It's Time to Ditch Your Debit Card!

I know many many people use their debit cards instead of cash or credit cards, and so does YOUR BANK!

In an attempt to further increase THEIR profits using YOUR money, they are now "testing" and implementing numerous additional charges for YOU to pay to access your own money.

Bank of America has already announced it's new $5.00 per month charge to use it's debit cards. Wells Fargo, SunTrust, and Chase have already eliminated debit rewards programs, and Chase, PNC, and TD Bank are already "testing" ATM fees as high as $5.00 a pop in some markets.

What is the alternative? TRY CASH! Or if you prefer the convenience of a card, use a credit card and pay off your balance every month to avoid interest and fees. In addition to convenience, most credit cards still offer "cash back" or "reward" programs. I like to use a credit card for daily expenses so that I don't have to keep up with every little transaction. I get an itemized statement and pay it every month. Much easier than keeping up with every time you use a debit.


In addition, credit cards offer much better protection than debit cards in the event of loss or theft. You are limited to minimal loss on a credit card, yet you can risk losing everything in your checking account if you don't report the loss or theft before a debit card is used.


Wonder why banks like people using their debit cards so much? Now you know. Fight back, just say NO!


American Me? the book            www.americanmeus.com