Actually no, because debit cards aren't considered credit. They are called "Automatic Clearing House" or ACH Transfers in which a "house" holds and clears a bulk amount of money each day Dependant on checks and balances - or, deposits and withdrawals.
Credit transactions, or, short term revolving adjustable rate loans, are a set amount of money the bank owns until you "borrower" it, with a promise to borrow and pay a limit amount. Credit transactions feed credit reporting agencies, which feeds scores. Consumer scores effect the economy on the upswing because the banks look to the government for restrictions on lending - primarily credit history.
If a consumer doesn't have allowable credit conditions, you cant lend. That means that customer will not be spending any money, or paying any interest. Well...
banks don't like that, and neither do credit unions, and currently the IRS, Lending Institutions, and other *ahchoo*Libor*achoo* uh, types of places are looking to the government to loosen restrictions and allow for better long term bulk invested funds.
in the banks.
oh... well so no, debit cards aren't tracked, they arent considered credit.
The government is up the ass of every entity that even sneezed FDIC Insured. I think they put that under the category "proactive intervention."
They're cutting the loses of their own insured foreclosure.
before they happen.
oh, and credit card numbers are normally 12-15 digits depending on the bank.
a debit card is really the 5-8 digits of your checking/savings account... and the ach common before it.
7 comments:
this is why i only carry a debit card.
i wonder if it's any electronic transaction whatsoever...
if it has eight digits on some plastic...
Actually no, because debit cards aren't considered credit. They are called "Automatic Clearing House" or ACH Transfers in which a "house" holds and clears a bulk amount of money each day Dependant on checks and balances - or, deposits and withdrawals.
Credit transactions, or, short term revolving adjustable rate loans, are a set amount of money the bank owns until you "borrower" it, with a promise to borrow and pay a limit amount. Credit transactions feed credit reporting agencies, which feeds scores. Consumer scores effect the economy on the upswing because the banks look to the government for restrictions on lending - primarily credit history.
If a consumer doesn't have allowable credit conditions, you cant lend. That means that customer will not be spending any money, or paying any interest. Well...
banks don't like that, and neither do credit unions, and currently the IRS, Lending Institutions, and other *ahchoo*Libor*achoo* uh, types of places are looking to the government to loosen restrictions and allow for better long term bulk invested funds.
in the banks.
oh...
well so no, debit cards aren't tracked, they arent considered credit.
The government is up the ass of every entity that even sneezed FDIC Insured. I think they put that under the category "proactive intervention."
They're cutting the loses of their own insured foreclosure.
before they happen.
oh, and credit card numbers are normally 12-15 digits depending on the bank.
a debit card is really the 5-8 digits of your checking/savings account... and the ach common before it.
I used to have sex.
Have I mentioned my appreciation for the handicap verification utility?
it's really snazzy.
listen lady,
I'm the smart guy around here!
Riddle me this:
when using their 'debit' card... their checking account card, do not most people hit 'credit' on the point of sale machine?
ps, you will always be 'the sex'
dude, that's the only reason people come here
for serious
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