No. of Recommendations: 0
I too am a fan of the debit card. One thing to beware of though is that since the money comes directly out of your checking acct., your acct. can get tied up inadvertently. For example, if you use it to reserve a hotel room or something, they may put a block on a certain dollar amount of your account, so you can't get to your money! I had a situation where I used it to purchase airplane tickets - they accidentally charged it twice, and it took over three weeks for my checking account to get credited (meanwhile, hundreds of dollars that were in there were unavailable to me, and there was nothing I or the bank could do about it). Also, if you lose your card, it's a lot worse than losing an ATM card since it can be used without a PIN (though I guess it's comparable to losing a credit card). I've stopped using mine for anything except paying directly in stores, etc. - if I need to purchase plane tickets over the phone, or use it to secure a hotel room, or anything else that sounds like it could get complicated, I use a regular credit card since if anything goes wrong, it won't tie up my checking acct.
I must say, it sure would be nice if they started giving perks - I do tend to use it a lot at stores, etc. and have often thought about the fact that my band is making/saving money off of that (as opposed to checks)!
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