Quote:
Originally Posted by taustin
You're not paying attention. I'm not talking about using a credit card. I'm talking about using a debit card as a credit card. There is no actual credit card involved.
Not all merchants do debit cards. But most debit cards have a Visa or MasterCard logo on them, and merchants that do not accept debit cards can accept those and process them as if they were credit cards. They are not credit cards, and none of the legal protections that apply to credit cards apply to them )(though banks generally extends the same protections as a matter of policy). More important, for you, as the consumer, they are still a debit card. So no, you can't not pay the whole balance, because the money is still taken out of your account immediately because it is still a debit card. But to the merchant, it looks and acts like a credit card.
This isn't that complicated.
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Gee, duh. Do you even read what you write? I wasn't talking about the merchant that was dealing with a "credit card". I am talking about YOU getting screwed by someone stealing your debit card and using it as a credit card. Sure, the bank will curtesy refund money for that fraudulent charge. If they do that, you are still screwed, because while you wait for the money to go back your morgage can bounce.
So to you if someone steals your credit card instead, all they can do is max out your line of credit. Until that fraudulent charge gets cleared you can still pay your morgage with real money out of your checking account. See the difference? Using your debit card as a credit card is not the best of both worlds.