2 ms·
Citation needed. I use credit cards exclusively so I cannot say for sure, but I am extremely skeptical that banks don’t offer any fraud protection on debit card
by gpanders 5y ago
Citation needed. I use credit cards exclusively so I cannot say for sure, but I am extremely skeptical that banks don’t offer any fraud protection on debit cards in the US.
AFAIK the main reason people prefer CC’s over debit cards for fraud prevention is simply that with a debit card your money comes out immediately if it is used by someone else, whereas with a CC there is a 30-day buffer.
- gumby 5y agoLiterally the first links when I search for ‘fraud protection credit card debit card” are below. The TL;DR is: - you have a short window to report DC fraud before you bear the full risk; CC risk is capped - dispute a CC charge: you don’t owe anything / accrue interest until resolved; DC case you don’t get any money back until bank decides it’s not your fault. Tough luck if you needed that money to pay your rent. https://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards https://www.consumer.ftc.gov/articles/0213-lost-or-stolen-cr... https://www.experian.com/blogs/ask-experian/are-credit-cards-safer-than-debit-cards/ https://www.experian.com/blogs/ask-experian/are-credit-cards... https://www.nerdwallet.com/article/credit-cards/credit-card-vs-debit-card-safer-online-purchases https://www.nerdwallet.com/article/credit-cards/credit-card-... https://creditcards.usnews.com/articles/why-credit-cards-are-safer-than-debit-cards https://creditcards.usnews.com/articles/why-credit-cards-are... https://komonews.com/sponsored/wafd/financial-focus-tips/credit-cards-have-better-fraud-protection-than-debit-cards https://komonews.com/sponsored/wafd/financial-focus-tips/cre...