On Rental Car Bureaucracy Conned Me Out Of An Absurd Amount Of Money

Posted on October 6, 2013 at 7:23 am 0

On Rental Car Bureaucracy Conned Me Out Of An Absurd Amount Of Money

I fully agree with the commenters who say this is not a case of being conned, but instead, a textbook example of poor planning. (I simply cannot fathom why anyone going on a long trip would leave their credit card at home as his friend did. For day-to-day stuff, I can understand not using the credit card. But if I'm traveling halfway across the country, on a vacation where I know I will or MIGHT have to book hotel rooms and rent a car? A credit card is a must-have.) But what really gets me is this line: "I am aware that credit cards are a good tool for building credit, but they have always seemed like a dangerous, unnecessary thing to have around." Really? I believe the author has it completely turned around: DEBIT cards are the dangerous, unnecessary thing. If your debit card is stolen, the money comes straight out of your bank account and it is GONE. Maybe your bank can get it back for you, but you're broke in the meantime. Credit cards have insurance, you can stop charges, and the bank usually pays those fraudulent charges. I've had my credit card number stolen before, and each time my bank was able to stop it immediately with barely any damage on me beyond waiting for the new card. Yes, identity theft and damage to your credit score can happen if it escalates, but for immediate security, you have more recourse in cases of the credit card theft. If nothing else, here's a post from the well-regarded economics blog "Naked Capitalism" that converted me to skepticism of debit cards (no, I don't have any connection to this site): http://www.nakedcapitalism.com/2009/09/the-debit-card-mystery.html If anything, the danger is the credit card owner: If you're well educated on how to obtain and use your credit card wisely, then you can build up credit, minimize your debt (find a bank or credit card company with reasonable practices and no/few fees), and avoid nightmare situations like this. And if you don't trust yourself, then as a previous commenter mentioned, just get a beginner's credit card with $500 credit line to have on hand for emergencies.

Posted on October 6, 2013 at 7:05 am 1

On Rental Car Bureaucracy Conned Me Out Of An Absurd Amount Of Money

I fully agree with the commenters who say this is not a case of being conned, but instead, a textbook example of poor planning. But what really gets me is this line: "I am aware that credit cards are a good tool for building credit, but they have always seemed like a dangerous, unnecessary thing to have around." Really? I believe the author has it completely turned around: DEBIT cards are the dangerous, unnecessary thing. If your debit card is stolen, the money comes straight out of your bank account and it is GONE. Maybe your bank can get it back for you, but you're broke in the meantime. Credit cards have insurance, you can stop charges, and the bank usually pays those fraudulent charges. I've had my credit card numbers stolen twice, and each time my bank was able to stop it immediately with barely a ripple effect on me beyond waiting for the new card. If nothing else, here's a post from the well-regarded blog "Naked Capitalism" that converted me to skepticism of debit cards (no, I don't have any connection to this site): http://www.nakedcapitalism.com/2009/09/the-debit-card-mystery.html The danger is the credit card owner: If you're well educated on how to obtain and use your credit card wisely, then you can build up credit, minimize your debt (find a bank or credit card company with reasonable practices and no/few fees), and avoid nightmare situations like this. And if you don't trust yourself, then as a previous commenter mentioned, just get a beginner's credit card with $500 credit line for emergencies.

Posted on October 6, 2013 at 7:00 am 2