4 ms·

No FUD here. You've been lucky, many people haven't. There's good odds you won't be a victim on account of Debit Card use, but you're far less exposed when usin

No FUD here. You've been lucky, many people haven't. There's good odds you won't be a victim on account of Debit Card use, but you're far less exposed when using Credit and there's absolutely no downside to using credit over debit if you PIF. See my reply to abrown above, who, like you, mentioned he's been "using debit for 15 years without problems." Good for you, but you're wrong to call FUD. The scam I explained to abrown is just one of many downsides to debit over credit. It also leaves out the half dozen wonderful benefits good CCs have. Things like automatic doubling of a manufacturers warranty, price matching if a price drops within 30 days of purchase, very generous cash back, defect, damage, and theft protection, federally guaranteed fraud protection & rights. Etc. I could go on. No FUD here, debit cards are risky.

InclinedPlane 17y ago
Many people haven't been lucky with credit cards, does that mean credit cards are unsafe as well? A lot of the "risks" of using debit cards are hypothetical or extremely rare scams. The more common frauds can impact credit or debit card holders alike, and typically have robust protections and straightforward remedies. These "don't use debit cards, they're risky!" warnings are extremely reminiscent of the BS TSA regulations. They don't represent a sane, robust risk assessment, they represent merely an overreaction to certain very unusual risks.
- encoderer 17y ago
  I'm not sure what "extremely rare" means, and I don't have any facts one way or the other. What I do know for certain is that credit cards have a number of federal regulations protecting consumers from fraud, and debit cards do not. I also know that with debit card fraud, it's YOUR MONEY that's stolen from you. With CC fraud, it's not. Most importantly, I know that a CC is superior to a debit card in every way. That there is definitely more risk with a debit card, and absolutely no reason to accept that risk, unless you cannot qualify for a credit card. And because of that, I think that doing what you did here, advocating that any skepticism of debit cards is "FUD" is irresponsible. That's why I've replied. Internet, identity and "Credit Card" fraud (including debit cards in that) is the fastest growing category of crime in the country according to the FBI.
  - BigZaphod 17y ago
    "I know that a CC is superior to a debit card in every way." Then why do they still exist? Yes - this is a snarky question, but a valid one, IMO. If they are so obviously bad and horrible, why do they even still exist? Why is there even a debate?
    - encoderer 17y ago
      You really have to ask that? They make an enormous amount of money for the bank and for the processor. That doesn't mean they're good for consumers.

InclinedPlane 17y ago

Many people haven't been lucky with credit cards, does that mean credit cards are unsafe as well? A lot of the "risks" of using debit cards are hypothetical or extremely rare scams. The more common frauds can impact credit or debit card holders alike, and typically have robust protections and straightforward remedies. These "don't use debit cards, they're risky!" warnings are extremely reminiscent of the BS TSA regulations. They don't represent a sane, robust risk assessment, they represent merely an overreaction to certain very unusual risks.

encoderer 17y ago
I'm not sure what "extremely rare" means, and I don't have any facts one way or the other. What I do know for certain is that credit cards have a number of federal regulations protecting consumers from fraud, and debit cards do not. I also know that with debit card fraud, it's YOUR MONEY that's stolen from you. With CC fraud, it's not. Most importantly, I know that a CC is superior to a debit card in every way. That there is definitely more risk with a debit card, and absolutely no reason to accept that risk, unless you cannot qualify for a credit card. And because of that, I think that doing what you did here, advocating that any skepticism of debit cards is "FUD" is irresponsible. That's why I've replied. Internet, identity and "Credit Card" fraud (including debit cards in that) is the fastest growing category of crime in the country according to the FBI.
- BigZaphod 17y ago
  "I know that a CC is superior to a debit card in every way." Then why do they still exist? Yes - this is a snarky question, but a valid one, IMO. If they are so obviously bad and horrible, why do they even still exist? Why is there even a debate?
  - encoderer 17y ago
    You really have to ask that? They make an enormous amount of money for the bank and for the processor. That doesn't mean they're good for consumers.