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Forum
-> Household Management
-> Finances
amother
Mint
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Sat, Feb 23 2019, 11:06 pm
How do I set up a credit or debit card that would have some sort of cap on it (ie $500) but that I could perhaps “fund it” (make more money available occasionally if needed)?
TIA
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ra_mom
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Sat, Feb 23 2019, 11:07 pm
Set up a checking account with $500 in it and use the debit card they give you the way you would a credit card - can be used as long as there's money in the account to cover the purchase.
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amother
Navy
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Sat, Feb 23 2019, 11:11 pm
American Express is the only one I found I can do that on. It entailed opening two cards, one under my name & one under DH. The primary one you can’t choose your limit but secondary one u can. So we only use the secondary card -which we put a cap on. With a phone call the amount could be adjusted too.
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amother
Mint
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Sat, Feb 23 2019, 11:11 pm
I have a few bank accounts with debit cards but they all function as debit/credit cards (despite saying only debit on them). Are you saying I can ask the bank for (or find an account that has) a debit card only feature?
Please excuse my ignorance 😳
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amother
Mint
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Sat, Feb 23 2019, 11:13 pm
amother wrote: | American Express is the only one I found I can do that on. It entailed opening two cards, one under my name & one under DH. The primary one you can’t choose your limit but secondary one u can. So we only use the secondary card -which we put a cap on. With a phone call the amount could be adjusted too. |
That would be perfect. Do you know if this applies to all Amex cards (I have a few)?
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ra_mom
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Sat, Feb 23 2019, 11:23 pm
amother wrote: | I have a few bank accounts with debit cards but they all function as debit/credit cards (despite saying only debit on them). Are you saying I can ask the bank for (or find an account that has) a debit card only feature?
Please excuse my ignorance 😳 |
A debit just means that each time you swipe, that amount is paid out for your account, and that you can only spend what you have available. Same for withdrawing money from an ATM using the card.
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creditcards
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Sat, Feb 23 2019, 11:28 pm
amother wrote: | That would be perfect. Do you know if this applies to all Amex cards (I have a few)? |
I think it applies only to those cards you have directly with American Express.
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