i like the thought about getting a debit card but i heard about lots of bad things that happened because of debit cards. and i need to know if i should get one or not.
2007-02-13 16:25:27 · 5 answers · asked by badbad 1 in Consumer Electronics ➔ Music & Music Players
It depends on you and how careful you are.I have had a debit card for years and years and I love it .The only problem I have had is when I forget to put the amount I took out into my checkbook or lost the receipt.Just by very careful and keep good records.Balance your checkbook every month and NEVER NEVER give anyone your pin number.LOL
2007-02-13 16:33:31 · answer #1 · answered by skippersbrat 2 · 1⤊ 0⤋
Debit cards take money directly from your bank account. So if you have a large sum in your account, you are likely to lose a lot in case of a fraud, either on internet or in swiping the card at a shopping outlet. There is no safety of a bank in such a case.
On the other hand, a credit card is safer as the bank first pays the money and then bills you for the amount, 20 to 51 days later, depending on the day of the month you have made the purchase. If you pay up the dues before the due date, there is no interest payable. You can ask your bank to debit your account with the billed amount automatically. This is safe as the bank's dealings with you will be straight and honest. Also, the load of remembering to pay the dues by the due date is taken out.
If you want ATM facility, you can either take it combined with the credit card or have a separate ATM card directly debited to your account so that again you have no fear of missed payment and heavy interest burden.
2007-02-13 18:42:40 · answer #2 · answered by Mahendra S 1 · 0⤊ 0⤋
I'm not sure what you've heard.
I use mine now and then.
The worst part of them is,,, if you buy something on it, you don't get the same guarantee as you would if you used a credit card, such as sometimes you will get a double warranty on the product, or if you use it on the internet and you don't get what you thought it was, your purchase is guaranteed with a credit card, you can stop payment if there is a valid reason.
You can't do that with a debit card.
You're just not protected as much with debit cards.
2007-02-13 16:36:59 · answer #3 · answered by Scotty 6 · 0⤊ 0⤋
There are bad things that can happen with any card.
Debit cards require a pin number before the transaction is authorized so don't share the pin.
Credid cards don't require a pin and only require a signature. Go with debit. It's more secure and posts to the bank quicker than credit.
2007-02-13 16:33:46 · answer #4 · answered by David W 4 · 1⤊ 0⤋
A debit card is very convenient, but you must always remember, it is the same as writing a check, and the funds can be taken from your account IMMEDIATELY. You MUST always remember to write the transactions in your checkbook. I find it helpful to wrap my receipts around the debit card until they are written in the checkbook. This is not a credit card......if funds are not available in your checkbook, your transaction will be denied.
2007-02-13 16:34:57 · answer #5 · answered by Amy 911 5 · 0⤊ 0⤋