The smart way to use a debit card. And under federal law, credit cards provide much better fraud protection than debit cards. Bottom line: Using your debit card is just as safe as using a credit card. But if the credit card issuer doesn't believe you, you can try and prove the charges were unauthorized. If you have to use a debit card, one way to limit the potential damage of theft is by setting up separate accounts. If there’s a “tip” field/line on a receipt that doesn’t require a tip or you aren’t giving a tip, take the extra precaution of writing in $0.00 on that line. Plus, a lot of credit cards offer extra perks, like extended warranties, on certain purchases. The dos and don'ts of debit cards March 22, 2012 03:02 But the anonymity allowed by the cards increases their appeal to money launderers and drug traffickers, analysts contend . -- When you receive a credit or debit card in the mail, immediately sign the back in ink. Who doesn’t love a debit card? Keep the list in a safe place in your home in case you ever need to report lost or stolen cards. Ideally, you should only use a debit card when you absolutely have to — like to get money out of the ATM. Using a credit card is a much better option. The same goes for mailings offering credit or debit cards. As the technology used by criminals gets cheaper, so does the cost of hacking to Americans’ bank accounts. Debit Cards. Check your accounts and statements daily. Debit Card Fraud Fraud may not be the most common risk but it is definitely one that weighs on peoples minds. Let’s run down some of the risks of debit card usage, both legal and illegal, and what consumers can do about them. which leads to more debt. LIVE: House, Senate debate second challenge to Biden's victory, Woman shot, killed in Capitol building is from California, As mob storms Capitol, Ted Lieu asks Pence to remove Trump, Armed robbers assault SF woman, steal 5-month-old French bulldog, Hilltop Mall situation grows worse as Macy's closes permanently, The story behind that odd pantry in the wall in old SF homes, We finally know who donated $500,000 to recall Newsom. — in a separate account, or accounts, so the money has a much smaller chance of being compromised. Extremely Convenient "The reality is that most bank issuers are going to give you the benefit of the doubt," he said. BUT — if you’re putting a big purchase on a credit card, be sure you can pay it off before the due date to avoid paying interest, which just makes whatever you bought more expensive. Even if the email or text looks legitimate — with the bank’s logo etc. "We're doing the same thing (to inform consumers about debit cards) as we would do to tout the benefits of debit cards," said Wells Fargo spokesman Rod Sherrell. Be sure to take the name of the person you talk to, and make a copy of the letter you send. The Danger In Your Debit Card If you swipe or insert your debit card, happy in the knowledge that you’re paying cash versus racking up credit card debt, stop. Plus, you won’t have to deal with a big chunk of cash suddenly missing from your checking account! Don’t share your debit card PIN, don’t write it on the card and don’t write it down anywhere that someone could access. Let’s say you cancel before the free trial ends but the company charges you anyway, if the card on file is a credit card — getting your money back will be a lot easier. There’s a good chance that you pay for almost everything with your debit or credit card. There are some spectacular benefits from using a debit card as your form of payment, but some negative things to consider as well. Here’s a look at the basic protections and consequences of debit card fraud vs. credit card fraud. Any transaction or payment online. If you weren't, any transaction that exceeds your balance should be declined.
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