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augie00
11-27-2005, 01:10 PM
Over Thanksgiving weekend I had the pleasure of having my car towed for an unexpected $150 charge. Because I'm really smart and have all my money online, I overdrew from my bank account and my current balance is $-2.24.

So the question is this.

Should I go out today and charge more stuff to my credit card and go even further into the red? Is this a good idea? I really want some sushi, and as things stand I have zero money, zero gas, and zero food. So my card is my only hope for survival. Or perhaps I will go hungry today. Weird. I hope you find my predicament as hilarious as I do.

fwiw, two cashouts should hit Monday morning, so it's not like I'll be in the red for more than even a day.

surfinillini
11-27-2005, 01:12 PM
you're gonna get hit with an overdraft fee unless you have overdraft protection (look into that).

so you might as well continue charging stuff, the fee will be assessed if your -.01 or -1000.00

11-27-2005, 01:12 PM
Yeah, just keep overdrawing; just keep in mind they will charge you $35 for each instance.

11-27-2005, 01:13 PM
No, dont, every purchase you make will come with a 20-30$ fee, so even if you spend 10$ on lunch it will end up costing you about 40$. 'spensive food. Go to a grocery store, buy some gum and get 100$ cash back with a check.

The Truth
11-27-2005, 01:13 PM
[ QUOTE ]
you're gonna get hit with an overdraft fee unless you have overdraft protection (look into that).

so you might as well continue charging stuff, the fee will be assessed if your -.01 or -1000.00

[/ QUOTE ]

I think I agree with this.

Just make sure you can pay for it all later.

blake

11-27-2005, 01:19 PM
Also, netteller debit card is the [censored] for situations like this. You just have to wait 2-3 hours till you can get your money.

surfinillini
11-27-2005, 01:19 PM
[ QUOTE ]
No, dont, every purchase you make will come with a 20-30$ fee, so even if you spend 10$ on lunch it will end up costing you about 40$. 'spensive food. Go to a grocery store, buy some gum and get 100$ cash back with a check.

[/ QUOTE ]

I don't get this...who is your financial institution? Bank of Cuba?

11-27-2005, 01:21 PM
[ QUOTE ]
[ QUOTE ]
No, dont, every purchase you make will come with a 20-30$ fee, so even if you spend 10$ on lunch it will end up costing you about 40$. 'spensive food. Go to a grocery store, buy some gum and get 100$ cash back with a check.

[/ QUOTE ]

I don't get this...who is your financial institution? Bank of Cuba?

[/ QUOTE ]


I believe all the major banks around here (bank of america, usbank etc), charge a per transaction fee. If you over draft your account, once you are in the red, every transaction is assessed a fee, not just 1 fee for being negative.

edit- Im positive USbank charges a fee per trans, because I just switched over to them, and kept a small balance (100$) while my Bank of America account got all my checks cleared etc, and I accidently wrote about 10 checks to my USbank account, becaue I grabbed the wrong book. Ive never over drafted my BoA account

Publos Nemesis
11-27-2005, 01:27 PM
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
No, dont, every purchase you make will come with a 20-30$ fee, so even if you spend 10$ on lunch it will end up costing you about 40$. 'spensive food. Go to a grocery store, buy some gum and get 100$ cash back with a check.

[/ QUOTE ]

I don't get this...who is your financial institution? Bank of Cuba?

[/ QUOTE ]


I believe all the major banks around here (bank of america, usbank etc), charge a per transaction fee. If you over draft your account, once you are in the red, every transaction is assessed a fee, not just 1 fee for being negative.

[/ QUOTE ]

bank of america charges you each time as does wachovia. you're [censored] dude. you should just borrow $. never let your account get below $500 just in case of [censored] like this. also, get a credit card in case [censored] like this does happen and you have no $ on hand.

_2000Flushes
11-27-2005, 01:32 PM
[ QUOTE ]
Bank of Cuba?

[/ QUOTE ]

What does that even mean?

-2kF

surfinillini
11-27-2005, 01:39 PM
[ QUOTE ]
[ QUOTE ]
Bank of Cuba?

[/ QUOTE ]

What does that even mean?

-2kF

[/ QUOTE ]

wamu doesn't do that [censored], some commie must've come up with this practice...

ChipWrecked
11-27-2005, 02:22 PM
You can survive out of Walmart if it has a grocery, on plastic. I've done it. Not saying I recommend it. Didn't say 'live'. But you can survive.

Sponger15SB
11-27-2005, 02:26 PM
[ QUOTE ]
[ QUOTE ]
Bank of Cuba?

[/ QUOTE ]

What does that even mean?

