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Protection Differences Between Debit Cards And Credit Cards

Monday, September 27, 2010 - 7:46 PM
This Wall Street Journal article has a good review of the differences between debit cards and credit cards in terms of fraud protections. As many of your know, there are more regulations protecting credit card customers.
3
Ken TuminKen Tumin5,441 posts since
Nov 29, 2009
Rep Points: 123,664
1. Monday, September 27, 2010 - 8:52 PM
It is obvious that one of the protection measures is to use debit card as a non-pin credit card.  The fancy software mentioned does nothing, IMHO.  Finally, do due diligence to check one's account frequently.  For example, Danvers Bank has an e-alert feature (Memo-Post Activity) that monitors hourly activities and report back via e-mail. 
4
51hh51hh1,460 posts since
Jan 16, 2010
Rep Points: 6,348
2. Friday, May 17, 2013 - 5:49 AM
Of course credit cards would have more protection than debit cards because there are certain fees involved; unlike with debit cards where people and establishments are not required to pay fees. Aside from that, credit cards need longer processing times compared to debit cards which when used, are debited immediately from your account which makes recovering funds harder. Credit card transactions, when disputed immediately can be easily cancelled. Regardless of what card you use though, you need to make an effort to check your credit score as checking it will be of big help in identifying a suspicious activity and preventing identity theft.
1
joymalijoymali16 posts since
Apr 6, 2013
Rep Points: 23
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