How to Use a Debit Card. Step 1 Lie

How to Use a Debit Card. Step 1 Lie through your Teeth

Remember how in the 70s, you went to stand in line at the tellers counter at your bank so you could withdraw some money? It was only in the 80s that we began to see ATM machines. Every time you opened a bank account, you would get something that looked like a credit card that you could just use on the machine to withdraw money. And then, Visa and MasterCard and all the rest of them began to see that these ATM cards could easily be credit card-like things. And that was how the debit card was born. We all have our debit cards with us. Do we know how to use a debit card to the best effect though? Perhaps not.

For instance, not many people are really aware of how to use a debit card without shooting themselves in the foot? You never to use a debit card to pump gas at a self-service outlet, for instance. The thing is, you go to a gas pump and you swipe your card. Since they don't know how much gas you are going to pump, they try to put a block on as much of your money as they possibly can.

Once you pump gas for, say, $50, they feel they can unblock your money. The problem is that while the block goes on instantly, the unblocking can take three or four days. If you don't want to lose the use of you money for that long, you dont want to use a debit card at the gas pump.

But quite apart from that, for all kinds of other things you should know about how to use a debit card make the most of it.

Let's say that you are the checkout line at the store, and the clerk asks you if you're paying with a debit card or credit card. If you're using a debit card, should you tell them it's a debit card? Actually, the smart way to go about it would be to lie and just say that you are giving them a credit card. Now why on earth would you do this? Well, there arereasons.

Debit cards and credit cards are processed through entirely different networks. Even if you do use a debit card, it can still be processed through a credit card network owned by Visa or MasterCard or something. If you say debit, it'll be processed through regular debit card channels.

Being processed through debit card channels isn't a good thing. If you have a debit card that has a reward program, you only get it when you sign for it. You won't get it when you punch in a PIN number. And then, you'll even get purchase protection just the way you do when you buy through a credit card network. You even save on the one dollar that banks charge you for using your debit card to make purchases.

There's just no reason on earth why you should tell the truth.

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