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Additional D... |
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Additional Details
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Bob | Is a credit card safer than a debit card? |
I know what the difference is in terms in getting credit, but not that is what I'm interested.
I want to know if its safer, for example I've heard that if I make an order using a credit card and something wrong happens, I can sue directly the bank, so this is why people are aware of that. Not the same thing is applied to debit cards.
Correct me if I'm wrong and what other things you know about it ? |
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Knownow't
|
If you buy things with a credit card then you are insured should the article be lost or stolen in transit or is defective and the supplier refuses to exchange it, so in this regard it is better. |
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Mariachi
|
With a credit card they can only steal up to your limit. A debit card is everything in your Bank account. |
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puzzled
 |
Your right, a credit card offers more security than a debit card, for faulty goods and for fraud.
It's not about sueing them though, its in the contract that they will refund you if anything goes wrong. |
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The wise investor
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yeah I think credit cards are safer in that respect. Last week 3 AMERICAN small aircraft firms went bankrupt, only those that paid for future tickets by credit card have a realistic chance of gettin their money back |
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nettie
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And this present time the credit card however, I understand that some banks are honouring fraud when a debit card is used.
My experience of using a credit card to purchase goods:
I was contacted by Visa asking me to confirm the unusual purchases made against my credit card. I was unable to confirm that I had made those purchases. As a consquence Visa tracked down fraud on my card which amounted to several hundred pounds.
I had ordered wreaths for a funeral over the phone and the person at the other end used my card details to her own ends.
I never found out if she was proscecuted but the police were on her trail and I got my money debited back onto my visa card.
So check with your own bank to see if they hounour both in where fraud is concerned. |
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shidhet
 |
Credit cards are probably safer because you can reverse the charge if the deal goes bad. I don't think you can do that with a debit card. This way... it's up to the person who tried to rip you off to sue you for the money after you reverse the charge if they think they can. If you pay by cash, check or debit... it's up to you to try and get your money back from a crook if a deal goes bad.
Reversing a charge isn't free, but it's great to know nobody can keep your money for a larger purchase if you're not satisfied. |
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Sarah
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not for your wallet |
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PandoraTheWise
 |
Bank Cards in the long run aren't as safe as Debit Cards with a visa/mastercard logo. If someone gets your pin with your bank card(ATM card), the Bank honors the charge even if you didn't make the charge. Because the use of a PIN assumes you did authorize it, or someone to use it. Credit Card's are the same as Debit cards with a visa/mastercard logo, except with some retailers who will not take Debit Cards (like car rental places). Debit & Credit cards are safer than Bank/ATM cards.
But, with Credit Cards you have interest to pay on your purchases if you don't pay the balance within the grace period. If you do not pay off the balance in the grace period, you pay MORE for your purchase than you would if you used your Debit Card. Which means you have debt, and that can lead to financial issues in the long run.
Debit Cards however ARE as protected as Credit Cards- IF THEY HAVE THE VISA/MASTERCARD LOGO. But only if you do not use a PIN while paying for your purchase. VISA/MASTERCARD insures a Debit Card, and usually if someone uses your card without your authorization the bank will refund your money- as long as a PIN wasn't used, and you are not comitting a fraud by saying someone unauthorized used your card when they didn't. You have to sign for your purchases, just as you would with a credit card- they check signatures when you claim your card was used improperly. In the instances where your card was used without signature- the bank will generally honor your claim. MANY banks that offer Debit Cards offer the same protection as a credit card- your item is insured/carries the extra warranty, you may have travelers insurance, and other perks like Reward Points/Cash Back. But it depends upon your bank what perks are offered, and how their fraud system works.
Debit Cards also usually have a withdrawl limit on them, the same as Credit Cards. Bank/ATM Cards withdrawls are limited by bank, and/or ATM.
So, generally Credit Cards and Debit Cards are the same as far as security. But Bank/ATM cards are less safe if someone gets your PIN. But Credit Cards carry interest rates, which can be harmful to your credit and your finances. |
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Motet Galaxy
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Credit Cards - Buy now, pay later. It is tempting to overspend, then get a big bill at the end of the month.
Debit Cards - Buy now, pay now. So there is no bill to receive at the end of the month because the goods are already paid for.
As long as you keep your bank details secret, and don't use a joint acount, there is no danger of getting into debt with a debit card. |
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danniel s
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similarly ureach tha answer,
credit card never safer than debit card,
but no credit card issuing financial authority will reveal the truth, because then they ruine that business.
briefly and simply :
you can spend your money with caution if you swipe debit card, no harm if u don't have money with it, u can get know u are now empty need to fill the lack by financially.
when are with credit card only :
u are nothing to worry about ur saved money u spend on ur wish but someone lending money with high expectations from u, it means u start use credit cards finacially empty again u settle the debt and return empty. which makes u infinite debtor to somebody. you may become more wealth also u have control of it then go for high reputed credit card, it's solely safe for u wealth.
not for monthly wage buddies. |
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dels replies
 |
Yes I think you are right. Using a credit card means you are using the banks money so they are more interested in protecting that against someting being wrong. A debit card on the other hand is your money you are using, Just like an automatic cheque, so the same protection is not there. OK no interest on a debit card , but nor is there on a credit card if you pay it off each month. Personally I prefer not to borrow or use a credit card, but also I very rarely buy or order thintgs on line or by mail. |
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Empress
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no Debit cards are safer, there are less charges involved and you are less likely to go into debt.
you can't 'sue' the bank no but if someone stole your details whether it was a debit or credit card the bank will eschew the charges |
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