# Credit / Debit cards............



## paratrooper (Feb 1, 2012)

Okay, I've had credit cards since age 18. Never a problem with a missed payment, late payment, stolen card, or hacked account. I've had many over the years, but only keep 2-3 active at any one time. Always managed them well and paid on time and I have a credit score in the top 5% of the nation.

We've had a debit card with Wells Fargo for the last 7 yrs. or so. We've never used an ATM and only use the card to make purchases at grocery stores, gas stations, retail stores, etc. Again......no problems or issues of any kind with it. We have a PIN that is required to use it.

I've heard from others on other forums, that using a debit card to make *ANY* purchase at *ANY* store is just asking for trouble. Supposedly, a debit card was intended to make cash withdrawals from the bank that issued it, when it was closed.

My wife makes 99% of all the family purchases with the debit card. I check all my bank balances on-line daily. Sometimes, more than once. Again, we never had any problem of any kind. Using the debit card has cut writing out checks to almost nothing.

My question is this. What risk are we assuming by using a debit card to make everyday purchases? Places like Wal-Mart, gas stations, Safeway, etc. Many are saying to use cash, and cash only, or regular credit cards. I don't like carrying more than $100.00 at any one time in my wallet. And, I only use credit cards to make specific purchases, not everyday stuff.

Anyone have a business mind and is willing to school me some on the do's and don'ts of debit cards?

TIA!


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## hud35500 (May 8, 2010)

I use my BofA debit card pretty much for everything. I use it as a credit card though. If you use it as a debit card, your PIN can be picked up by a scanner. My wife and I do this religiously and we've never had any trouble with fraudulent charges. BofA does monitor our usage quite well. When I tried to use my card in another state last month, they shut it down, then called me to find out if it was me using it. Kind of a pain, but I'll live with the inconvenience. I call the bank ahead of time if I am travelling now. With all these private monitoring companies popping up, the bank had to up their game to keep customers.


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## Cait43 (Apr 4, 2013)

*Google is your friend......*
The places you should never use a debit card | www.clarkhoward.com

Debt card fraud can clean out your checking or savings account...... Best to use charge card and pay off monthly...... Personally I have an "internet credit card"...... I only use it when ordering from the internet and pay it off monthly........


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## Steve M1911A1 (Feb 6, 2008)

As *Cait* pointed out, you have no legal or financial recourse against fraud upon your _debit_ card. You are fully responsible for all purchases made with it.

According to law, you are protected against _credit_-card fraud, as long as you report the missing card or the known misuse within a reasonable time after having discovered the loss. (However, there is a minor liability: $50.00 is the maximum, I believe.)

In cases of dispute with a seller, your debit card offers you absolutely no protection. Since you have already paid for what you bought, your only recourse is to take the problem up with the retailer yourself, and hope that he is honest. The same is true if you need to return the goods for a refund.

However, your credit-card provider will intercede with a seller in a dispute, and will aid in effecting a resolution. If, for instance, you never receive the merchandise you purchased with your credit card, and the seller refuses to take any responsibility for the missing goods, if you then make a timely complaint to most credit-card providers, you will not be charged for the missing stuff until a delivery is provably effected and the goods are in your hands. And if you make a quick-turnaround return of defective merchandise, many credit-card providers will "wipe" the transaction from your account as soon as you notify them.

There's lots more. This is only a beginning.

Jean and I will be away visiting our east-coast grandchild (and her family, of course) from November 29th through December 14th. See you later!


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## pic (Nov 14, 2009)

I get a cash back bonus using a credit card. 
Not familiar with a debit card. 
Happy Thanksgiving
Happy Hanukkah


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## TurboHonda (Aug 4, 2012)

My American Express card says Member Since 76. I also have a Visa and Master Card. I match the receipts against my bills and pay the totals each month, and never any interest. On numerous occasions I have disputed charges and had them corrected in my favor. Motels never place a temporary charge against the credit cards. My bank account is under my micro-managed control at all times. 

So far, for me at least, I haven't found a reason to have a debit card.


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## SouthernBoy (Jun 27, 2007)

I have never used an ATM or a debit card. And I was in the software development field as a software engineer for 29 years. Go figure. There are numerous ways your credit card or debit card can be hit. Better to either pay cash or use checks.


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## pic (Nov 14, 2009)

TurboHonda said:


> My American Express card says Member Since 76. I also have a Visa and Master Card. I match the receipts against my bills and pay the totals each month, and never any interest. On numerous occasions I have disputed charges and had them corrected in my favor. Motels never place a temporary charge against the credit cards. My bank account is under my micro-managed control at all times.
> 
> So far, for me at least, I haven't found a reason to have a debit card.


"76 " the American Bicentennial.
Indeed, micro management at all times , no matter what card or check you write. Good practice. The banks make mistakes also.


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## paratrooper (Feb 1, 2012)

Well, I did call Wells Fargo and asked about using a debit card for everyday purchases. In a nutshell, I was told that WF monitors accounts for unusual activity. If a fraud did occur, WF would investigate, and assist in any way possible to resolve the issue. I was told that if it was proven to be a fraud issue, WF would reimburse the account for the amount lost. 

The only way a savings account could be at risk, is if it was linked to a checking account. They checked mine while I was on the phone, and I was told that no other accounts are linked to our checking account. That was a big concern of mine. 

Anyways, I'm already doing what I need to do to insure that I'm on top if something should occur. Wife isn't all that crazy about the idea of going back to writing checks for everything she buys. And, she doesn't like to keep large sums of cash in her purse. 

