dugggg said:DavidScubadiver said:Is there an advantage ever, to choosing "debit" over "credit"?

No. Avoid using the PIN whenever possible. "Credit" transactions have three clear advantages:

1. You have more fraud/liability protection.

2. Because credit transactions usually take longer to post, you earn more interest on your money.

3. Vendors pay a higher fee for credit transactions, so SBoT gets more money. The more money SBoT gets, the longer they keep the interest rate high.

So whenever you are blindly asked, "debit or credit?", always say "credit".

However, since PIN transactions are cheaper for stores, some stores will insist you enter your PIN. That is their right.If credit takes longer thats a reason to choose debit if you are rushing to get 10 in by the end of the month. Fortunately, I'm never in a rush. And nobody can insist I enter a pin number if I've forgotten it.

dugggg said: Some stores will categorically refuse to process a debit card as a credit card. So if you really forgot your PIN, you might be out of luck! But I ALREADY ATE the candy bar... (he says sheepishly when they refuse to process his debit card without a PIN).

I can think of two more reasons why I like to use debit transactions rather than credit transactions, especially in grocery stores:

1. One less piece of paper I have to dispose of or recycle.
2. It's more convenient for me to swipe the card, enter the PIN, and finish up my end of transaction while the groceries are being rung up and bagged. I don't have to take any extra time to sign anything.

All very minor, but it adds up!

glxpass said:It's more convenient for me to swipe the card, enter the PIN, and finish up my end of transaction while the groceries are being rung up and bagged. I don't have to take any extra time to sign anything.

That's true, especially if you're trying to buy 10 limes in 10 different transactions to get your monthly total

glxpass said:I don't have to take any extra time to sign anything.

A lot of places are doing away with the need to sign for credit transactions under a certain dollar amount.

But it is true, you still get the extra piece of paper

scott1961 said:Moonsea said:Some stores don't even have the option of debit/credit, so it automatically goes through as a credit. But the only distinction on how my account labels them is payment for debit and purchase for credit.
I have found this with Starbucks, I asked if it's considered a Debit transaction and was told no. She said they do all as credit. Money comes right out of my account, Danvers Reward, So I assume it counts toward my 12. Also when I'm asked debit or credit I always say debit. I don't mind entering the pin and I don't need the extra protection on a soda or sandwichYou do debit because its faster? I thought entering PINS runs the risk of the unscrupulous cloning your card and pin whereas just using the card at least keeps them from having the pin if they cloned the card.

stfs said:DavidScubadiver said:dugggg said:DavidScubadiver said:Is there an advantage ever, to choosing "debit" over "credit"?

That is their right.If credit takes longer thats a reason to choose debit if you are rushing to get 10 in by the end of the month. Fortunately, I'm never in a rush. And nobody can insist I enter a pin number if I've forgotten it.
How much longer is a credit over debit?
Also, I'm not sure if the resolution to the other requirement of ACH debit/credit has been posted since I lost track of this thread for awhile but according to the e-mail reply, either one qualifies.Yes, either one qualifies as a purchase. Just use the card. Can't answer about the speed of things as I've never tried a debit transaction. You have a month to make the ten purchases so as long as you do it all in the first 20 days you shouldn't have a problem. Of course, they expect you to be paranoid and not to want to bother counting to precisely 10, and you will (they hope) get in the habit of using their card for all small purchases, and you will no doubt find it handy to do so to save you the hassle of counting every month for the remainder of your life).

stfs said:How much longer is a credit over debit?

DavidScubadiver's online "credit" purchase took seven calendar days to post.

I would think all PIN-based transactions would post the same day, or at worst, the next day.

stfs said:Unfortunately, the debit card took more than 3 weeks to get to me.

How many exact calendar days from the date your initial deposit was posted, did it take for your debit card to arrive?

I would like to know this precisely, because I am camping out west, and I am having someone forward my accumulated mail to me. The last thing I want, is to forward the day before the card arrives!

On the other hand, if I wait too long to do the forward, then the darn PIN expires.

stfs said:
30 calendar days, some of that probably has to to do with the labor day holiday..to be safe it's probably around 3 weeks+

Sounds like 4 weeks+ to me! Did the PIN instructions arrive a few days before, as expected?


What stores/gas stations will treat the card as debit?

Many gas stations that allow you to "pay at the pump" give you the choice of debit or credit, and allow you to enter the PIN right there, so you don't have to deal with a cashier wondering why you're making so many little purchases.

Please report back how long it takes for these debits to post.