Re: OT - Best Business Credit Card?



Rachel wrote:

Cal Vanize wrote:

Rachel wrote:

Sylvain wrote:

Rachel wrote:

American Express, hands down.




I've never had a problem with anyone accepting mine. 





do you travel abroad much?  I got rid off my amex years
ago because of that;  and in many situations/places,  taking
your business elsewhere is not an option...

--Sylvain




International travel is what I use the debit card for.




"Float" has more meanings that being lighter than air or water.


Excuse me? I don't float checks and never have. What is your real issue? 



My real issue?  Consumer education and common sense.


Money management:

You can float purchases on credit cards until the monthly bill comes due. Then it can be paid in full for all the previous month's purchases even if the purchases might have been actually made over a month ago (depending on a cardholder's "float management" and the closing date of the billing cycle). Pay the bill in full on time and there's no interest, monthly minimum, extra monthly fees. The banks take advantage of those that are careless or delinquent. Pilots, by need, tend to be very organized and should never experience this problem.

A "debit" transaction is a withdrawl from a deposit account (usually savings or checking) and immediately pays for the transaction removing your ability to use your money. There is absolutely no advantage to a debit card over a cash transaction except that you don't have to carry around cash or that you can use it on the internet (never use your PIN on the internet).

Fraud / disputes:

In the event of fraud against your credit account, its just a matter of disputing a transaction and its removed from your bill until the dispute is resolved. You're not required to pay for it unless the dispute settlement rules in favor of the merchant. It then becomes the BANK's money involved in dispute resolution.

If there's fraud against your debit account, YOUR money is already gone and YOU have to fight to get it back (regardless of what the advertisements say). The dispute is over YOUR money that needs to be REPLENISHED. You've lost control over your funds, somebody else got their hands on YOUR money. On a PIN-based transaction verified by the card issuer, the issuer is responsible (read "the cardholder is liable"). There are a few exceptions, but this is generally the way it is.


That's the rules of the business (and the Fed) regardless of whether its Visa, MasterCard, Citi, Bank of America, or Mom and Dad's State Bank and Deluxe Chinese Buffet Catering and Vetenrary Service.




.

Relevant Pages

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