Although if you look at it from a security point of view then using a credit card to pay is in most cases the smart move
using your debit card to buy anything might seem like a responsible thing to do
Sometimes you can over-spend just because you have gotten into a habit of taking out your credit card whenever buying something.
But if we look at it from the security point of view then paying with your credit card is the smart move.
Global debit and credit card fraud are expected to climb $33B by this year’s end. Even though a credit card can get stolen just as easy as a debit card, the consequences in both the conditions could be quite different.
Credit cards are much well-protected that debit cards. This is because anyone who has your debit card information can get access to all the money in your bank account since debit cards are directly linked to bank accounts.
When you use a credit card for transaction, you are not billed right at the moment so the damages done to it can be handled differently, but if it’s a stolen debit card that is being used then, depending on the circumstances, you might be responsible for considerable losses, that is if you don’t report it beforehand
Here are the 10 Places where your debit card is better left in your pocket.
1. Online Shopping
Don’t give your debit card information to any website that demands it. You can lose a lot of money if your information is misused and there’s always a possibility of it being misused because almost everything you do online leaves traces.
2. Big-ticket items
One of the upsides of using a credit card for making big purchases online is that it offers dispute rights, just in case if something goes wrong during or after the purchase.
3. Giving a deposit
Always use a credit card if you have to put down a cash deposit for something or you if you are renting tools. The money is as good as gone if you are using a debit card and the merchant decides to keep your money when they clearly should not.
Most of the restaurants bring a payment machine to your table to transact money but there also some who will take you card from you and do the transactions themselves around the back
It’s always a nice idea to keep your debit card within your possession, you never know what someone might do with your card behind you back.
5. New stores
Try not using your debit card in newly opened stores. You never know what kind of quality of good they might have and if you have to return something then a credit card will give you the upper hand as you will have more right as a customer as compared to a debit card.
6. Items Being Delivered Later
(The same goes for when you are buying something online like furniture or a large television which you have to pay for right there but which will be delivered to your doorstep later, this is where a lot of online frauds happen. If you have to make the purchase then do it with your credit card because then you have a way back if something goes wrong.)
7. Recurring Payments
It’s just easier to get billed automatically. You don’t have to deal with any bills or spend time paying your bills when you have better, more exciting things to do but what about when you wish to cancel your subscription but you still keep getting billed. This is another reason why you always use a credit card and never connect your bank accounts to recurring payments.
8. Future Travel
Using credit cards when on a trip gives you a long time to pay down the balance because if you are using your debit card then you can run out of the entire balance instantly.
It’s always a good idea to use your credit card when staying in a hotel since most hotels keep your card in their possession just in case some unanticipated charges spring up that were not supposed to be there.
10. ATMs and Pay-at-the-Pump Gas Stations
Non-bank-affiliated ATMs and Pay-at-the pump gas stations are two places where criminals thrive because these places are easiest to get their hands on because of their ill monitored security so it’s best to avoid using a debit card, or any other card in these places.