Metro Cheapo» debit cards

Automatic Overdraft Coverage: Banks Are Getting Even More Desperate

Metro Cheapo — Mon, 26 Jul 2010 20:59:41 +0000

Earlier this month, new federal legislation regarding automatic overdraft coverage went into effect. Banks are still allowed to offer overdraft protection on checking and debit card accounts, but it can only be provided as an opt-in service. It’s no longer automatic or set up by default. As a result, banks are getting more [...]

Decline the Fine: Say No to Automatic Overdraft Coverage

Metro Cheapo — Thu, 08 Apr 2010 15:19:49 +0000

Automatic overdraft coverage, or an overdraft line of credit, is a fat cash cow for banks — worth billions in pure profit — or at least it was. Recent federal legislation now requires that financial institutions ask customers if they want automatic overdraft coverage. Banks such as Chase have launched an aggressive (one might [...]

Are Credit Cards “Safer” Than Debit Cards?

Metro Cheapo — Wed, 10 Feb 2010 16:37:19 +0000

Unsecured credit cards aren't safer than debit cards.

This may sound frightening to some people, but I have a confession to make: I’m living without unsecured credit cards. Scary, isn’t it? I stopped using unsecured credit cards in 2008 — mostly out of indignation and spitefulness, rather than avoiding debt. I hated the [...]