 | A purchase made with a debit card is no different than a purchase made with a check. The money is immediately transferred from the debit card account to the merchant's account at the time of the sale. Since it is not a credit card it does not appear on your credit report. Further, it cannot be used (will be rejected) if there are not sufficient funds in the debit card account to cover the attempted purchase.In some ways a debit card is safer than a paper check in that you need a PIN to use a debit card. On the other hand, debit cards do NOT have the same federally mandated protections as does a credit card.Use the debit card to the limit of the rebate and then cut it up. With no funds in the account it is useless and UNLESS you give the issuer access to another source of funds they cannot get anymore money from you. You could also notify the issuer that you have exhausted the funds and cut the card up to make doubly sure that they do not try to get any more money from you but I don't think it is absolutely necessary. What I don't want is to receive mailings for next ten years after I activate this very temporary card! Very easy to avoid being sent any credit card offers, simply contact the credit bureaus and tell them you do NOT want to be sent any pre-approved credit offers. I think the "opt out" is only for five years but it definitely works as I have not received such an offer for many years. I used to get at least one a week. If I remember correctly all you need to do is go to the website of one of the credit bureaus and find the opt out section and that takes of all three bureaus.For Equifax you can call 1-888-567-8688 to opt out of the mailing lists. For Trans Union you can call 888-5-OPT-OUT (888-567-8688) OR go to their website Marketing Offers Opt Out-TransUnion.com and do it via Internet. I couldn't find specific instructions for Experian but here is their home page. Credit Report & FICOﾃつｮ Score powered by ExperianVermont wrote: If left more than 3 months, it began generating monthly Fees plus an annual charge for the "convenience"....I think the hope is that people will forget to spend the money on the card because it's awkward, and then the maker of the card gets to clean up. The "convenience fees" can only be deducted from the debit card account. I don't think it is the least bit awkward to use a debit card, I use mine mostly for grocery shopping because some stores don't accept credit cards, Winco and Costco are two major stores that don't. Nor do I think that rebates are issued because the issuer is hoping you will forget about it. The truth is, a debit card, especially one that has not been activated, is simply safer than a paper check. |
