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In article Fuspd.85361$V41.50473@attbi_s52,
Here's another credit card mystery: Why the hell does ANYONE use any card but Discover? Everyone else charges to use their cards, while Discover actually PAYS you to use their card -- yet they are a distant third or fourth in the industry. Marketing is everything to American consumers, I guess... Well in my case I don't have a 'real' credit card. I have a debit visa (work just the same). I keep most of my spendable money in checking then use the Visa the same as cash. If I can't afford something then I don't buy it. I've thought about getting a real credit card (just in case) and if I did so it would most likely be through my credit union (because it's just easier). _IF_ I was forced to use a real credit card I would pay it off in less than 60 days (to avoid the interest). I had a real credit card for about 7yrs, but always paid it off. When debit visa came out I cancelled it. The thing about Discover is that it's not accepted everywhere I go, so I can't use it the same as cash as I can a debit visa. |
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Well in my case I don't have a 'real' credit card. I have a debit visa
(work just the same). I keep most of my spendable money in checking then use the Visa the same as cash. If I can't afford something then I don't buy it. It does NOT work the same. a) Don't try renting a car. And don't try using to reserve a hotel suite. Most debit cards (unless it's a "dual" debit/credit card) will not work with a preauthorization -- which is what is required to make a guaranteed reservation. -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
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In article Ctcqd.474453$D%.367363@attbi_s51,
"Jay Honeck" wrote: And don't try using to reserve a hotel suite. Most debit cards (unless it's a "dual" debit/credit card) will not work with a preauthorization -- which is what is required to make a guaranteed reservation. :-( Then I won't be able to make a reservation for business travel at your hotel. -- Bob Noel |
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:-( Then I won't be able to make a reservation for business travel at
your hotel. Or anywhere else, for that matter. I don't know of a single hotel (or even small B&B in our market) that doesn't pre-authorize guaranteed reservations on a credit card. It's the only way a hotel has of protecting itself against bogus reservations and no-shows. We can always do a "contingency" reservation without a card, but it's not guaranteed. -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
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In article Tsdqd.405505$wV.131490@attbi_s54,
"Jay Honeck" wrote: :-( Then I won't be able to make a reservation for business travel at your hotel. Or anywhere else, for that matter. Jay: I have a Diners Club card which I've been using the early 90's for business travel. I don't know of a single hotel (or even small B&B in our market) that doesn't pre-authorize guaranteed reservations on a credit card. right. But your hotel is the only one that I've heard of that doesn't take American Express or Diners. I don't have a Visa card (just a debit card) -- Bob Noel |
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Jay Honeck wrote:
:-( Then I won't be able to make a reservation for business travel at your hotel. Or anywhere else, for that matter. I don't know of a single hotel (or even small B&B in our market) that doesn't pre-authorize guaranteed reservations on a credit card. It's the only way a hotel has of protecting itself against bogus reservations and no-shows. From what you wrote earlier, it doesn't sound like the CC even gives you protection from no-shows, so why bother? Matt |
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Jay Honeck wrote:
Well in my case I don't have a 'real' credit card. I have a debit visa (work just the same). I keep most of my spendable money in checking then use the Visa the same as cash. If I can't afford something then I don't buy it. It does NOT work the same. a) Don't try renting a car. And don't try using to reserve a hotel suite. Most debit cards (unless it's a "dual" debit/credit card) will not work with a preauthorization -- which is what is required to make a guaranteed reservation. Offline debit cards (that is when cards are used without the PIN, i.e. transactions that use the Visa or Mastercard brand network) do support preauthorization. That's a Visa/MC requirement. When the card is charged at the merchant, the amount of sale is preauthorized instantly. On a regular credit card, this just instantly lowers the current available credit amount by the same amount. But on an offline debit card is used, it puts a hold on the funds in the bank account. That means that this amount is unavailable to withdraw, have checks drawn on, etc. even though the money is still in the account as long as the hold exists. This is how Visa/MC guarantees that the money will be available when the charge posts (usually 2-3 days out). The hold goes away when the charge posts (e.g. actual transaction amount is charged to the account) or else it times out (1-2 weeks) if no charge actually posts. Sometimes a preauthorized hold is put on the card without an actual transaction amount known yet just to make sure there will be enough funds available. Examples are pay-at-the-gas-pump transactions (usually $50 is preauthorized before you start pumping), restaurants where an extra amount is pre-authorized in expectation of a tip, hotels (where they preauthorize for guaranteed reservations to make sure the card is valid, and also when you check in to preauthorize some amount for the expected stay and possible incidentals), rental car places etc. Also AOPA preauthorized $1 every six months or so if you have auto-renewal to make sure the card is active. You'll never see that $1 on your statement because they never post the charge. It's important to understand that just because an amount is preauthorized does not necessarily mean that it will post to your account. However it will tie up that amount, either in credit line for a credit card or actual bank funds for a debit card. That is another big disadvantage to using debit cards, especially if it causes you to bounce checks even though there is bank physically in the account but it is effectively locked until the hold expires. By the way, MBNA actually shows you preauthorized charge amounts AND who is making the charge online. Most other credit issuers do not, although you can usually see how much is pre-authorized (held) by taking your credit limit, subtracting known charges and balances, and observing any discrepancy between that difference and the current available credit. (Rounded to the nearest dollar). An "online debit" transaction requires a PIN and uses the ATM/POS networks. Money is debited instantly and there is no preauthorizing then posting later. I think cards that only suport online debit (e.g. no mastercard or visa logo) are much better since if somebody steals it they can't do squat without the PIN. That no-fraud guarantee on MC/Visa debits is nice, but it doesn't help you right away while your checking account's been cleaned out, your checks are bouncing, and your card won't work. Sorry for you if you have automatic overdraft protection from savings too. |
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![]() "Janet" wrote snip a bunch of stuff so I can bitch about somethingg Sometimes a preauthorized hold is put on the card without an actual transaction amount known yet just to make sure there will be enough funds available. Examples are pay-at-the-gas-pump transactions (usually $50 is preauthorized before you start pumping), What is that all about? $50 for gas on a card? That does not even come close for me. My full size work van has a tank that will hold 31.6 gallons of gas, and still be running. With gas at times up to $1.89, I have to let the pump shut off, and then have to start up another charge to finish filling up. Let's get real here, gas station owners of America!Thanks, I feel better now. Required aviation content: I drove that van up to OSH this year, and it would have been cheaper to charter a plane, after buying the gas and a new transmission. (well, almost) :-) -- Jim in NC |
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