Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays.
Here’s a cautionary tale for those of you that prefer debit cards over credit cards… Earlier this week, someone at Dreamhost accidentally typed the wrong year into their billing software. The end result was a wave of inadvertent overbilling to the tune of more than $7.5 million.
Not only did this error annoy the vast majority of their customers, but it actually caused serious financial hardship for some. Indeed, although they’re refunding everybody’s money, those that had debit cards on file lost the money straight out of their bank accounts, and many ended up with overdrafts (read through the comments here). At least one customer even reported have their mortgage payment bounce because of this error. Not good. But for those that had credit cards on file, it was no big deal. Dreamhost restored the funds and life goes on.
So… It looks like my list of reasons that credit cards rock and debit cards suck just got longer.
- How to Become a Millionaire
- How to Get Out of Debt
- The Best Dollars I've Ever Spent
- How Our Estate Plan is Structured
- How We Paid Our Mortgage In Less than 10 Years
- Money Making Ideas
- How to Manage Your Asset Allocation with Multiple Accounts
- Consumption Smoothing - Save While the Saving's Good
- How to Save on Groceries
- How Much Life Insurance Do You Need?
- Eleven Great Books About Money
- Dave Ramsey is Bad at Math (693)
- Dish Network Customer Service SUCKS (537)
- $8,000 Homebuyer Tax Credit (429)
- Pay Off Mortgage Early or Invest? (424)
- How to Claim the First-Time Homebuyer Tax Credit (352)
- Termite Control: Sentricon vs. Termidor (330)
- How Much Should You Pay a Babysitter? (291)
- Ethanol Blended Gas = Lower Mileage? (273)
- Reduced Credit Limits? Share Your Experience (256)
- $15,000 Homebuyer Tax Credit (242)
- Buying Furniture off the Back of a Truck (237)
- Will Mac OS X Lion Kill Quicken 2007? (191)