HOTEL CANCELLATION CHARGES?
Ok so, My work debit card (My pay per week automatically goes to this) was used in a transaction TO BOOK TWO HOTELS ON BOOKING DOT COM. This made no sense as I am ONLY 18 AND DO NOT RECALL BOOKING TWO DAMN HOTELS. So I called booking dot com and they cancelled the reservation and contacted the hotel for me. However, the hotel did NOT waiver the cancellation fee and the second hotel did not respond. Now, my debit card is cancelled and is EMPTY. Keep in mind, this card is not in affiliation with a bank. It's ADP total pay card. What's gonna happen to me? They can't charge me because this card is cancelled and there is no money in it. Thanks.
What if I do not have enough money on my card to cover expected hotel incidentals at checkin?
They do place a hold on your card. I just went to NYC and stayed at The Time hotel. They put a $150 hold on my card for a deposit for BOTH days. So $300 of my money was held up for 3 days after I returned from my trip. You can ask someone you know who has funds on their card to fax a copy of their card to the Hotel and place the hold for incidentals on their card instead of yours, otherwise you won't be allowed to check in. This is unfortunate because who would pay $8 for a bottle of water from the 'mini-bar' anyway.
Can a hotel charge a cancelled debit card?
So about 6 weeks ago I made a hotel reservation on Expedia that I'm 1000% sure said "FREE CANCELLATION" (otherwise I wouldn't have booked it.) Anyways I got an e-mail today reminding me of my stay, so when I go to cancel it [because my friend found a better deal] the site said "NO CANCELLATION OR REFUND" It's about 3 weeks before my reservation.. if I cancel my debit card can they still charge me? Or what should I do so that I can cancel without getting charged?? I mean it's ridiculous that I'd get charged for a room I won't be using that I'm trying to cancel 3 WEEKS in advance!
What are the pros and cons of having a debit card versus a credit card and vice versa?
I only use my debit card to access my savings/checking account at a bank or ATM. For all other transactions, I stick with my credit card. Here are a few reasons why:Assuming you spend responsibly, pay your bill on time, etc., using a credit card builds your credit. A higher credit score means lower interest rates when you borrow money for your mortgage or car, since you're seen as a smaller risk to the lender. Lowering your interest rate by one percent makes a huge difference when talking about a 6 or 7-figure loan over a 30-year period.Many credit cards offer extra protection for your purchases whether it's extending the manufacturer's warranty, coverage against theft/damage for the first 90/120 days after purchase, or letting you return an item after the merchant's return period ends. For travelers, credit cards provide you with extra protections/insurance for trip cancellations, delays, baggage loss, and such if you book the ticket using the card.On the topic of travel, it's easier to get a credit card that doesn't have a foreign transaction fee (e.g. airline/hotel-branded cards, Chase Sapphire Preferred) than a debit card that doesn't have such fees. To have foreign transaction fees waived for a debit card usually requires a minimum account balance or certain status – credit cards don't have such requirements.Credit cards offer rewards and perks like cash back, miles, free nights at hotels, free checked luggage, access to airport lounges, concierge services, etc., which debit cards don't provide. You will most likely find a rewards program that fits your needs/wants.By using a credit card, I need less cash upfront, which means I can keep more of my money in a high-yield interest account online (0.85% APY) rather than a traditional brick-and-mortar bank (0.01% APY). 0.85% APY is less than the inflation rate, but at scale, it's much better than 0.01% APY.One perk of debit cards:If you are traveling and run out of the local currency, you can go to an ATM and withdraw from your account. There's an exchange rate and probably a fee as well, but it's most likely cheaper than a credit card cash advance and at least comparable to any other place that sells foreign currency.
Is there an overdraft fee for Serve?
When you make a payment with a card, the POS will first send an authorization request to Amex. Amex will then check to see if you have sufficient credit in your account. If you do not have sufficient credit, your transaction will be denied. Long story short, there is not an overdraft fee as your transaction (generally) won't even be able to be completed.This is also why sometimes you'll see on your statement a large hold on your credit, even though you know you didn't spend that much. For example, a one night stay at a hotel costing $100, your hotel may swipe your card to authorize $200. The hotel is effectively saying, I just want to make sure you have enough credit in case your final bill goes beyond $100 (if you get room service, etc.). No one wants to deal with a customer that does not have enough credit to pay for the final bill (not just the initial bill).
What happens if my debit card is charged as credit?
im 16 and have a debit card and i want to buy something online but i dont know if that would be bad if they charged it as credit instead of debit. its a big purchase of about $160
I have bad credit but fifth third bank opened a checking account can I get a debit card too
I have bad credit but fifth third bank opened a checking and savings account for me. I would like to get a debit card too but will they go thru chexsystems when you apply for a debit card? I am afraid they will cancel my accounts then!
What is the point of using a credit card when compared to a debit card? Aren't you less likely to get in debt that you can't repay if you just use debit?
Let me take a stab at this question from a different perspective. Ive seen many customers savings money avoiding debt by putting there money in a savings or cd account. For a nominal return. What if you can make 1 — 3 % on your spending. Would that help you?Now- what is the average household salary in the USA. 50k.Thats a median number. Most two working parents earn on average 50k each. To say the average income in a two household is 100k is realistically low.How much of that is used on food, gas, entertainment?The cost of the movies for a family of 2 alone is $50.00. Food $100-200 a week. If one eats out 5x a week for lunch thats $50.00 bucks more. Coffee, starbucks, dinner, pizza night.What about vacations, hotel stays, air fare. May cost $2000 combined for the week. Is the picture becoming clear?Opps forgot to mention- netflix, spotify, pandora,and any media streaming platform.Utilities- cell phone, cable, water. Etc 200 for a family of 4. Easy. I left out others clearly you can add more.Easily one can spend 10 —30k a year on these expenses. People usually spend more.Now why put that on your debit card and not earn money back?Credit cards esrn rewards- some can earn 1-3x cash back with bouns points and perks to add.Simple math spend $1,000 a month and get 1.5 cash back is…….drum roll$1,800 a year. Plus other benefits. Based on life style.Are you saving money not using a credit card? That $1800 cash back can go to a savings account. Does your debit card do that.Its about habits. Good financial habits. Its about taking the opportunity to earn more. Because if you dont take the opportunity you can lose the opportuniy to have more.You don't spend what you don't have. If you spend it anyway. Put it on a rewards card. Take advantage of the spending perks and more power back to you.If you can't control yourself. Because you wont pay it back. Youll need to learn how to to become more financially independent. If not well thats why u struggleHope this helps
How does an overdraft work?
All I managed to work out about an overdraft is that it costs more if you accidently go into red, rather than asking permission-with some banks you do have to pay and some you don't. With the Halifax it's about £40 per month if you don't ask permission, but of course it varies. As for 2%-well if you're £10 overdrawn, then you will have interest of £0.20 to pay (as well as fines)-but I think that's far too small an amount, it's more than that.