First Credit Card/Bank Account?

For just about anything you want to get off your chest about credit cards.
3 posts
Links
 
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First Credit Card/Bank Account?

Postby Links » Thu Dec 25, 2014 6:24 pm

Hi,

I've had a checkings account that came with a debit card for over a year but I do not like the poor security on the debit card. There have been a few times where unauthorized charges have been made. Since I'll be starting my first job soon, I would like to have a safer place to keep and manage my money.
So I've been researching checking vs savings accounts with different banks but I'm a bit confuse on how to go about the credit card. If I open either type of accounts can I get a credit card or do I have to apply for that separately? And how would direct deposits of checks come into play in regards to all of these? Can I access my direct deposit money with my credit card or do I need to also have a debit card? And can my credit card balance be paid off directly from either checking or savings account? :confused:

Thanks for the help and advice everyone and happy holidays!


takeshi
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Postby takeshi » Fri Dec 26, 2014 9:12 am

Credit cards are separate. You don't have to have a checking or savings account to get a credit card.

Links wrote:And how would direct deposits of checks come into play in regards to all of these? Can I access my direct deposit money with my credit card or do I need to also have a debit card?

They're irrelevant to credit cards. You have a credit limit with a credit card and your charges go against that limit. You can certainly use funds from your direct deposit to pay your credit card but you can't use your credit card to access funds from another account.

mathman314
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Postby mathman314 » Mon Dec 29, 2014 11:40 pm

Credit cards are a separate entity from debit cards and C/S (checking/savings) account. With credit cards, you are given a set limit and whatever you charge gets deducted from that number. I like to think of credit as paying for your item without paying for it at that moment of purchase (of course, thinking like that comes with a line of responsibility.)

So you cannot hook up your credit card to you bank account and say "I want the purchases to take money out of this account." You can pay your credit card with those funds though. So a debit card isn't entirely necessary with a credit card, hell I'm on break and I left my debit card in my dorm intentionally.
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