What a nice explanation. Here's an FTC page that amplifies this: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm http://www.ftc.gov/bcp/edu/pubs/co

What a nice explanation. Here's an FTC page that amplifies this: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm This page relates to your maximum loss if you lose your card, but it also details that the two instruments are governed by different laws. If you lose your credit card, your max liability is $50. But if you lose your debit card, there's a sliding scale of liability (going all the way up to, "your entire balance") depending on how soon you notify your bank.