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MaggieD

MaggieD

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Did you know that if you loan someone money and "feel funny" about having them sign a promissory note (which you should do, folks), the next best thing is to give them the money in check form writing "loan" in the memo line? Cash? Don't even think about it.

Did you know that if someone steals your credit card, the most you're liable for is $50? (Federal regulation.)

Did you know that if someone steals your DEBIT card, if you notify them before the card is used, you're liable for zero? $50 or less if you notify them within two days? $500 or less if you notify them within sixty days? And that you have unlimited liability if you don't report within sixty days? This is a little confusing, so here's the link. Are You Liable for Unauthorized Credit Card Charges? - FindLaw

Did you know that unless you have an occupancy permit to rent out a room or portion of your home, the courts will not enforce your lease or help you collect delinquent rent?

Have any other Did You Know's for us??
 
Thanks - interesting stuff. I use my debit card for everything. The consumer is completely protected. Twice, I was defrauded by businesses and twice my Visa debit card disputed the charges, and I didn't have to pay. That kind of insurance is invaluable, and comes free of charge.
 
I don't loan money to anyone anymore, unless I am absolutely sure that their personal honor will compel them to repay me as soon as they can. In such case, no written note needed.

Mostly though, I just don't loan money anymore period. If I can afford it, I may GIVE someone money with no repayment expected... if I can't afford to do that I just tell them 'sorry, don't have it'. Less stress and strain that way.
 
I agree. I've gotten so angry over people not repaying loans that I just give it to them if I can. No expectations of repayment=no hurt feelings later.
 
Goshin said:
I don't loan money to anyone anymore, unless I am absolutely sure that their personal honor will compel them to repay me as soon as they can. In such case, no written note needed.

Mostly though, I just don't loan money anymore period. If I can afford it, I may GIVE someone money with no repayment expected... if I can't afford to do that I just tell them 'sorry, don't have it'. Less stress and strain that way.
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If you loan someone $20.00 and never see them again, it was money well spent.
 
Superfly said:
Thanks - interesting stuff. I use my debit card for everything. The consumer is completely protected. Twice, I was defrauded by businesses and twice my Visa debit card disputed the charges, and I didn't have to pay. That kind of insurance is invaluable, and comes free of charge.
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Be careful if you are using it to check into a hotel unless you are paying upfront. I let them use my debit as the security swipe for multiple rooms when checking in as part of a group and it set aside a reserve on my account for the total cost of all the rooms and then when I went to check out, it appeared I had overdrawn my account so I had to write a check because the hotel's office people were not there to get the bank to release the reserve they had set on my account when I checked in--basically I would have had to have enough in my checking to pay for the rooms twice to have not run into this problem. It expires after so many days on its own if the charge is not made, but on debit cards it eats up your available balance big time.
 
So true. And often, debit cards do have a daily limit. I went into a furniture store once to buy some furniture. It was something like $2700 or something, and when they swiped my card, it declined. I was so humiliated. I had more than enough in that account, but it declined it anyway. It was too late to call the bank, so I slunked out with my tail between my legs, so embarrassed. I called them the next morning, and apparently they have a $2,000 limit on the card per day, so I had to swipe for $2,000 and write a check for the remainder.

Would have been nice to know that in advance. :lol: Probably in the fine print somewhere that I didn't read.
 
Superfly said:
So true. And often, debit cards do have a daily limit. I went into a furniture store once to buy some furniture. It was something like $2700 or something, and when they swiped my card, it declined. I was so humiliated. I had more than enough in that account, but it declined it anyway. It was too late to call the bank, so I slunked out with my tail between my legs, so embarrassed. I called them the next morning, and apparently they have a $2,000 limit on the card per day, so I had to swipe for $2,000 and write a check for the remainder.

Would have been nice to know that in advance. :lol: Probably in the fine print somewhere that I didn't read.
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You didn't know debit cards had a limit?

When it comes to plastic, pretty much everything has a limit...except for the black Amex card.
 
Gipper said:
You didn't know debit cards had a limit?

When it comes to plastic, pretty much everything has a limit...except for the black Amex card.
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They all have fraud departments that, when one's purchasing is deemed unusual for a cardholder, they will often shut it down. (I know you know that, but thought I'd add to your thought.)

It's happened to me twice. Once when I was buying a house-full of furniture in one day. I didn't go over my limit, but spent a pot full of money in four hours. By the time I made my last purchase, my card was declined until I talked to them on the phone. Another time was when I gassed up for a trip to Kentucky in Chicago and, when I got to Kentucky 8 hours later bought $500 worth of cigarettes at a cigarette store. They thought, again, that the card was stolen and put an immediate stop on it until I spoke to them.
 
MaggieD said:
They all have fraud departments that, when one's purchasing is deemed unusual for a cardholder, they will often shut it down. (I know you know that, but thought I'd add to your thought.)

