Recently trying to make a purchase on the net I was asked for credit card details tho I said I would pay by personal cheque. I only have a debit card as I am not keen on credit cards.
Why do merchants prefer credit cards to debit cards although the former are more expensive for them? I have seen many a places (esp online) where merchants even refuse to accept the debit cards.
I understand why credit cards are better for liquid customers (who enjoy the interest free loan if they pay the bills on time), networks and the banks (they get the commission) but I fail to understand what would merchants gain accepting credit cards when they have a choice of accepting a relatively inexpensive and almost equivalent medium of payment in the form of debit cards. Anticipating higher sales doesn’t sound very convincing to me!
I am trying to start up a home business selling customized, beaded wedding glasses. Since these are special orders, I want to be able to secure payment before starting the work. How can I be able to accept credit and / or debit cards?
I heard from a friend that it is possible to get a credit card that basically mimics your debit card and thus allows you to use your maestro debit card where only credt cards are accepted (ie online). It would make my life much easier if I only ever used a debit card, but for some purchases online this is just not possible. I don’t want to get a prepaid credit card and wondered if this was a possible solution.
Thanks in advance for any suggestions
I recently got a debit card in Bank of America.
They said the money comes right out of my checking account, BUT I can use MORE than I have, I’d just have to pay a fee of $35 every time I do that.
Does this sound normal?
Also, please tell me the pros and cons of credit AND debit cards.
Which ONE would you prefer over the other if you had to choose?
Thanks!
When I use my debit card at the store, it asks if I want like $0, $10, or $20 cashback. How does cashback work? And how would this cash back procedure work on a credit card?
Should I take a cashback amount when using my debit card? I see other people in line in front of me using their cards and when ask if they want cash back, some of them press no on the key pad.