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pike
Premium,MVM
join:2001-02-01
Washington, DC
kudos:3
reply to joako

Re: Who is the American Express of checking?

I don't really care for Fifth Third bank, but they offer an interesting product called the Duo card.

When you use it with a PIN, it functions as a regular debit card, deducting balances from your checking account. When you use it online or with a signature, it functions as a credit card, charging the balance against a line of credit.

It seems to be a good trade-off of convenience and security because you get all the zero-liability protections of a credit card for online and signature transactions. You just need to remember to pay the credit balance off each month I suppose.



Hayward
K A R - 1 2 0 C
Premium
join:2000-07-13
Key West, FL
kudos:1

said by pike:

It seems to be a good trade-off of convenience and security because you get all the zero-liability protections of a credit card for online and signature transactions. You just need to remember to pay the credit balance off each month I suppose.

Well I'd like to see that agreement (not really... not being a lawyer) but I highly doubt if not mandated they would voluntarily provide all the benrfits of a credit card.

A line of credit is still your money/debt not theirs as a credit card is.
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hitachi369
Embrace Your Rights
Premium
join:2001-10-03
Grand Rapids, MI
kudos:4

said by Hayward:

said by pike:

It seems to be a good trade-off of convenience and security because you get all the zero-liability protections of a credit card for online and signature transactions. You just need to remember to pay the credit balance off each month I suppose.

Well I'd like to see that agreement (not really... not being a lawyer) but I highly doubt if not mandated they would voluntarily provide all the benrfits of a credit card.

A line of credit is still your money/debt not theirs as a credit card is.

»www.53.com/doc/pe/pe-rules-regs-grp.pdf

It's a true credit card. The consumer's funds are not used in the line of credit for signature transactions, but a PIN transaction would process from the checking.

They also can overnight a card to a retail center, but it would depend on the relationship of the customer.
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