Embrace Home Loans Wraps Up Remarkable Year of Giving Back PRNewswire
Embrace Home Loans Wraps Up Remarkable Year of Giving Back PRNewswire
After moving from Nashville, Tennessee to Portland, Oregon, Branden Harvey shares his experience of moving from one side of the country to the other. From talking about the good, the bad, and the ugly of moving and how Homes.com can help you, Branden gives you advice for making the leap.
Have you ever wondered about the uses of a credit card vs. a debit card? It’s likely you have both types of cards in your wallet at this very moment, and you’re given the option to choose one of themâsometimes in a matter of secondsâevery time you make a purchase. Still, you have lingering uncertainty about whether you’re making the best choice… and that same question pops into the back of your mind every time you buy something: “Should I use a credit card or debit card?”
Being uncertain about the difference between a credit card and debit card or the best time to use either is a common dilemma. The better you understand the benefits of eachâbeyond the fact they offer a way to access money without having to carry cash or a checkbook aroundâthe savvier a spender you’ll become.
Credit cards and debit cards both offer a convenient way to pay for things, but they work quite differently behind the scenes. As a result, they each appeal to different types of consumers, says Lou Haverty, financial analyst and founder of Financial Analyst Insider.
A credit card is a form of revolving credit. When you spend with your credit card you are borrowing, and you pay interest if you carry a balance, Haverty says. A debit card, by contrast, is linked to a bank accountâusually a checking accountâand the money is withdrawn as soon as you make the transaction, typically using a PIN.
A difference between credit cards and debit cards is that with a credit card, the exact amount you can spend depends on your credit limit and the balance you are currently carrying on the card, Haverty explains. If you have a $1,000 credit limit and a $600 balance from previous purchases, you can continue to charge an additional $400. If you’ve reached your credit limit, you won’t be able to use the card for more purchases until you pay off at least part of the balance. You owe a minimum payment each month.
When considering credit card vs. debit card, know that most credit cards carry an interest rate, expressed as an annual percentage rate (APR), which is essentially what you pay to borrow. You’ll have to pay interest on that $600 balance mentioned above if you carry the balance from month to month. âCredit cards require a responsible approach to your personal finances because you have the ability to spend beyond what you might have as cash in your bank account,” Haverty says.
A difference between credit cards and debit cards is that with a debit card, funds are pulled directly from the balance you have in the checking account to which the card is linked. In a traditional account setup, you can’t spend more than what you have in the account, which helps reduce the chance of racking up debt. If your account offers overdraft protection, you may be able to spend more than your account balance by leveraging funds from a different, linked bank account.
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âCredit cards require a responsible approach to your personal finances because you have the ability to spend beyond what you might have as cash in your bank account.”
Another key difference between a credit card and a debit card is the criteria you’ll need to meet for each. âGetting approved for a credit card is usually dependent on your personal credit score. The higher your credit score, the more likely you are to be approved,” Haverty says. âIf you have a lower credit score, you may still get approved, but you might have a lower credit limit.”
Patricia Stallworth, certified financial planner and money coach, says that in addition to your credit history, factors such as your employment status could play a role in credit card approval.
When analyzing credit cards vs. debit cards, consider that a debit card is typically issued automatically when you open a checking account. This process usually requires some personal information, such as a Social Security number, driver’s license, employment information and valid email address. A deposit may also be needed to fund the account and complete the application. Then stay tuned for your debit card in the mail!
While it’s easy to have credit card vs. debit card on the mind, there are some scenarios in which using either a debit card or a credit card could fit the bill, depending on your financial needs and goals. Use the outline below as a guide for when the question of “When should I use credit vs. debit?” comes up:
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Why should credit cards have all the fun?
Now you can earn cash back with your debit card.
Discover Bank, Member FDIC
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“Debit cards are great for everyday purchases that you have budgeted for because the money comes directly out of your account.”
Now that you understand which circumstances might be best to use a credit card vs. debit card, you can make the point-of-purchase decision of “When should I use credit vs. debit?” a little easier. It really depends on the goals you have laid out for your personal finances.
Get comfortable using both financial tools for their respective features. But be sure to stick to your budget, and don’t accidentally overspend from your bank account or charge more than you can afford to pay in full by your credit card’s monthly due date. When you learn to confidently use both of these cards to your advantage, you can enjoy all the various perks and protectionsâtimes two!
1 Outgoing wire transfers are subject to a service charge. You may be charged a fee by a non-Discover ATM if it is not part of the 60,000+ ATMs in our no-fee network.
2 ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as VenmoÂ® and PayPal, who also provide P2P payments) may not be eligible for cash back rewards. Apple, the Apple logo and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries.
The post The Difference Between Credit Cards and Debit Cards: Explainedâââ appeared first on Discover Bank – Banking Topics Blog.
Consumers alleged FGF Brands bakes its naan in a conveyor-style, gas-heated oven even though the company claims the breads are baked in a tandoor oven, which is a clay oven that uses charcoal heat that produces smoky flavors.
If you purchased disposable contacts made by Alcon, Johnson & Johnson Vision Care, CVI or Bausch & Lomb between June 1, 2013 and Dec. 4 ,2018, you may be eligible for compensation. However, Bausch & Lomb contact lenses bought through 1-800-Contacts after July 1, 2015 are not included in this settlement.
