4 Places You Should Never Swipe Your Debit Card

With debit card fraud becoming more and more rampant, you can never be too careful . Although a debit card is useful in maintaining your spending (you can only spend as much as your account balance), it can also make you vulnerable. For this reason we share four places where you should never use your debit card:


#1) Online purchases. This is number one for a reason. More debit card fraud happens online more than any other place. Even more than hackers accessing your information, you just don't know who is handling your information during the entire transaction process. Your debit card number can be stolen during numerous points and, what’s worst, you may not know you’ve been hacked for weeks.

#2) At pay-at-the-pump gas stations and ATM machines not operated by a bank. These terminals are vulnerable to being outfitted with illegal “skimming” devices that can capture your information. With minimal supervision, anyone can install these skimmers or pinpoint cameras.

#3) On big-ticket items. Unlike your debit card, most credit card companies provide an extended warranty on merchandise. If in fact you find something wrong after the manufacturer’s normal warranty period has expired, you are covered.

#4) Restaurants. Once that debit card leaves your supervision it is hard to say what information might be stolen. It takes only one minute to copy down the pertinent card information. Also, customer payment information is often kept by the restaurant allowing access to your information later.

So what makes credit cards safer than debit cards? I can lose my credit card just as easy as my debit card, so if both can be stolen, what are the main advantages of using a credit card over a debit card:

Credit cards provide an extra layer of protection since your money isn't withdrawn directly from your bank account. If your debit card were stolen and your bank account drained, you are placed in a difficult position in paying bills or meeting other financial obligations. This, of course, shreds your credit score. Fortunately, you can dispute a fraudulent charge on your credit card before the actual money is withdrawn from your bank account.

Any losses from an unauthorized charge to your credit card will never exceed $50 if you report within the specified time limit. Several institutions issuing credit cards will often waive the charge when asked. If your debit card were to go missing and you called the bank within two business days, then you’d likely pay $50 for the fraudulent charges. However, if you were to wait beyond two day before informing your bank about the missing card, you could be responsible for up to $500. And lastly, if you fail to report the fraudulent transaction within 60 days, you could find yourself responsible for the entire amount.

If you insist on using your debit card, be sure to review your statements regularly and ask inquire about the fraud protection services your bank provides. Certain banks will offer additional protection services like a photo ID on your debit card in an effort to prevent misuse.

Tc & Be Safe :)

#Creditcard #Debitcard 

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