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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: John McCarthy who wrote (106511)1/15/2010 2:24:54 PM
From: benwood1 Recommendation  Read Replies (2) of 116555
 
I always sent back my Visa Debit card and asked for an ATM-only card, good for Point-of-sale with the PIN, partly because it's less risky (in my view) but also because I knew the fees were dramatically lower.

Eventually, my credit union dropped the ATM card entirely and said if I wanted a card, it HAD to be the VISA card (debit, sign and they get a much fatter fee).

I rarely use it by signing -- just once in the past couple years, and use the PIN nearly all the time. But most people undoubtedly sign for transactions, because that is the big push, and VISA skims 3% or so, passes some off to my financial institution, and the retailer doesn't care because they raised prices 3% to compensate.
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