How Millennials Became Spooked by Credit Cards

emilybee
Fri, 19 Aug 2016 19:24:40 +0000

I use my debit card for everything - airline tkts, rental cars, groceries, eating out, etc., etc. I’m liable for the same $59 as I would be with my credit card. I rarely put anything on a credit card except big purchases where I want the protection if I get a lemon. I’ve never had a problem with debit card and fraud and I’ve been using one for at least 15 years if not more. I did lose it twice last fall and once I realized called my bank. I told them the last time I used it and they confirmed that to be the last time. Cancelled card and they sent me a new one.

I check my account every morning so know exactly how much I have in my checking account and what has cleared.

I have nothing automatically withdrawn. I have to initiate paying the bill online.

S got his first CC after he graduated and started working. I suggested no more then a $1000 limit. As far as I know he pays his bill in full every month.