I don't actually have a credit card (at my income level that could be disastrous), but I do have a Visa Check (debit) card. I use it just like a credit card, but they take the money from my checking account. What I like about that is only Visa has access to the account, everyone else has to go through them. All of my regular expenses are automatically charged to it every month, except for two local ones that I pay by check.
If there is a dispute, I have the same protections as a Visa Credit Card holder does, only they don't credit my money back until the dispute is resolved according to their rules. It also leaves me the option (probably only a emotional need) to cancel the card and thus all the drafts if something untoward happens.
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John Forbes wrote:
UK direct debit works the same way. In order to get people to trust direct debit, the banks had to give an unconditional guarantee that anybody whose account is direct-debited can recall the money. I presume that there must be some sort of time limit, but I've no idea what it is.
The system works extremely well. I pay all my regular bills that way, and have done for years. Unlike a standing order, it works for variable amounts. There is no simpler (or cheaper) system.
It's the US that is out of step here!
-- graywolf http://graywolfphoto.com
"You might as well accept people as they are, you are not going to be able to change them anyway."
