Discussion in 'Misc. Vegas Chat' started by lasvg3, May 12, 2019.
not to mention, plenty of cards pay out in cash, not rewards points.
Indeed. As I noted.
This is why I carry 2-3 different cards with me. Though it has been rare, we have had cards compromised. No big deal - we just use a different one. My wife carries different cards than me as well.
Last fraud was on a trip to Vegas. Woke up first morning with emails saying I bought movie tickets somewhere in Mexico. Called and they said they would overnight a card to me in Vegas. I said not to bother. Will get it when we get home.
Guessing there is a good reason, but just curious about paying it off 3x a month, or more.
That's exactly why you should use a CC as opposed to a debit card.
A debit card could give someone direct access to your checking account. The balance could be wiped out before you realize anything is amiss.
Most CC's will limit the liability to $50.
I just realized that I must not have a very good understanding of finance and wealth management. I have 2 credit cards a Visa and Amex. I see people talking about having 15, 20, 25 cards. That blows my mind, not saying it's wrong I just don't understand the benefits to having so much supposedly unused revolving credit.
Reason we have so many cards is the sign up bonus in most cases. Usually 50,000 miles. Then get another. And another. A few cards have some nice benefits with them. One $79 a year card gives us a few hotel night. We use in big cities that cost $400+. Have taken dozens of long haul trips in Biz or First free. Stayed in suites, free. Etc.
And, over the years, we did run into some cash issues. Having credit cards when you can NOT get credit can be handy (or dangerous). And those mailers with 0% interest for 12-18 months have covered some big issues at very low cost (2-4% fee).
For cards with no fee, no DISADVANTAGE to having lots of available credit either. Actually, it helps your credit report.
I’m Impressed by everyone on here with 0 credit card debt, and never pay interest...I assume you are the same people who win every trip in Vegas too.
I must be is the vast minority, owing a couple grand. I have so much to learn.
You and I are the same. I like to pay off my balance every week and I check my accounts every other day. My debit card is actually in my safe at my house with other credit cards that I never use, but keep just for the benefits. IE-- my Delta card I have so I get free checked bags for me and my companions, plus the Annual Bogo. My Hyatt Card, which gives me a free night annually, and which I only use when staying @ Mlife properties or Hyatt. (Also gives Pearl Status for free parking-- although I don't need it since I'm Gold Status.) Dining and Groceries on the Amex Gold for 4X the points. Everything else on Chase Sapphire or Chase Freedom.
If the benefits exceed the cost of the annual fee, I will get the CC.
Credit cards help my credit score. By paying it off weekly, I never let my spending get out of control. And I can pretty much count on a free vacation (hotel and airfare,) from points every year. My only regret is not doing this sooner, as I have missed out on so many free points, and thus free vacations over the years.
I've used the Visa branded debit card at Dollar in LV without even an eye-blink. This was years ago, so I know it's not anything new.
My guess is you’re younger than many of us. Yes... there are those who claim to have never had CC debt... bravo... that’s not me... I carried significant CC debt for many years, but paid it all off about 10 years ago at age 50. What a GREAT feeling!
I now pay ‘em off in full a couple times a month. Just easier that way. Electronic transfers make like easy.
I'm pretty much a debit card person, as I've carried high credit balances in the past. The Visa debit also seems to be good for items that normally require credit. It also has fraud alerts like any credit card would. I haven't really used a CC much the last several years as I don't travel often (I know, I know, there's still cashback). It's just not worth the risk to me to get $10 a month cashback. That being said, I did get an mlife Mastercard last year once I knew I would be going to Vegas this year. I already had the money saved up, so I was able to pay for my hotel, cabana, rental car, shows, etc. up front and get all the cashback and tier credits prior to the trip. I also charged a bunch of home renovations that were already planned, so in this case it was a big win-win. I'll be gold status and have about $600 free play/express comps, which is huge since I've not gambled in Vegas in almost a decade, and even then it wasn't enough to merit even the smallest of comps.
Yea I can see the merits of credit card for sure but I’ve also had fraudulent stuff happen with my debit card with PNC and they have taken care of it just as quickly and with as little hassle as if it was a credit card. They’ve always issued a credit to my account the same day I’ve reported it stolen and then tracked it down for me so while I can definitely see the points/benefits side of the credit cards being a plus the other stuff doesn’t really bother me using a debit card.
Definitely different strokes for different folks. I've had much worse financial damage done via credit card fraud. But, my visa debit is from a small local credit union. I've had fraud on it 3x (once for like a truckload of iPads, so that was $$$), and in every case, they found it before I did, froze the card and reissued a new one, and my liability was zero. They also called me and let me know, and on one occasion even stayed open a little late at one branch so I could come get cash for the weekend. And as far as emergencies, I probably have more money in the bank backing that card than anyone would extend me on a legitimate credit card, maybe not, but probably. And as far as draining my account, well most of that money is in a second money market share account inaccessible to the card, and up to 6x a day I can move money back and forth between the two from my cell phone instantly and free, so none of those are concerns for me, but they're definitely all excellent points.
Not sure if you got an answer to your question or not. Here are some "tips"
#1 - You didn't state how many debit cards you are going to take, but if you only have 1 then it's a very bad idea.
#2 - Before you leave on your trip call the 1-800 number on the back of your card and tell them you plan on traveling to las vegas, they will ask you the dates of your trip and specifically what states you plan on using your card. If you have a layover and plan to use the card at an airport make sure you include that state.
#3 - If you plan on using your card at ATM machines as well as charging make sure the daily limit on the cards are set appropriately.
#4 - I assume you are not renting a car as most companies in vegas will not rent to you if all you have is a debit card.
#5 - As a previous poster mentioned, keep track of the "holds" that are placed on your card, especially the motel you are staying at. remember also that those held funds are not immediately credited back to your account, it can sometimes take as much as 2 weeks to get the money back.
Just make sure you have a back up funding plan in place just in case your primary card would get locked for triggering a fraud alert, especially on a weekend when you may not be able to reach your banks customer service department.
Actually, you might be in the majority among American card holders.
Don't we all. Skip your next Vegas trip and use the savings to pay down your debt.
Join the minority.
These are all good points I would feel a lot less comfortable just having my debt card to to use on these trips if my wife wasn’t with me with her own card. We try to just use one of them while we are there and also charge to our room as much as possible so as to avoid card skimmers or getting something locked up while we are there.
PS: Most of these “holds” are essentially released by the hotel as soon as you check out and settle up your bill. Your bank is where the hold up is after that. The holds do se to vary in length of time depending on the property. I’m my experience the holds hey place at Wynncore seem like they take 2 weeks to fall off but at MGM properties they have fallen off immediately upon checking out. I have called the bank and gotten them to release some of the large holds immediately but I do not know if that is something any bank can do.
I believe a credit card offers more protection than debit card. A debit card goes straight to your bank account. If somebody gets access to your bank account, they can wipe it out. They cannot do that with a credit card. I would never and never do use my debit card for purchases. I will take my chances with a credit card. I only use my debit card to get money at an ATM. But, that's just me.
Fair point on the "fraud alert" thing. I'll be checking with my bank just before I leave.
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