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Tivo Billing Q
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Posted by: Keith_R90210

Hey guys, I just recently got my new checking card and got to thinking that instead of keeping the TiVo on someone else's credit card I could instead give them my checking card # and they could just take the money out of my checking account automatically. Does anyone know if this is possible? thanks.

Posted by: cptodd

This is how I used to do it when I did monthly.

Posted by: mike3775

Thats how I did it until I saved up enough for the lifetime plan.

As long as it has a visa/mastercard logo on it, it will work just like a credit card.

Posted by: phone1

quote:
Originally posted by mike3775
As long as it has a visa/mastercard logo on it, it will work just like a credit card.

Sure, until there's a problem.

If you do in fact have one of these "fake" credit cards (a debit card) be very careful how and where you use it. If there is any fraud or error (I'm not singling out TiVo here, just generalizing), the money is immediately debited from your checking account, perhaps even causing an overdraft and other checks to be returned unpaid. By the time you realize there's a problem, it'll be too late. You may have to wait weeks to get your money back.

With a real credit card, although your account may be charged, you have an opportunity to dispute the charge before you pay it.

Debit cards are a horrible risk, foisted upon people by their banks so that the bank can save money on transaction costs. Stay far away from them and use only ATM cards (which require a PIN) and real credit cards.

Posted by: mike3775

I have had my check/debit card for 3 years and not one time has t ever caused me any problems. In the same time frame, I have had several problems with my Credit Card where I had to wait until the monthly statement came in the mail to check it, with the bank card, I go online and its updated about 30 minutes after the purchase is made.

To say they are a waste, keep in mind that some people do not want to have a credit card as well. I am 28 years old, and have 1 credit card, that sits at $0 balance for the majority of the year. About the only time it is used is when I go and keep it active by purchasing a $20 movie or something at Best Buy, and then when the bill comes, I pay it off in full. I do that about twice a year, otherwise its never used. I have no need for a credit card as my philosphy is, if I can't afford it, I don't need it. And if I need it, I can save for it, that way its mine from the get go and I don't have to pay some bank or corporation a shitload of interest for a simple purchase.

My bank didn't force it on me. I went to my bank because I got so sick of writing so many checks over and over and also hated carrying a checkbook everywhere I go. With this debit card, I no longer have to show ID to purchase anything, and its treated just like a credit card at the stores. When I purchase anything with it, I have to enter a 6 digit pin number to even use it as well(for debit or credit) so how is that any unsafer than a credit card where you don't even have to enter a pin number?

To say they are a bad idea is mistaken. Sure some banks may be jerks when it comes to fraud, but my bank handles those things ASAP and never holds the cardholder responsible for something they cannot control. My friend had his stolen, and he reported it to the bank the same day and sure enough, he got a phone call from the local Circuit City saying someone tried to purchase $3000 worth of items on his card and it had been reported stolen. No different than what happens when you report a credit card stolen.

Posted by: mmascari

quote:
Originally posted by mike3775
I have had my check/debit card for 3 years and not one time has t ever caused me any problems. In the same time frame, I have had several problems with my Credit Card where I had to wait until the monthly statement came in the mail to check it, with the bank card, I go online and its updated about 30 minutes after the purchase is made.

I can go on-line or phone and check all of the current transactions with my credit card. No advantage for either type, just depends on the credit company or bank.

quote:
Originally posted by mike3775
To say they are a waste, keep in mind that some people do not want to have a credit card as well. I am 28 years old, and have 1 credit card, that sits at $0 balance for the majority of the year. About the only time it is used is when I go and keep it active by purchasing a $20 movie or something at Best Buy, and then when the bill comes, I pay it off in full. I do that about twice a year, otherwise its never used. I have no need for a credit card as my philosphy is, if I can't afford it, I don't need it. And if I need it, I can save for it, that way its mine from the get go and I don't have to pay some bank or corporation a shitload of interest for a simple purchase.

I'm a little older, but I've been using my credit card the way you use your debit card since well before I was 28. I use it for everything that will take it, and pay the bill in full each month. I never have to pay any interest, get bonus points for whatever, plus have 25 days to pay the bill and up to 30 days before I get the bill for a charge (depends how close to the bill date the charge is made). This means I have all the same advantages you have, plus earn the measly %2 interest on my money for an extra 40 days on average it's in my savings account. Yes it takes discipline to not spend more than you have, since a credit card has a higher limit than the available cash in a bank account. Advantage credit card for letting you hold the money longer, advantage bank card for keeping you from spending more than you have.

quote:
Originally posted by mike3775
My bank didn't force it on me. I went to my bank because I got so sick of writing so many checks over and over and also hated carrying a checkbook everywhere I go. With this debit card, I no longer have to show ID to purchase anything, and its treated just like a credit card at the stores. When I purchase anything with it, I have to enter a 6 digit pin number to even use it as well(for debit or credit) so how is that any unsafer than a credit card where you don't even have to enter a pin number?

If you have to enter a pin for all purchases, then it doesn't really work the same as a credit card. Can you use it for on-line purchases?

quote:
Originally posted by mike3775
To say they are a bad idea is mistaken. Sure some banks may be jerks when it comes to fraud, but my bank handles those things ASAP and never holds the cardholder responsible for something they cannot control. My friend had his stolen, and he reported it to the bank the same day and sure enough, he got a phone call from the local Circuit City saying someone tried to purchase $3000 worth of items on his card and it had been reported stolen. No different than what happens when you report a credit card stolen.

The fraud issues is exactly what phone1 was referring to. For credit cards, there are laws about how liable the card holder can be. The fact that all credit card companies only hold you liable for $50 isn't a coincidence, it's a law. For a debit card, no such law exists. Some banks may have the same policy, but many don't. Also, since the money is gone immediately, you have to work to get it back, instead of not paying it. In the case of the stolen card, if it wasn't reported until the next day as being stolen the day before, the $3000 would already be gone, and it would need to be recovered. During the recovery process the card holder is out the money. In the case of a credit card, no money would be lost yet. Every debit card has a different policy for this scenario, while credit cards all work the same. That's the reason to favor a credit card.