-2kF

[/ QUOTE ]

You know what? [censored] you! How about that?


http://adorocinema.cidadeinternet.com.br/filmes/scarface/scarface01.jpg















yea i'm not really sure either

RacersEdge
11-27-2005, 02:38 PM
What's the connection between your checking account and your credit card?? Two different account for me.

11-27-2005, 02:44 PM
[ QUOTE ]
What's the connection between your checking account and your credit card?? Two different account for me.

[/ QUOTE ]

I can open up a normal credit card with my bank, and if I ever overdraft, rather than get declined/bounce checks etc, it auto charges my CC. I chose not too, because the interest rate is stupid, and I never intend on overdrafting again.

11-27-2005, 02:44 PM
[ QUOTE ]
What's the connection between your checking account and your credit card?? Two different account for me.

[/ QUOTE ]

I'm pretty sure he meant debit card.

Alobar
11-27-2005, 02:44 PM
[ QUOTE ]
What's the connection between your checking account and your credit card?? Two different account for me.

[/ QUOTE ]

im assuming its one of those debit/credit cards

augie00
11-27-2005, 03:07 PM
[ QUOTE ]
[ QUOTE ]
What's the connection between your checking account and your credit card?? Two different account for me.

[/ QUOTE ]

im assuming its one of those debit/credit cards

[/ QUOTE ]

yep

Vavavoom
11-27-2005, 03:28 PM
[ QUOTE ]
Over Thanksgiving weekend I had the pleasure of having my car towed for an unexpected $150 charge. Because I'm really smart and have all my money online, I overdrew from my bank account and my current balance is $-2.24.

So the question is this.

Should I go out today and charge more stuff to my credit card and go even further into the red? Is this a good idea? I really want some sushi, and as things stand I have zero money, zero gas, and zero food. So my card is my only hope for survival. Or perhaps I will go hungry today. Weird. I hope you find my predicament as hilarious as I do.

fwiw, two cashouts should hit Monday morning, so it's not like I'll be in the red for more than even a day.

[/ QUOTE ]

IMO, if they try to charge you for going overdrawn, then do what I do when it has happened to me...

I assume that its a rare thing for you to go overdrawn...it certainly is for me...So if they threaten you with a bank charge...Tell them that you will level the account and then close it down.....Trust me, with so many banks out there, they won't want to lose your custom over being $2 in the red....or over a $35 fee....

Combine this with the fact that you have two cash-outs hitting the account on Monday and that it was a B/Holiday weekend over there in the US...I think if u argue your point to a tiny degree they will waive the fee...

RunDownHouse
11-27-2005, 03:37 PM
Thanks to a misunderstanding on my part, and a credit taking two days longer than it should have on the banks' part, I once made something in the area of 20 charges on a debit card within 48 hours. It was overdrawn from the start, I expected it to be fine, and the debit card didn't start rejecting purchases until much later, for whatever reason.

When it finally did get rejected, I went to the bank, confused as hell. I was presented with a bill of over $500 for overdraw fees.

Since it was "[my] first time," the bank only took about $90 in fees, waiving the rest, and I learned a lesson. Get a credit card, put everything on it, and write one check a month.

11-27-2005, 05:00 PM
I also had to learn the hard way about how debit cards actually work. At the time, I wasn't doing any online banking, relying solely on an ATM to tell me the balance in my checking account. I was a moron. I had recently made a few pretty big purchases with my debit card, but they had been made 6 or 7 days prior to the day in question.

I went out and bought some stuff, keeping easily within the "balance" remaining in my checking account. A couple days later, two weeks worth of debit charges hit my checking account at once. Apparently, its "okay" and "common" for banks to take up to 14 days to debit your account.

Example:
Today, I have $500 in my bank account. I go out and spend $100, using my debit card. For the next 24 hours, my ATM balance (my online banking rocks, and gives me an actual vs a ledger balance, blah blah, so it tallies this kind of crap, until it actually clears) will read $400.

After that 24 hour period, my bank account will again show $500. Until the debit actually clears the account - up to a week, two weeks later? - I'll think I have $100 more than I do in my account.

I was an irresponsible teenager at the time, and a moron at that, but I ended up with something like 14 debits on a negative account. And at $20/each, they wanted $280. I called and raised holy hell, and they waived almost all of the charges, because it was my "first time."

So, uh, beware.

I've since wised up /images/graemlins/crazy.gif

OtisTheMarsupial
11-27-2005, 06:03 PM
Depends. Do you ever do this? If not, I'd say chance it, then go into the bank and explain you didn't understand how the charges work and you're really sorry and can they please make an exception this once and remove some/all the fees.

If you've done this before though, don't do it. Just borrow some money from the parents or something instead.

NutzyClutz
11-27-2005, 06:28 PM
Why did you intentially overdraft? You couldn't haggle it down/pay the balance in cash?