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Old 12-20-2020, 06:52 PM   #161
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Originally Posted by carty1 View Post
Not true. Many banks issue debit cards to be used at ATM's. You don't want to use your credit card for an ATM withdrawal.
I have an ATM card that only allows withdrawals from the ATM machine--it is not a debit card, it is just an ATM card. I don't want a debit card.
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Old 12-20-2020, 06:55 PM   #162
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Originally Posted by harllee View Post
I have an ATM card that only allows withdrawals from the ATM machine--it is not a debit card, it is just an ATM card. I don't want a debit card.
My credit union is doing away with ATM only cards. I think many other credit unions and banks are to.
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Old 12-20-2020, 06:56 PM   #163
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Originally Posted by OldShooter View Post
IMHO if I worried about all the negative events with this low level of risk I would never leave the house. So, yes. I feel that I am lucky enough that I don't worry in the least about carrying or using a debit card with a fraud protection guarantee.
You are quite correct. We all need to assess the risks we are willing to take, and then act accordingly.
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Old 12-20-2020, 07:07 PM   #164
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My credit union is doing away with ATM only cards. I think many other credit unions and banks are to.
I am glad my bank is not doing away with them, I don't understand why they would do that. If they do I will just move my business elsewhere.
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Old 12-21-2020, 06:32 AM   #165
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You can stop using your debit card, but don’t get rid of it. I primarily use one credit card and have kept two in the drawer for 10-15 years as back ups. My credit history is perfect and nothing changed with my financial situation, but this year the banks behind my two back up cards suddenly decided to cancel them with no notice to me, thereby reducing my available credit by $150k. The point is, even if you do everything right, you’re at the whim of the banks with credit cards, but I suspect this kind of surprise wouldn’t happen with a debit card since it’s not extending credit to you and therefore wouldn’t be a liability on a bank’s balance sheet.
This was more common about 10 years ago, in the wake of the 2009-2010 financial meltdown. I had two CCs canceled by banks (due to inactivity). I hadn't used them in years, so it had no effect on me. I still have my main card and a back-up card (which I use just often enough to keep the account open), the latter I don't carry around with me. My DC acts as the back-up card I carry with me, in case something goes wrong with my CC while I am out.
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Old 12-21-2020, 06:40 AM   #166
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Originally Posted by harllee View Post
I have an ATM card that only allows withdrawals from the ATM machine--it is not a debit card, it is just an ATM card. I don't want a debit card.
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Originally Posted by FANOFJESUS View Post
My credit union is doing away with ATM only cards. I think many other credit unions and banks are to.
That's the impression they give, but in the fine print, you'll see you can still ask for an ATM-only card, in most cases.

My C.U. pressured me for a decade to get rid of my ATM card and replace it with a debit. I declined their offer. I still have an ATM card which was just recently renewed.

Remember: debit cards are good for the banking institution. 1) They get a hidden kickback on each transaction, just like a credit card and 2) The money is out of your account pronto so they don't have to pay interest.
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Old 12-21-2020, 09:42 AM   #167
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That's the impression they give, but in the fine print, you'll see you can still ask for an ATM-only card, in most cases.

My C.U. pressured me for a decade to get rid of my ATM card and replace it with a debit. I declined their offer. I still have an ATM card which was just recently renewed.

Remember: debit cards are good for the banking institution. 1) They get a hidden kickback on each transaction, just like a credit card and 2) The money is out of your account pronto so they don't have to pay interest.
True. I have a debit card. The one thing I do to make it safe it put my money in the saving account not checking. The card only pulls from checking using the numbers on it. Peace of mind if I lose it.
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Old 12-21-2020, 10:05 AM   #168
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I am glad my bank is not doing away with them, I don't understand why they would do that. If they do I will just move my business elsewhere.
You will find a smaller and smaller pool of banks and credit unions to which to move your business. I have run into this issue too. The work around I have come to is having a debit card that is connected to the Visa network (because I had no choice, there was no ATM only card available) but setting the point of sale limit at $.01 so that the card cannot be used for purchases.
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Old 12-21-2020, 10:49 AM   #169
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You will find a smaller and smaller pool of banks and credit unions to which to move your business. I have run into this issue too. The work around I have come to is having a debit card that is connected to the Visa network (because I had no choice, there was no ATM only card available) but setting the point of sale limit at $.01 so that the card cannot be used for purchases.
No problem so far-- I have a bank account and a credit union account and have ATM only cards with both.
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Old 12-21-2020, 11:51 AM   #170
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Originally Posted by RenoJay View Post
You can stop using your debit card, but don’t get rid of it. I primarily use one credit card and have kept two in the drawer for 10-15 years as back ups. My credit history is perfect and nothing changed with my financial situation, but this year the banks behind my two back up cards suddenly decided to cancel them with no notice to me, thereby reducing my available credit by $150k. The point is, even if you do everything right, you’re at the whim of the banks with credit cards, but I suspect this kind of surprise wouldn’t happen with a debit card since it’s not extending credit to you and therefore wouldn’t be a liability on a bank’s balance sheet.
I charge one thing each year on each of my backup credit cards, just to keep them active so the bank won't cancel them.
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Old 12-21-2020, 03:45 PM   #171
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I charge one thing each year on each of my backup credit cards, just to keep them active so the bank won't cancel them.
This is what I do with my one back-up credit card. It's a small charge, and it's an automatic charge, so I don't have to remember to do it every year. I just get a bill once a year to pay it. And it keeps the account open
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Old 12-21-2020, 03:50 PM   #172
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Back in 1972 I just got a credit card from Boa in Ca with a student id from Caltech.


But the CITFCU would issue one I’m sure
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Old 12-21-2020, 03:52 PM   #173
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My credit union is doing away with ATM only cards. I think many other credit unions and banks are to.


Wells Fargo will not issue an ATM only when I asked
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Old 12-21-2020, 03:53 PM   #174
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No problem so far-- I have a bank account and a credit union account and have ATM only cards with both.
I get the impression that some banks and credit unions are doing away with ATM only cards for new customers and new accounts, but are allowing existing customers with ATM only cards to be "grandfathered." So you may have a harder time finding a bank or credit union who will issue an ATM only card if you are shopping around as a new customer.
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Old 12-21-2020, 03:59 PM   #175
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As other's have stated....

We use the debit card as our ATM card.....And it looks like in 2020 we hit the ATM 10 times for a total amount of $800.

The barber shop and the beauty parlor seem to be the only establishments requiring cash for us this year.

In previous years when we did the thing called "travel", I recall hitting up the ATM and then visiting the teller to get tip (ones) money. Can't wait to do that again!

Everything goes on the credit card because we get free money (points converted to cash) for using the credit card.

Simple.
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Old 12-21-2020, 05:23 PM   #176
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I have two cards I barely use. I have small dollar autopays for some subscriptions, like $10 a month or less, and just autopay those from my main checking account. Keeps them alive, so to speak.
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