posted
Or, Why I Almost Wish I Hadn't Gone to WenchCon...
In order to confirm my room, I used my debit card; I don't have a credit card (too much danger of overspending) and I had gotten used to using my bank card in its place. For most things, it works fine.
But the hotel held over $400, and is _still_ holding it. Tomorrow I mean to call and ask how long they plan to keep their grubby hands on my money, because I really need it back. I was overdrawn until my paycheck came on Thursday, and that only brought me up to about $25.
Surely Wingate Inn has had enough time to confirm that I didn't trash the room! Posts: 1041 | Registered: Feb 2002
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posted
I can't tell you how often I see this at the bank. Hotels need some kind of warning posted in the lobby. Mac, have you considered a secured credit card? You put the money up first, preferably in a two year CD, then borrow against it. The beauty of the CD method is you earn interest to help offset the interest you rack up.
Posts: 2283 | Registered: Dec 2003
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I hadn't thought of it, AR. Tell me, how much money does something like that take? Especially if the hotel delays much longer, it will take some time for me to get back on stable footing (due to overdraw fees, mostly).
Posts: 1041 | Registered: Feb 2002
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posted
NEVER use your debit card for anything but supermarket type expenditures.
Look at it this way, if some unscrupulous person (or commerce web site) decided to charge your card, you'd lose that money until you could get straightened out. That's real money, rent money, mortgage money, not the "funny" money on credit cards. If a credit card is charged improperly, you only need to pay the minimum balance while it gets sorted out.
It DOES suck that hotels do that though. I had that problem when I was interviewing for jobs out of college. It freaked me out.
Just get a credit card with a $500 buck limit. They give them to people with no previous credit. Or the secured card option.
I worry though that if you can't handle a credit card, how will you be able to handle a mortgage, or student loan. better to mess up with a couple grand than a $100,000 mortgage... Of course, without previous credit, it will be harder for you to get the mortgage.
Trust me, a little credit goes a long way. You ARE responsible enough.
posted
Well, Bokonon...I've never had any trouble handling student loans. At least, not any conventional problems--when you're broke, and I mean totally flat busted, there's not a great deal you can do. (This particular loan went into default before I wised up; later my newfound wisdom did me no good.)
Good news, though--just before calling the hotel to complain I checked my account online. The money is safely back in my pocketses. Whew!
Posts: 1041 | Registered: Feb 2002
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Pure corruption, Maccabeus. Legal, but pure corruption. The MBA's have decided that 'receivables collected as early as possible and debts repaid as late as legally delayable' is a "best business practice". Using other people's money: costs them nothing; allows them to collect bank interest, or avoid paying interest to the bank; and adds to the assets side of their bookkeeping.
And yeah, a single customer's money doesn't add much, but there are many many customers.
Since you've already gotten your money back, it looks like Wingate is much more honest than many. I'd certainly feel comfortable booking a room with them.
Considering the amount of time that banks are allowed to complete a transaction, betcha it was your bank that delayed the transfer of a nearly-immediate Wingate refund sent to your bank's account over to your own account. Then hit you with an overdraw charge, even though your bank was sitting on your money. Unfortunately, it's legal.
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did they actually have the money, or did they just have a hold on the money? Having them money is an odd practice, usually a company just puts a hold on the money.
Posts: 15770 | Registered: Dec 2001
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It was a hold on the money--it wasn't actually in their possession. I believe I said that at the start, but shortened it for convenience' sake after a bit.
Posts: 1041 | Registered: Feb 2002
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Macc, I would go talk to the bank, it is normal for them to be understanding and reverse the overdraw fee. Worse they can do is say no, but I think they will.
Posts: 38 | Registered: Sep 2001
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