Is a debit card dangerous in my situation?Emptying Low Balance Gift CardsNo-line-of-credit debit card?Should...
What are "industrial chops"?
Explain the objections to these measures against human trafficking
Can we use the stored gravitational potential energy of a building to produce power?
Can a person refuse a presidential pardon?
Are there any modern advantages of a fire piston?
Why would space fleets be aligned?
What's a good word to describe a public place that looks like it wouldn't be rough?
Why isn't there a non-conducting core wire for high-frequency coil applications
Can making a creature unable to attack after it has been assigned as an attacker remove it from combat?
Caruana vs Carlsen game 10 (WCC) why not 18...Nxb6?
Traveling through the asteriod belt?
How to limit sight distance to 1 km
How much mayhem could I cause as a sentient fish?
Eww, those bytes are gross
Normalization for two bulk RNA-Seq samples to enable reliable fold-change estimation between genes
One Half of Ten; A Riddle
Difference between `vector<int> v;` and `vector<int> v = vector<int>();`
Who is this Ant Woman character in this image alongside the Wasp?
Intern applicant asking for compensation equivalent to that of permanent employee
Is that a center tap tranformer just labelled differently?
How to prevent cleaner from hanging my lock screen in Ubuntu 16.04
In Linux what happens if 1000 files in a directory are moved to another location while another 300 files were added to the source directory?
How can I deliver in-universe written lore to players without it being dry exposition?
How to say "Brexit" in Latin?
Is a debit card dangerous in my situation?
Emptying Low Balance Gift CardsNo-line-of-credit debit card?Should I get a credit card if I already have a debit card?Debit card for minor (< 8 y.o.)Maximum transaction amount on debit card (USA)Would I ever need credit card if my debit card is issued by MasterCard/Visa?Need a debit card option to replace a PayPal student debit cardCarrying a debit card for ATM withdrawals seems risky, what else can I do?Risks of sending debit/credit cards via conventional mailWhy does Mastercard allow Santander (Germany) to issue a Maestro card with a revolving credit?
I have a checking account that I keep very little money in. I use a debit card as a credit card at shops, and at the ATM. I have turned off overdraft protection on the checking account.
I've heard that using a debit card is dangerous. Given my situation, is it still dangerous? No overdraft and a low balance? I've also talked to my bank (USAA) and they've indidcated there is fraud protection on my card, if it should be stolen and used to make purchases.
debit-card
asked 3 hours ago
horse hairhorse hair
1,80521730
add a comment |
I have a checking account that I keep very little money in. I use a debit card as a credit card at shops, and at the ATM. I have turned off overdraft protection on the checking account.
I've heard that using a debit card is dangerous. Given my situation, is it still dangerous? No overdraft and a low balance? I've also talked to my bank (USAA) and they've indidcated there is fraud protection on my card, if it should be stolen and used to make purchases.
debit-card
asked 3 hours ago
horse hairhorse hair
1,80521730
add a comment |
I have a checking account that I keep very little money in. I use a debit card as a credit card at shops, and at the ATM. I have turned off overdraft protection on the checking account.
I've heard that using a debit card is dangerous. Given my situation, is it still dangerous? No overdraft and a low balance? I've also talked to my bank (USAA) and they've indidcated there is fraud protection on my card, if it should be stolen and used to make purchases.
debit-card
asked 3 hours ago
horse hairhorse hair
1,80521730
I have a checking account that I keep very little money in. I use a debit card as a credit card at shops, and at the ATM. I have turned off overdraft protection on the checking account.
I've heard that using a debit card is dangerous. Given my situation, is it still dangerous? No overdraft and a low balance? I've also talked to my bank (USAA) and they've indidcated there is fraud protection on my card, if it should be stolen and used to make purchases.
debit-card
debit-card
asked 3 hours ago
horse hairhorse hair
1,80521730
asked 3 hours ago
horse hairhorse hair
1,80521730
asked 3 hours ago
horse hairhorse hair
1,80521730
asked 3 hours ago
horse hairhorse hair
1,80521730
asked 3 hours ago
horse hairhorse hair
1,80521730
1,80521730
add a comment |
add a comment |
2 Answers
2
active
oldest
votes
The "danger" of using a debit card is that what backs it is your real money. If there is a fraudulent transaction, the money that is used to settle the transaction is yours. Yes there is a dispute and fraud protection policy offered by your bank, and should you qualify for it you'll get your money back.
