The Bank Says They Can't Do This...

The Bank Says They Can't Do This...

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[austinbarnhart]

Our company spends 90k a year on fuel just to put those on credit cards and get 2% cash back would be 1800 a year. Money is money.

[RomanRevko-gxbg]

It’s not the same risk. Commercial debit cards are not fraud protected.

[nhtmhhj]

Daves wrong on this one. NEVER hand an employee access to the company bank accout.

[jonathanbranyon]

As a truck driver, every driver at my company, thousands of drivers, every SINGLE one has a debit card for fuel. Thousands of cards. Each individually assigned.

[shellyd]

"It is the same risk either way" NOT TRUE! There is less risk to using credit cards due to protections they have for unauthorized usage aka fraud (as one example).

[AlonzoLivin]

Simply get a charge account, employees name is authorized by ID and they sign.
Easy peasy

[rickpark]

You could still pay credit cards off in full each month like I do and you could have a lot of points that once in a while the points pay off your monthly payment.
Plus, I believe there’s more purchase security with a credit card over a debit card.

[henryh]

The risk with a debit card is if it's compromised or there is a fraudulent charge.

[brendoncrum]

Not the same risk at all fuck debit cards 😂

[jamieswithenbank]

There are card companies that do this for business clients, but they are mainly US based. Of course a debit card is more or less functionally the same as a credit card, except it keeps more cash locked up - but it can be a functional alternative.

[therandysmith]

This is my biggest issue with Ramsey. I’m all for getting out of debt. And I’m all for not using credit cards. But sometimes they are required. You cannot rent a hotel room with a debit card. I have tried. They do not allow you. I have tried multiple times for work to rent a car. They do not allow you.

[sorcdk]

This is one of those cases where the US is really weird. Here in the EU it is much, much harder to get credit cards compared to debit cards. When you have a bank account here you usually get a debit card by default. Comparatively you have to submit to some giant review of your finacials and stability to be able to get a credit card, because you basically have to show prior reason for the bank to loan you money arbitarily. In that sense there is a lot less risk involved with debit cards compared to credit cards.

[andrewknowlton]

I literally work at a multi-billion dollar company (im pretty much the bottom of totem pole), but every district manager has a debit card, and ever building has a debit carf for deposits or refunds

[anthonyharris]

Dave is correct, I’ve had multiple corporate debit cards. It is interesting though why the corporate credit cards would be a problem if you’re paying them off. It would essentially be the same thing as a debit card.

[rockymntnliberty]

Another option, and if perhaps a better option because you can control it, is a prepaid credit card. If you have an employee going to a conference for the day, and they need a card, you put $1, 000 on it and they bring the card along with receipts back if the balance isn't equal, they have some splainin to do.

[blaket]

Yeah I have a company credit card. I'm low on the totem pole so have no say in what kind of card I am issued. Now we DO have the option of using our own debit card and getting reimbursed from the company. Dave would probably prefer that method but for me it's too much of a hassle.

[kindcounselor]

Dave, I use my credit card but pay it off monthly: you can dispute a charge with a credit card.

[ShaunPatterson]

This is stupid with a bunch of 0s after it

[KaviGP]

A credit backed system in the USA, other countries have protected and limt restricted debit cards.

The whole credit card protection means nothing as the process for fraud is now the same for most banks.

[imxploring]

Not the same... debit transactiond come out of your account and you have to fight to get YOUR money back if there's an issue... Credit cards allow a dispute with no out of pocket pending the investigation.
Credit cards also usually have other cash back incentives.