Rachel wrote:

Cal Vanize wrote:

Rachel wrote:

Sylvain wrote:

Rachel wrote:

American Express, hands down.




I've never had a problem with anyone accepting mine.





do you travel abroad much? I got rid off my amex years
ago because of that; and in many situations/places, taking
your business elsewhere is not an option...

--Sylvain




International travel is what I use the debit card for.




"Float" has more meanings that being lighter than air or water.


Excuse me? I don't float checks and never have. What is your real issue?



My real issue? Consumer education and common sense.


Money management:

You can float purchases on credit cards until the monthly bill comes
due. Then it can be paid in full for all the previous month's purchases
even if the purchases might have been actually made over a month ago
(depending on a cardholder's "float management" and the closing date of
the billing cycle). Pay the bill in full on time and there's no
interest, monthly minimum, extra monthly fees. The banks take advantage
of those that are careless or delinquent. Pilots, by need, tend to be
very organized and should never experience this problem.

A "debit" transaction is a withdrawl from a deposit account (usually
savings or checking) and immediately pays for the transaction removing
your ability to use your money. There is absolutely no advantage to a
debit card over a cash transaction except that you don't have to carry
around cash or that you can use it on the internet (never use your PIN
on the internet).

Fraud / disputes:

In the event of fraud against your credit account, its just a matter of
disputing a transaction and its removed from your bill until the dispute
is resolved. You're not required to pay for it unless the dispute
settlement rules in favor of the merchant. It then becomes the BANK's
money involved in dispute resolution.

If there's fraud against your debit account, YOUR money is already gone
and YOU have to fight to get it back (regardless of what the
advertisements say). The dispute is over YOUR money that needs to be
REPLENISHED. You've lost control over your funds, somebody else got
their hands on YOUR money. On a PIN-based transaction verified by the
card issuer, the issuer is responsible (read "the cardholder is
liable"). There are a few exceptions, but this is generally the way it is.


That's the rules of the business (and the Fed) regardless of whether its
Visa, MasterCard, Citi, Bank of America, or Mom and Dad's State Bank and
Deluxe Chinese Buffet Catering and Vetenrary Service.