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I was answering in the context of the difference between chargebacks on credit cards vs debit cards. You aren’t out of your money while waiting on a chargeback
by scarface74 4y ago
I was answering in the context of the difference between chargebacks on credit cards vs debit cards. You aren’t out of your money while waiting on a chargeback to be processed when using a credit cards.
- lxgr 4y agoYou're out of $400 of liquidity (until the issuer provisionally credits your account, which they are required for credit and debit alike) either way. The only difference is lost interest payments for these ~5 business days (which the issuer might even have to reimburse as well; I'm not too sure about that though), as well as not being able to pay for cash-only expenses using the money in your bank account. Also, nobody is saying that people can only have one single bank account, and a debit card linked to it with no spending limit attached to it.
- scarface74 4y agoFew people with decent credit have a card that has a credit limit that comes anywhere near their monthly spending requirements.