Adjust Text Size  The Downside of Debit Cards  Written by Nickel
- 22 Comments  Yesterday I wrote an article praising the
convenience of debit cards. Today, I thought I’d shed some light
on one of their major potential downsides…  Last week I was out
of town on a work-related trip and staying at a Holiday Inn.
When I reached first reach my destination, I was greeted at the
check-in desk by a sign warning debit card users about their
payment policy. It seems that if you use a debit card at this
particular location, they will charge your account for the cost
of the room plus a projection of your incidentals (phone use,
restaurant charges, etc.) and an unspecified deposit. The sign
went on to state that unused funds would be restored to your
account within 7-10 days of checkout.  While the policy of
placing a hold on a portion of your credit line or bank balance
(in the case of credit cards or debit cards, respectively) is
pretty standard stuff nowadays, the policy at this particular
hotel seems a bit over the t