If you use a credit card and there's a fraudulent transaction, the money that settles that transaction belongs to the credit card issuer. Yes you're obligated to pay it (or dispute it as fraud,) but it's a debt you owe, not your money that's been used.
So is it dangerous to use the debit card in the situation you've outlined? You've mitigated the risk by keeping your exposure low, but it would still be lower by not using the debit card in the first place.
answered 3 hours ago
ToddTodd
1,403611
add a comment |
Todd has a great answer. Just building on that there is also the danger when you want to hire a car, stay in hotel etc. that you need to put down your real money. Instead what typically happens is the hire company does a transaction whereby it ensures you will have the funds to pay the damages if anything goes wrong, without you necessarily having enough cash to do so. This happened to me when I was travelling as I also don't have a credit card. Some hire car companies are very reluctant to lend you a car if you do not have a credit card.
answered 2 hours ago
user73552user73552
1212
add a comment |
Your Answer
StackExchange.ready(function() {
var channelOptions = {
tags: "".split(" "),
id: "93"
};
initTagRenderer("".split(" "), "".split(" "), channelOptions);
StackExchange.using("externalEditor", function() {
// Have to fire editor after snippets, if snippets enabled
if (StackExchange.settings.snippets.snippetsEnabled) {
StackExchange.using("snippets", function() {
createEditor();
});
}
else {
createEditor();
}
});
function createEditor() {
StackExchange.prepareEditor({
heartbeatType: 'answer',
autoActivateHeartbeat: false,
convertImagesToLinks: true,
noModals: true,
showLowRepImageUploadWarning: true,
reputationToPostImages: 10,
bindNavPrevention: true,
postfix: "",
imageUploader: {
brandingHtml: "Powered by u003ca class="icon-imgur-white" href="https://imgur.com/"u003eu003c/au003e",
contentPolicyHtml: "User contributions licensed under u003ca href="https://creativecommons.org/licenses/by-sa/3.0/"u003ecc by-sa 3.0 with attribution requiredu003c/au003e u003ca href="https://stackoverflow.com/legal/content-policy"u003e(content policy)u003c/au003e",
allowUrls: true
},
noCode: true, onDemand: true,
discardSelector: ".discard-answer"
,immediatelyShowMarkdownHelp:true
});
}
});
Sign up or log in
StackExchange.ready(function () {
StackExchange.helpers.onClickDraftSave('#login-link');
});
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
StackExchange.ready(
function () {
StackExchange.openid.initPostLogin('.new-post-login', 'https%3a%2f%2fmoney.stackexchange.com%2fquestions%2f105892%2fis-a-debit-card-dangerous-in-my-situation%23new-answer', 'question_page');
}
);
Post as a guest
Required, but never shown
2 Answers
2
active
oldest
votes
2 Answers
2
active
oldest
votes
active
oldest
votes
active
oldest
votes
The "danger" of using a debit card is that what backs it is your real money. If there is a fraudulent transaction, the money that is used to settle the transaction is yours. Yes there is a dispute and fraud protection policy offered by your bank, and should you qualify for it you'll get your money back.
If you use a credit card and there's a fraudulent transaction, the money that settles that transaction belongs to the credit card issuer. Yes you're obligated to pay it (or dispute it as fraud,) but it's a debt you owe, not your money that's been used.
So is it dangerous to use the debit card in the situation you've outlined? You've mitigated the risk by keeping your exposure low, but it would still be lower by not using the debit card in the first place.
answered 3 hours ago
ToddTodd
1,403611
add a comment |
The "danger" of using a debit card is that what backs it is your real money. If there is a fraudulent transaction, the money that is used to settle the transaction is yours. Yes there is a dispute and fraud protection policy offered by your bank, and should you qualify for it you'll get your money back.
If you use a credit card and there's a fraudulent transaction, the money that settles that transaction belongs to the credit card issuer. Yes you're obligated to pay it (or dispute it as fraud,) but it's a debt you owe, not your money that's been used.
So is it dangerous to use the debit card in the situation you've outlined? You've mitigated the risk by keeping your exposure low, but it would still be lower by not using the debit card in the first place.
answered 3 hours ago
ToddTodd
1,403611
add a comment |
The "danger" of using a debit card is that what backs it is your real money. If there is a fraudulent transaction, the money that is used to settle the transaction is yours. Yes there is a dispute and fraud protection policy offered by your bank, and should you qualify for it you'll get your money back.
