mo problems

[desh]

Has it really been that long since I last posted a pointless poll? My, how time flies like an arrow. And how fruit flies like a banana.

[Poll #942679]

I just bought a CD from The Hold Steady and another from Sufjan Stevens. Ask me in a couple weeks if you want to know how they are.

JITW tomorrow! Whee!

Comments

[desh]

Your card is a debit card that can represent itself as a credit card for purposes of the traditional credit card transaction and the machinery and programming made to facilitate it. Just because your card breaks the traditional gender card roles doesn't mean that the rest of us have to change our terminology to accomodate it.

[smarriveurr.livejournal.com]

My card debits an account. It is a debit card in the true sense of the word. The so called "debit cards" to which the rest refer hide an ATM transaction behind a paper-thin, torn veneer of a traditional purchase.

I believe the nomenclature should simply be changed, such that what we now refer to as a "credit card" transaction would be more properly titled as a "useful card" transaction, and the PIN-based nonsense can be accurately labeled the "clunky and useless dinosaur card designed to cost you money" transaction.

[desh]

Yet strangely, that clunky beast is sometimes the best available transaction for all parties involved. The store is charged for the transaction on a different scale than for credit-card-style transactions, so for some amounts it costs them less. You can only get cash back from a "debit card" transaction, and moreover, it's illegal to charge customers a fee for getting money this way, making it often cheaper than an ATM.

Having said that, I never do it anymore. Credit card with cash back, baby.

[smarriveurr.livejournal.com]

Alright. I hereby rescind the "clunky and useless dinosaur card designed to cost you money", and replace with... [i]ATM Card[/i]. Because that's what it is. It is a card for an automated teller machine. They have built such a machine into the apparatus, it is still an ATM. Yea, so let it be written, so let it be done.

[fweebles.livejournal.com]

Debit cards in Canada require a PIN number, and are not backed by your bank, and not any sort of credit card institution.

It truly is a debit from your account, but you still need to enter the PIN to make sure you're not using a stolen card.

[fweebles.livejournal.com]

Er...ARE backed by your bank, and not a credit card company.

[smarriveurr.livejournal.com]

I'm not entirely sure what happens behind the scenes with my check card, to be honest. It's technically branded Visa, but it's very much a [bank name removed to protect the innocent] card, as there is a shop nearby that can process Visa fine, but has issues with cards specifically from that bank. All I knows is, I gives dem de card, de money is taken from my checking account when the transaction processes. I've found it generally much more efficient, timewise, at least, than the ATM transaction system.

Hm. That sentence, up there, doesn't work as well with the dialectical 'dems'. It seems to run rather counter to using the phrase "transaction processes." And yet, I'm investing a lot of time to comment on that fact here, rather than correct it there. Weird.

[kyra.livejournal.com]

I could give a long-winded blathery explanation about this, involving issuing banks and bullshit like that, but here's basically what you need to know: when your card is used as a debit, it deducts in real-time and settles up later. This is why you should not use debit for restaurants/hotels - if some goon double-swipes your card, they've just tied up a shitton of your money until the second transaction releases. OTOH, when a cc is swiped, the system calls out for an authorization, which sets aside a portion of your credit limit for use. The authorization can last from a few days to a month, depending on when the batch is settled. What this boils down to: you can go over your credit limit, but you're not tying up real time money.

There's a lot more that goes on in there which I dismiss as magical handwaving, but.

[smarriveurr.livejournal.com]

That's the role signatures theoretically play for the US cards. 'course, now, places don't even make you sign for anything under like, $25, and my card has had the signature strip rubbed away and thus technically been void for about a year, and only one clerk even noticed.

In closing, I say unto thee: Madness, thy name is Canada.