It's happened to me twice. Once when I was buying a house-full of furniture in one day. I didn't go over my limit, but spent a pot full of money in four hours. By the time I made my last purchase, my card was declined until I talked to them on the phone. Another time was when I gassed up for a trip to Kentucky in Chicago and, when I got to Kentucky 8 hours later bought $500 worth of cigarettes at a cigarette store. They thought, again, that the card was stolen and put an immediate stop on it until I spoke to them.
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I was once disapproved because, earlier in the day, I had made two $1 charges.
 
MaggieD said:
They all have fraud departments that, when one's purchasing is deemed unusual for a cardholder, they will often shut it down. (I know you know that, but thought I'd add to your thought.)

It's happened to me twice. Once when I was buying a house-full of furniture in one day. I didn't go over my limit, but spent a pot full of money in four hours. By the time I made my last purchase, my card was declined until I talked to them on the phone. Another time was when I gassed up for a trip to Kentucky in Chicago and, when I got to Kentucky 8 hours later bought $500 worth of cigarettes at a cigarette store. They thought, again, that the card was stolen and put an immediate stop on it until I spoke to them.
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I can understand why they'd be suspicious if it was Tom. All you had to do was say, "I'm buying a bunch of stuff" and let them know you're female. Purchases woulda went right through. :D
 
I've been on road trips before, and been declined because they apparently felt like there's no way possible we could have gotten as far as we did, as quicky as we did. :lol:

We were in Homestead, Fl, once, on vacation in the Keys. Went to gas up, card declined. Tried again, card declined. Had been there a couple of days already, so nothing out of the ordinary. I called the bank and they said it was apparently an issue with the "pay at the pump," and not our card. Weird. Scary, but weird.
 
Superfly said:
I've been on road trips before, and been declined because they apparently felt like there's no way possible we could have gotten as far as we did, as quicky as we did. :lol:

We were in Homestead, Fl, once, on vacation in the Keys. Went to gas up, card declined. Tried again, card declined. Had been there a couple of days already, so nothing out of the ordinary. I called the bank and they said it was apparently an issue with the "pay at the pump," and not our card. Weird. Scary, but weird.
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I tend to not do PATP with my debit because there's always some sort of issue with it. Doesn't matter the station, doesn't matter the location, doesn't matter the chain. I'm that unlucky.
 
Gipper said:
I tend to not do PATP with my debit because there's always some sort of issue with it. Doesn't matter the station, doesn't matter the location, doesn't matter the chain. I'm that unlucky.
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I always pay at the pump. 99 times out of 100, I never have a problem. That one time, though, I'm 6 hours from home.
 
Superfly said:
I always pay at the pump. 99 times out of 100, I never have a problem. That one time, though, I'm 6 hours from home.
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Oh, I also forgot to mention that I usually like to go inside and get a huge pop and maybe a snack. Can't get peanuts and Coke at the pump.
 
Paying at the pump with a debit card is generally not a good idea.
They tend to withhold extra money from your card, until the transaction goes through.

Plus I just don't like exposing my main bank account number to theives, skimmers, etc.
Better to pay with a CC and PIF at the end of the month and if that gets hacked, I have more CC's plus 0 liability.
 
Gipper said:
Oh, I also forgot to mention that I usually like to go inside and get a huge pop and maybe a snack. Can't get peanuts and Coke at the pump.
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:lol: That's one of the reasons I love pay at the pump. I have small kids who LOVE to buy overpriced crap inside the stores.
 
Superfly said:
:lol: That's one of the reasons I love pay at the pump. I have small kids who LOVE to buy overpriced crap inside the stores.
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Only grocery items are overpriced. Little Debbies are the same as a gas station as they are in a grocery store. Fountain pop is cheap. Plus you can also sometimes get hot dogs, nachos, pizza, etc.

Just don't buy big bags of chips or beef jerky or stuff like that...or other non-snack food like bread and peanut butter.

Besides, I'm not gonna bitch over a bag of Funions costing an extra 20 cents.
 
Gipper said:
Only grocery items are overpriced. Little Debbies are the same as a gas station as they are in a grocery store. Fountain pop is cheap. Plus you can also sometimes get hot dogs, nachos, pizza, etc.

Just don't buy big bags of chips or beef jerky or stuff like that...or other non-snack food like bread and peanut butter.

Besides, I'm not gonna bitch over a bag of Funions costing an extra 20 cents.
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:lol: You never told me you were a health food junkie. J/K If you can't eat crap on road trips, where can you?
 
Superfly said:
:lol: That's one of the reasons I love pay at the pump. I have small kids who LOVE to buy overpriced crap inside the stores.
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I pay at the pump so I do not have to go in the store twice. In my hood they make you leave your card with them if you are filling up and then come back and do the transaction when you are done.
 
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