4 ms·

Debit cards offer buyer protection. It's not as comprehensive as a credit card but you can report fraud and get your money back. Granted the cash will be tied

Debit cards offer buyer protection. It's not as comprehensive as a credit card but you can report fraud and get your money back. Granted the cash will be tied up for a few days until the refund posts but it's not lost. Debit cards also have transaction limits and fraud detection designed to limit your exposure. It's not foolproof but it's a lot better than carrying large amounts of cash around in your pocket. I went many years without a credit card out of moral principal but having to travel and rent cars finally made me break down and get one. It was so much less hassle to rent a car with one vs without one that I did it. I hate credit cards.

2trill2spill 9y ago
> Debit cards offer buyer protection. It's not as comprehensive as a credit card but you can report fraud and get your money back. Granted the cash will be tied up for a few days until the refund posts but it's not lost. Protections on your debit card are bank policy, protections on credit cards are federal law. So basically with a debit card your just hoping the bank is nice and will give your money back. With a credit card they have to give your money back. > I went many years without a credit card out of moral principal but having to travel and rent cars finally made me break down and get one. It was so much less hassle to rent a car with one vs without one that I did it. And what moral principle is that, that says credit cards are bad? > I hate credit cards. Good luck building credit without a credit card.
- pasbesoin 9y ago
  Exactly. Credit card protections are law and regulation. Debit card offers then started to offer protections, in order to compete with this. If you like these features, remember: They are the result of law and regulation. They were not created by the "free market". Although the marketplace helped promulgate them, once they were in place on credit cards -- as a "minimum standard", as it were.
  - 2trill2spill 9y ago
    > Debit card offers then started to offer protections, in order to compete with this. Debit cards don't have the backing of law so they are not as safe as credit cards. Doesn't matter what "protections" your debit card has they can be arbitrarily revoked by your bank.
    - pasbesoin 9y ago
      Yes.
kelnos 9y ago
> Granted the cash will be tied up for a few days until the refund posts but it's not lost. You say this as sort of a throwaway comment, but this is actually a huge deal, and is why I only use my debit card for withdrawing cash at ATMs that I trust or at least pray aren't sketchy, and use credit cards or cash for everything else. Having some arbitrary amount of money missing from my checking account for any amount of time (which can be several weeks if your bank is annoying) due to debit card fraud or even just an error during a legitimate charge is absolutely unacceptable to me.

2trill2spill 9y ago

> Debit cards offer buyer protection. It's not as comprehensive as a credit card but you can report fraud and get your money back. Granted the cash will be tied up for a few days until the refund posts but it's not lost. Protections on your debit card are bank policy, protections on credit cards are federal law. So basically with a debit card your just hoping the bank is nice and will give your money back. With a credit card they have to give your money back. > I went many years without a credit card out of moral principal but having to travel and rent cars finally made me break down and get one. It was so much less hassle to rent a car with one vs without one that I did it. And what moral principle is that, that says credit cards are bad? > I hate credit cards. Good luck building credit without a credit card.

pasbesoin 9y ago
Exactly. Credit card protections are law and regulation. Debit card offers then started to offer protections, in order to compete with this. If you like these features, remember: They are the result of law and regulation. They were not created by the "free market". Although the marketplace helped promulgate them, once they were in place on credit cards -- as a "minimum standard", as it were.
- 2trill2spill 9y ago
  > Debit card offers then started to offer protections, in order to compete with this. Debit cards don't have the backing of law so they are not as safe as credit cards. Doesn't matter what "protections" your debit card has they can be arbitrarily revoked by your bank.
  - pasbesoin 9y ago
    Yes.

kelnos 9y ago

> Granted the cash will be tied up for a few days until the refund posts but it's not lost. You say this as sort of a throwaway comment, but this is actually a huge deal, and is why I only use my debit card for withdrawing cash at ATMs that I trust or at least pray aren't sketchy, and use credit cards or cash for everything else. Having some arbitrary amount of money missing from my checking account for any amount of time (which can be several weeks if your bank is annoying) due to debit card fraud or even just an error during a legitimate charge is absolutely unacceptable to me.