Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Back to Financial News

Why Credit Cards Are Safer Than Debit Cards

Monday, March 29, 2010 - 7:41 AM
This NYT article looks at the risks of using credit cards, debit cards and payment services like PayPal when you make online purchases. Here's what it says about debit cards as compared to credit cards:
Using debit cards online is a bit riskier. These transactions, which draw directly from your bank account, are subject to a different federal law, the Electronic Fund Transfer Act. This law provides considerable protection from liability, but the level of protection diminishes as time passes.
1
Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,702
Reply