In October 2015, hackers accessed names, Social Security numbers, doctorsâ names, medical diagnoses, treatment plans and insurance information. Patients whose data was breached should have received a notice from the cancer treatment center in March 2016.
The exact cash payment per customer is not available and will depend upon the number of claims filed and the net settlement fund after attorneyâs fees, costs and other expenses are deducted.
The settlement money provided by ABB will be added to the claims made under previous settlements with contact lens manufacturers. The estimated amount that will be provided to each consumer is not available at this time.
Payment amounts will vary, but are estimated between and .
Consumers may receive .50 for each product purchased, but only five may be claimed without a receipt. With proof of purchase, consumers can claim an unlimited number of products.
Sometimes, you notice right away if you have been overcharged for an item. If you pick up a box of cereal marked .99 and see it listed at .22 on your receipt, that error is pretty easy to spot.
Eligible class members might have received a notice regarding a Godiva settlement in 2016 as the case was pending in U.S. District Court in Florida. The case was later refiled in Cook County, Illinois, so if you submitted a valid claim response to the 2016 notice, you do not need to file a new claim in order to receive a payment.
The lawsuit alleges FGF Brands used fraudulent and deceptive advertising to market its use of a tandoor oven. FGF Brands denies that it has violated any laws.
There are two settlement classes:
Submit your valid claim by March 1, 2021.
Submit your valid claim by the May 10, 2021 deadline.
See if you qualify and submit your valid claim by March 10, 2021.
Check out this monthâs highlighted class-action settlement offers, some of which have taken years of litigation, to see if you can benefit.
Complete and submit your valid online claim form by April 1, 2021.
You may be eligible for a portion of a .9 million settlement from the maker of Stonefire Naan products, FGF Brands, if you bought their naan bread that was marketed as baked in a tandoor oven between Nov. 16, 2013 and Oct. 23, 2020.
Potential awards are expected to be between and .
Submit your valid claim by Feb. 18, 2021.
Synchrony Bank allegedly violated the Telephone Consumer Protection Act (TCPA) by calling individuals who did not have an account with the bank. These unsolicited calls were made by an automatic dialing system or artificial/pre-recorded voice, which is in violation of the TCPA unless the caller has prior written consent from the recipient.
If you bought any of these products within that time period, you may claim .50 for each item purchased:
Customers who returned an item bought at Walmart or Samâs Club between July 17, 2015 and Nov. 25, 2020 may be eligible for part of a million settlement.
The complaint alleged Godiva receipts contained 10 digits, including the first six and the last four of the card numbers on its point-of-sale receipts.
AmeriGas and Blue Rhino allegedly agreed with each other to reduce the amount of propane in the pre-filled tanks they sold from 17 pounds to 15 pounds without reducing the price, according to court documents. The lawsuit accused the companies of colluding to reduce the amount of product in the propane tanks while keeping the cost the same in order to increase their profit margin by more than 13% per pound.
If you received a call from Synchrony Bank between June 1, 2016 and Oct. 19, 2020, you could receive a portion of a .9 million class-action settlement.
Walmart and Samâs Club were accused providing some customers with incomplete refunds by not including the sales tax paid on the original purchase.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
If you bought an AmeriGas or Blue Rhino pre-filled propane tank between Dec. 1, 2009 and Nov. 30, 2020, you could be eligible for a portion of a .5 million settlement.
Several forms of relief are available, including:
Consumers can claim a cash payment of for each tank when they provide proof of purchase along with a completed claim form. If no proof of purchase is submitted, the payment is .50 each for a maximum of 50 propane tanks.
The Fair and Accurate Credit Transactions Act (FACTA) prohibits any more than the last five digits from appearing on such a receipt in order to protect consumers.
Several affected consumers filed lawsuits alleging 21st Century Oncology failed to take reasonable cybersecurity steps to protect personal data. 21st Century Oncology admitted to no wrongdoing, but agreed to the settlement to resolve the litigation.
You may be eligible to share in a .2 million settlement reached with contact lens distributor ABB Optical Group LLC over allegations of a conspiracy to increase the cost of contact lenses.
If you made a purchase at a Godiva Chocolatier retail store between April 6, 2013 and Nov. 20, 2015, you may be eligible to share in a .3 million class-action settlement.
AmeriGas admitted no wrongdoing but agreed to the settlement to end litigation. Even though consumers who bought either AmeriGas or Blue Rhino propane tanks may be affected by this settlement, it only resolves claims made regarding AmeriGas because the Blue Rhino case is ongoing.
If you are one of the 2.2 million patients whose personal information was accessed through a 2015 data breach of 21stCentury Oncology, you could be eligible for compensation from a .5 million class-action settlement.
The settlement benefits customers who made a debit or credit card purchase and received a point-of-sale receipt that displayed more than the last five digits of the card number.
The suit alleged contact lens manufacturers, independent optometrists and ABB agreed to âunilateral pricing policiesâ that prevented competition from online and discount contact lens retailers. This agreement purportedly began in June 2013.
In other cases, price discrepancies arenât so obvious, as seen in a new pre-filled propane tank class-action settlement offer.
NY Gov. Cuomo expands stimulus eligibility requirements to get remaining funds out the door