zemming wrote:Arcane_Scroll wrote:I recommend using those for any online purchase. It gives you a line of defense between your bank account and the internet. The Walmart money cards are awesome, cheap, work as a Visa card, and accept direct deposit and tax refunds. You don't even need a bank to have one, I told the banks to f*** off years ago and switched to these. Don't want direct deposit? Just add the money, for free, at any Walmart register. If some website steals your card number, the most they can do is take what you happen to have on it at the time. That right there has saved my butt a couple times now
- Credit Unions are typically better than banks, and have far more protections (legal and otherwise) over your money than a WalMart money card.
- Credit cards have far more protections (legal and otherwise) over your money than a WalMart money card.
- Credit cards are easy to apply for and as long as you pay your balance before it's due, you don't pay interest.
- If someone steals your card number, your card provider will refund you everything instead of losing everything loaded on a WalMart money card
Please please please check out the
personal finance subreddit and read through
their FAQ.
No one solution is the best for everyone, but understanding your personal finances and what solutions are out there that are the best for
your situation is something everyone should invest time figuring out.
Only keep as much as you need on your card. There is no reason to keep all your funds in a single place. Multiple cards, multiple companies, spread out evenly, lessen the risks. Only put what you need on your spending card. Someone steals that card, big whoop, they get a few bucks, a text message sent to me stating the time and location of the purchase, a cop sent to check footage, and some jail time. All I'm out is a few days lunch money.
If you happen to over spend on a credit union/bank card, expect to be hit with absurd fees for every single transaction. I have been hit with a $25 fee four times in a single day just using my credit union card in a soda machine because it would still go through despite the lack of funds. What happens when I try that with my Walmart card? Nothing, because the funds aren't there. If credit unions and banks would stop being so sleazy with their money grabbing then maybe I would start using them again. But as it stands, every credit union and bank will go out of their way to not only hide disgraceful money grab practices from their customers, but will constantly come up with new tricks.
?
