What a silly post. Debit cards are safe to use, as safe as a credit card. Good thing I don’t live in fear of my shadow.
They didnt protect her... that is the gist of the story
Not that I live in fear of my shadow. I am just a more intelligent financial consumer than you are.
ergo:
Liability of debit card versus credit card
When it comes to liability, debit cards and credit cards have different rules. Here’s a breakdown:
Debit Cards:
If you report your debit card lost or stolen within 2 business days of discovering the loss or theft, your maximum liability is $50.
If you report it between 2 business days and 60 days after discovering the loss or theft, your maximum liability is the lesser of $500 or the total amount of unauthorized transactions.
If you fail to report the loss or theft after 60 days, you may be liable for the full amount of unauthorized transactions.
Credit Cards:
Under the Fair Credit Billing Act, your maximum liability for unauthorized charges on a credit card is $50.
Some credit card companies offer $0 liability policies if your card is lost or stolen, meaning you won’t be responsible for any unauthorized charges.
In general, credit cards offer more consumer protection and liability relief than debit cards. This is because credit card companies are more likely to absorb the loss and work with you to resolve any issues. Debit cards, on the other hand, are linked directly to your checking account, so the liability falls on you.
It’s worth noting that some debit card networks, such as Visa and Mastercard, offer zero-liability policies for certain types of transactions. However, these policies may not apply to all debit cards or transactions.
In summary, if you’re concerned about liability, credit cards may be a better option. However, it’s essential to always monitor your accounts regularly and report any suspicious activity to minimize your risk.