WF did recommend that if on vacation and driving to and from, and if buying gas, to go inside to pay with a card, rather than pay at the pump. Obviously, fraud can happen in your home town, but if it does happen, it's much easier to resolve any issues, vs. a place that it occurred at in another state.


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## pic (Nov 14, 2009)

I get 400$+$ cash back annually for using my credit card .


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## tony pasley (May 6, 2006)

The info stored on the magnetic strips on your cards are the real prize to thieves because they will use it to open new accounts unknown to you and then all of a sudden you have thousands in debt that you did not occur, did not even know about and now you have to spend the money to prove it was not you that did it. That is the real threat from credit or debit cards .


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## paratrooper (Feb 1, 2012)

pic said:


> I get 400$+$ cash back annually for using my credit card .


A couple of months ago, I purchased three factory 20 rd. mags for my SIG P226 Tac-Ops. I used my Capital One card to buy them. I had enough cash back credits on my account to erase the purchase for the three mags. I saved about $165.00 :smt033


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## paratrooper (Feb 1, 2012)

tony pasley said:


> The info stored on the magnetic strips on your cards are the real prize to thieves because they will use it to open new accounts unknown to you and then all of a sudden you have thousands in debt that you did not occur, did not even know about and now you have to spend the money to prove it was not you that did it. That is the real threat from credit or debit cards .


I've found the best tool to combat any credit card or debit card fraud, is close monitoring. I check all my accounts via on-line several times a week.


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## pic (Nov 14, 2009)

I did have a credit card stolen, police caught the guy. I told the police to let him keep the card, he is using the card less then my wife.


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## Bobv (Oct 31, 2013)

Okay, i can tell you this and take it for what it is worth, I have a buddy who's debit card was hacked last month from a atm machine they took out $600.00 in 2 transactions over a 2 day period. they got the money back but was specificaly told by the bank not to use a debit card at walmart, the bank told them that! we live in Missouri and the acount was hacked in N.C. The bank also said never run a debit and all your transactions should be run as a credit and that hackers were getting debit info from walmart. personally I hate walmart and I don't shop there, but for you people who do , beware.......


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## paratrooper (Feb 1, 2012)

Bobv said:


> Okay, i can tell you this and take it for what it is worth, I have a buddy who's debit card was hacked last month from a atm machine they took out $600.00 in 2 transactions over a 2 day period. they got the money back but was specificaly told by the bank not to use a debit card at walmart, the bank told them that! we live in Missouri and the acount was hacked in N.C. The bank also said never run a debit and all your transactions should be run as a credit and that hackers were getting debit info from walmart. personally I hate walmart and I don't shop there, but for you people who do , beware.......


Interesting information. I guess it boils down to who you speak to, in regards to what they have to say.

We've shopped at Walmart for years and years. Never a problem or issue. Like I mentioned previously, my wife and I don't like to carry large sums of cash, and she's gotten out of the habit of writing checks for day to day purchases.

From what I have been told, both credit and debit cards get hacked, credit cards more so than debit though. Wells Fargo has assured me that if our debit card account gets hacked, and it proves to be a true fraud, they will cover any and all losses, as long as it gets reported to them within a reasonable amount of time.

I'm going to keep checking on our bank accounts on a daily basis. So far, that's been the best bet.


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## Bhoffman (Nov 10, 2013)

Steve M1911A1 said:


> As *Cait* pointed out, you have no legal or financial recourse against fraud upon your _debit_ card. You are fully responsible for all purchases made with it.
> 
> According to law, you are protected against _credit_-card fraud, as long as you report the missing card or the known misuse within a reasonable time after having discovered the loss. (However, there is a minor liability: $50.00 is the maximum, I believe.)
> 
> ...


THIS IS ABSOLUTLY NOT TRUE!

The Federal laws regarding checking/savings accounts apply to your debit card since the debit card is linked to your savings/checking account.

Federal law requires your financial institution to insure that ONLY authorized users be able withdraw monies from those accounts. There is NO Liability on your behalf, not even the 1st $50.00 as is the case on credit cards. The bank MUST refund ALL unauthorized withdrawals immediately upon notification AND the burden of proof is on the Bank to prove that it was an authorized user that withdrew the funds, NOT on the account holder claiming an unauthorized withdrawal.

There was a case that went to federal court where a lady had wrote her PIN number on her debit card with a sharpie and lost her card. She reported the card lost and the bank tried to hold he responsible for all of the withdrawals. She had a really good lawyer that knew Federal Banking Laws. The Court held that the Law clearly placed the burden on the bank to ensure that only authorized account holders be able to withdraw monies from a savings or checking account. The Bank tried to counter sue for Gross negligence because she did not "safeguard" the PIN number. The court ruled that the Federal Law does NOT provide any exemptions to the law's provisions that the Bank must ensure that only authorized account holders be able to withdraw monies from a savings or checking account.


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## paratrooper (Feb 1, 2012)

Bhoffman said:


> THIS IS ABSOLUTLY NOT TRUE!
> 
> The Federal laws regarding checking/savings accounts apply to your debit card since the debit card is linked to your savings/checking account.
> 
> ...


Good to know.

And.....you'd have to be a complete* IDIOT *to write your PIN on your debit card. Sometimes, if you're that stupid, you need to be taught a lesson.


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## Bhoffman (Nov 10, 2013)

The law, in this case, protects even idiots.

BTW, In the case mentioned, the bank revoked her debit card after reimbursing her the monies lost.


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## pic (Nov 14, 2009)

Bhoffman said:


> The law, in this case, protects even idiots.
> 
> BTW, In the case mentioned, the bank revoked her debit card after reimbursing her the monies lost.


AH -HA, 
CREDIT CARDS ARE BETTER then debit cards,lol


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