If I choose “credit” w/ my Visa check card, is it reported to Transunion, etc, like a credit card transaction?
Question by stuart m: If I choose “credit” w/ my Visa check card, is it reported to Transunion, etc, like a credit card transaction?
When you choose “credit” with your visa check card instead of “debit” and you have sufficient funds in your checking account to cover the charge, is the charge nonetheless reported to the three credit agencies as a credit transaction? I want to know because my credit report said my FICO score will increase if I reduce my debt to income ratio.
Best answer:
Answer by stephenweinstein
Neither check card transactions nor credit card transactions are reported to the three credit reporting agencies. Credit card BALANCES are reported (monthly or less often) to the credit reporting agencies, but individual transactions are not and neither are check card balances.
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Categories: Credit Score Questions Tags: Card, Check, choose, Credit, credit card, like, reported, transaction, TransUnion, Visa
Q&A: When using a Visa debit card is it better to use it as “credit” or use a pin number and hit “debit?”
Question by Granny: When using a Visa debit card is it better to use it as “credit” or use a pin number and hit “debit?”
I’m wondering if there is better protection or lower fees with one or the other.
Best answer:
Answer by Thomas E
It’s probably BETTER to use it as a debit card.
Of course there ARE credit card fees; as a matter of fact, I read the other day that some “mom-and-pop” gas stations have stopped allowing the use of credit cards to pay for gasoline for that very reason – the fees eat into their profits. The people who sell gasoline actually make very little profit (maybe 12 cents per gallon), and the credit card companies base their fees on the total sale, so, since gasoline costs so much now, the fees can run as high as 10 cents per gallon, leaving very little profit. By the time gasoline hits the retailer, big oil has already gleaned all the profit, but that’s another story.
On the other hand: Use it as a debit card, and I think that the bank takes some fees; although I am not sure of that, it makes sense to me that that would be the case, since banks also are very greedy when it comes to “fees”.
Either way, though: If it works like mine does, the money is deducted from your account immediately, so at least YOU don’t have to worry about a credit card bill. And YOU will not be charged any fees either way – only the merchant.
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What is the minimum credit score required to get a Amazon Visa Rewards card?
Question by Le All Knowing…………Mostly: What is the minimum credit score required to get a Amazon Visa Rewards card?
I am 20, and according to Experian, my credit score is 712. According to Equifax & TransUnion, my credit score is 700. What is the minimum score required to get that type of card. Also, what is the credit score required to get a Amazon Store Card?
I already have a credit monitoring program. I don’t need any others. I just want my question answered.
Best answer:
Answer by KMcG
No idea what that score would be, but you shouldn’t have any problems with a score that high.
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