If you use a credit card and there's a fraudulent transaction, the money that settles that transaction belongs to the credit card issuer. Yes you're obligated to pay it (or dispute it as fraud,) but it's a debt you owe, not your money that's been used.
So is it dangerous to use the debit card in the situation you've outlined? You've mitigated the risk by keeping your exposure low, but it would still be lower by not using the debit card in the first place.
answered 3 hours ago
ToddTodd
1,403611
The "danger" of using a debit card is that what backs it is your real money. If there is a fraudulent transaction, the money that is used to settle the transaction is yours. Yes there is a dispute and fraud protection policy offered by your bank, and should you qualify for it you'll get your money back.
If you use a credit card and there's a fraudulent transaction, the money that settles that transaction belongs to the credit card issuer. Yes you're obligated to pay it (or dispute it as fraud,) but it's a debt you owe, not your money that's been used.
So is it dangerous to use the debit card in the situation you've outlined? You've mitigated the risk by keeping your exposure low, but it would still be lower by not using the debit card in the first place.
answered 3 hours ago
ToddTodd
1,403611
answered 3 hours ago
ToddTodd
1,403611
answered 3 hours ago
ToddTodd
1,403611
answered 3 hours ago
ToddTodd
1,403611
1,403611
add a comment |
add a comment |
Todd has a great answer. Just building on that there is also the danger when you want to hire a car, stay in hotel etc. that you need to put down your real money. Instead what typically happens is the hire company does a transaction whereby it ensures you will have the funds to pay the damages if anything goes wrong, without you necessarily having enough cash to do so. This happened to me when I was travelling as I also don't have a credit card. Some hire car companies are very reluctant to lend you a car if you do not have a credit card.
answered 2 hours ago
user73552user73552
1212
add a comment |
Todd has a great answer. Just building on that there is also the danger when you want to hire a car, stay in hotel etc. that you need to put down your real money. Instead what typically happens is the hire company does a transaction whereby it ensures you will have the funds to pay the damages if anything goes wrong, without you necessarily having enough cash to do so. This happened to me when I was travelling as I also don't have a credit card. Some hire car companies are very reluctant to lend you a car if you do not have a credit card.
answered 2 hours ago
user73552user73552
1212
add a comment |
Todd has a great answer. Just building on that there is also the danger when you want to hire a car, stay in hotel etc. that you need to put down your real money. Instead what typically happens is the hire company does a transaction whereby it ensures you will have the funds to pay the damages if anything goes wrong, without you necessarily having enough cash to do so. This happened to me when I was travelling as I also don't have a credit card. Some hire car companies are very reluctant to lend you a car if you do not have a credit card.
answered 2 hours ago
user73552user73552
1212
Todd has a great answer. Just building on that there is also the danger when you want to hire a car, stay in hotel etc. that you need to put down your real money. Instead what typically happens is the hire company does a transaction whereby it ensures you will have the funds to pay the damages if anything goes wrong, without you necessarily having enough cash to do so. This happened to me when I was travelling as I also don't have a credit card. Some hire car companies are very reluctant to lend you a car if you do not have a credit card.
answered 2 hours ago
user73552user73552
1212
answered 2 hours ago
user73552user73552
1212
answered 2 hours ago
user73552user73552
1212
answered 2 hours ago
user73552user73552
1212
1212
add a comment |
add a comment |
Thanks for contributing an answer to Personal Finance & Money Stack Exchange!
- Please be sure to answer the question. Provide details and share your research!
But avoid …
- Asking for help, clarification, or responding to other answers.
- Making statements based on opinion; back them up with references or personal experience.
To learn more, see our tips on writing great answers.
Sign up or log in
StackExchange.ready(function () {
StackExchange.helpers.onClickDraftSave('#login-link');
});
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
StackExchange.ready(
function () {
StackExchange.openid.initPostLogin('.new-post-login', 'https%3a%2f%2fmoney.stackexchange.com%2fquestions%2f105892%2fis-a-debit-card-dangerous-in-my-situation%23new-answer', 'question_page');
}
);
Post as a guest
Required, but never shown
Sign up or log in
StackExchange.ready(function () {
StackExchange.helpers.onClickDraftSave('#login-link');
});
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
Sign up or log in
StackExchange.ready(function () {
StackExchange.helpers.onClickDraftSave('#login-link');
});
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
Sign up or log in
StackExchange.ready(function () {
StackExchange.helpers.onClickDraftSave('#login-link');
});
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
