Quote:
Originally Posted by pilotbob
All credit cards have fraud protection. You have zero $ liability. Also, if your credit card # is used without your knowledge money isn't coming out our your checking account.
Granted, I think debit cards are protected from fraud too. However, that money comes out our your checking account right away. So, other checks or charges could bounce.
Granted, this won't happen to me. I have overdraft protection on my checking account tied to my credit card account. But, not everyone has that.
So, yes there is a difference. I also prefer the credit card route due to the cash back, extra warranty and other advantages. It is just paid off automatically from my checking account each month anyway. So, pretty much the same as a debit card, yet there is 1 month debit.
BOb
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My debit card is also a credit card, I can use it either way. If I specify credit, I sign the receipt, and if I specify debit I enter my PIN.
When I use it as a credit card, my online balance shows X dollars in my account with x minus the credit card purchase available, and if I drill down on that it shows the purchase pending. In other words it doesn't come out of my account right away, it usually takes a day or two.
So here's the question(s):
If I use it in credit mode, do I get all the same guarantees as any other credit card? If so, why would I ever want to use it in debit mode?