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Debit card spending limits of 50-100 bucks thoughts on how the Wall Street Reform will affect the little guy?

http://money.cnn.com/2011/03/10/pf/debit_cards_limit/index.htm

I personally don't want to carry a few hundred bucks around with me when making a purchase or put something on my credit card. Most stores other than the big box stores don't accept checks in my area. So if this is implemented when making a larger purchase a person will need to risk carrying a lot of cash around, hope the place takes a check or get a credit card if you have decent credit. I am curious how others feel about this?

I understand why the banks would do this if it isn't making them money or costing them money things will have to change. I just wonder if our legislature really thought about the consequences of the bill. This isn't the only one I have seen either.

Please keep it civil if possible.lol

Answer Question
 
Anonymous

Asked by Anonymous at 11:38 AM on Mar. 10, 2011 in Politics & Current Events

Answers (21)
  • that would screw us
    on grocery shopping
    we use our card at our grocery stops
    Anonymous

    Answer by Anonymous at 11:39 AM on Mar. 10, 2011

  • Can't you use your debit card AS a credit card? I can.
    Anonymous

    Answer by Anonymous at 11:41 AM on Mar. 10, 2011

  • This entire article is based on speculation.... When the Government intervenes, the private industry tends to respond.... Did you expect something different? Personally, I am not worried about my bank...
    grlygrlz2

    Answer by grlygrlz2 at 11:43 AM on Mar. 10, 2011

  • I would hate for that to happen. I don't want to carry around cash either. I'm quite happy with using my debit card for everything. I wonder if this applies to bills as well, because I use my debit card to pay my power, insurance, water, and phone bill. That would really suck.
    lovingmy4babies

    Answer by lovingmy4babies at 11:43 AM on Mar. 10, 2011

  • I'm with anonymous. I make a short trip once a week for bread, eggs, fruits and veggies, and milk. At the beginning of the month I fill my freezer and I spend well over 100 dollars.
    Crystal1124

    Answer by Crystal1124 at 11:45 AM on Mar. 10, 2011

  • Use your debit card as a credit card and there won't be a problem. Also, banks DO make money on these purchases. Stores are charged for every debit/credit card purchase made. That is why some places charge for debit card purchases.
    tyfry7496

    Answer by tyfry7496 at 11:46 AM on Mar. 10, 2011

  • i can use it as a cc
    but we are
    charged a fee
    for it
    Anonymous

    Answer by Anonymous at 11:46 AM on Mar. 10, 2011

  • One bank is reported to be doing this because reform would cut into their (fat) bottom line. Well, it's an easy answer for me, as a customer of that bank...

    I'd be changing to ANOTHER financial institution.

    I'm sure a lot of customers will be doing the same should it happen. What would that cost them?
    gdiamante

    Answer by gdiamante at 11:46 AM on Mar. 10, 2011

  • I'd be changing to ANOTHER financial institution.


    I'm sure a lot of customers will be doing the same should it happen. What would that cost them?


     


    ~Exactly.... I can see them doing this for people who have had multiple incidents of Insufficient Funds/Poor credit... But overall ALL customers? I don't see it... It would be bad for business..

    grlygrlz2

    Answer by grlygrlz2 at 11:48 AM on Mar. 10, 2011

  • ah. Unintended consequences, again, eh?"
    lovinangels

    Answer by lovinangels at 11:51 AM on Mar. 10, 2011

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