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Can anyone not handle a credit/check card?

Cody2010Cody2010 1176 replies34 threads- Senior Member
edited May 2010 in High School Life
I just found out that I have $455 dollars in overdraft fees. (I get charged $35 for every purchase after my balance hits 0)

It's like the credit card companies don't even warn us when we're approaching $0. And then when I overdraft, it doesn't decline the transaction and I end up buying a $35 bottle of Mountain Dew. And then I do it again 3 hours later and they don't bother saying that I bounced the check card till like 4 days later after I've made 15 unknowingly overdwarn purchases.

Does this constantly happen to anyone else?
edited May 2010
11 replies
Post edited by Cody2010 on
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Replies to: Can anyone not handle a credit/check card?

  • MattNCMattNC 3422 replies15 threads- Senior Member
    Cody, welcome back to the crappy HSL, glad you've returned. I don't own a credit card, but in any case, that's pretty sad that you're technically paying 35 bucks for a Mountain Dew. I learned in my Show Me The Money elective to not use a credit card for small purchases. :P
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  • youwishyouwish 383 replies9 threads- New Member
    Cody is back [: Actually Matt, HSL only recently became crappy..it was quite nice around an hour ago..
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  • romanigypsyeyesromanigypsyeyes 33580 replies769 threads Senior Member
    I have two credit cards and a check card. Back in the states, I almost always use my check card- I RARELY have more than $10 on me at a time. I get to build up points that way :). The key is- ALWAYS KNOW HOW MUCH MONEY YOU HAVE. Really, it's not that difficult. Check your account every single day and keep track of what you've spent money on. Keep a checkbook if you have to. Banks make their money off of things like this, so there is no way that they're going to alert you (actually, I think Chase does- but that's an exception).

    As for my credit card, I use it to buy gas once in a while and then pay down the balance. My balance is currently about $400 because my parents used it to pay some things (wanna take a guess at whether or not they're helping me pay down THEIR purchases? *grumble*) and I pay over the minimum every month. It is what it is.
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  • ThisCouldBeHeavnThisCouldBeHeavn 15990 replies70 threads- Senior Member
    I have a debit card which is tied to my savings account. I barely spend any money, but if the balance drops down I just slide some money over.
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  • MattNCMattNC 3422 replies15 threads- Senior Member
    Cody is back [: Actually Matt, HSL only recently became crappy..it was quite nice around an hour ago..
    I meant in general, like the past few weeks, HSL has been sucking a large schlong.
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  • QwertyKeyQwertyKey 4548 replies42 threads Senior Member
    Didn't they recently just make a law against this, forcing banks to make you sign every time you want to overdraft? Is this just a Michigan thing?
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  • romanigypsyeyesromanigypsyeyes 33580 replies769 threads Senior Member
    ^ Hmm... I haven't heard of this. When was this?

    (I will have to ask my mom, who is a banker.)
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  • QwertyKeyQwertyKey 4548 replies42 threads Senior Member
    I think a couple of months ago? I'll try some googling.

    Ahh... Doesn't start till July 1st.

    http://www.visualeconomics.com/overdraft-protection-the-new-overdraft-law_2010-03-18/
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  • romanigypsyeyesromanigypsyeyes 33580 replies769 threads Senior Member
    Oh... ok. Yeah, I do remember hearing about this. The signing thing threw me off, because I don't remember that at all.
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  • ThisCouldBeHeavnThisCouldBeHeavn 15990 replies70 threads- Senior Member
    I must say, spending $35 on a bottle of soda is full'o'fail
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  • Cody2010Cody2010 1176 replies34 threads- Senior Member
    Didn't they recently just make a law against this, forcing banks to make you sign every time you want to overdraft? Is this just a Michigan thing?

    That actually sounds SUPER legit... since I rarely spend ~$20 and have to sign
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