit Capitol One card and used that for about another six months or so, at which point I applied for and got an Alaska Airlines classic Visa card, which I then upgraded to Platinum and finally the Signature card. I had Alaska's top-tier credit card by age 21 (I had gotten the original classic Alaska card by age 19). So it's possible if you work the system correctly! (Just make sure you keep using credit responsibly...never charge more than you can pay off [preferably every few days!].)


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## AAARGH! (Jun 11, 2009)

> I don't see a secured card at that link. I've also never heard of Huntington Bank, so like Eric, I can't attest to the quality of that product.


Huntington is a mid-size regional bank in the midwest. It has a good reputation.

But for my money, National City (now a part of PNC) is a better bank. But of course I work for them, so I would think that.


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## ALC Rail Writer (Jun 11, 2009)

I am a Huntington customer and have never had a problem. Their small size sometimes leads to better customer service than some of the bigger banks my friends and family have.

However I hold my primary accounts with Chase. I have found their service is always professional, and timely. They clearly state your rights as a customer and they offer a lot of customer support in understanding laws and regulations with use of their checking, savings, and credit accounts.


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## Bigval109 (Jul 14, 2009)

printman2000 said:


> HokieNav said:
> 
> 
> > 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.
> ...


I had a simular problem when ever I used my credit card on EBay a couple of days later it was hacked. This happened 3 times. I tried to inform Ebay but they were not interested. So I just don't buy from them anymore.


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