Debit Cards Vs Credit Cards

By Author: Danny Aaron
Total Articles: 67
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What is a Debit Card?

That card you use to draw money from the ATM is a debit card. Debit cards don't have a credit card company logo on them instead all they have is the bank logo, card number and your name. Some debit cards these days look exactly like credit cards and even carry the same logos. Both types can be used at the tills when making a purchase. Your debit card is attached to your checking account. When making a purchase with your debit card the amount of your purchase is automatically deducted from your checking account providing you have the funds available in that account. If you have less than the purchase amount the card will be rejected.

What is a Credit Card?

When using a credit card you are basically spending money you don't have. You are burrowing money from a bank with the intention of paying it back. In terms of credit card security there are a few things a credit card holder should keep in mind. You credit number is the most important thing to keep a secret. If you need to enter you card number or use it orally, always ensure that the person receiving the number is trustworthy. Always ...
... keep track of you transactions. Make sure that you remember making every transaction even the small ones. This is quite annoying but in the end will protect you against those who assume you don't check and scams you out of thousands. Again, there are people who make a living off scamming people because IT IS that easy.

Credit Cards offer Better Protection!

You are on your way to the bank now and you are weighing all the different options. What would be a better card for you? If you have bad credit debit card would be the safer option. You can function with it like a credit card for the sake of not having to carry cash around with you. However this card does not allow you to build credit. In terms of safety and security a credit card would be preferable. If someone happens to steal your credit card, you can put a stop on it making it impossible for the thief to make purchases on your card. If however you find out days later your card has been stolen, you won't be held responsible depending on your credit card supplier. MasterCard and Visa offer this facility and it's known as zero-liability protection.

Debit card or credit card?

{Most experts say that you should use your debit card for the same type of purchases as you would for all your cash style purchases. Avoid using your debit card for online or expensive payments as it is easier to dispute a charge when you have made the payment with your credit card. It also makes it easier for the banks to solve as the charge can easily be removed until the problem is resolved.

Money makes he world go round and unfortunately people think this is true. This article will deal with the questions surrounding how to protect your money from people who will do anything to get their hands on it. The big question people ask is whether a credit or a debit card would be better protected against fraud.

As most people know there is a difference between these two cards. A debit card is mainly used to draw money from an ATM and don't represent credit card companies. The card will have a specific bank logo and this is where you can use a PIN (personal identification number) to do transactions. This might sound secure enough to you but be aware that this is a common misconception. A PIN does not protect you completely, for example: when purchase something on your debit card the person entering the amount can change the amount without you even knowing. Also for expert fraudsters airing your Pin is as easy as pie. A debit card purchase also deducts money immediately from the specific account you have funds in therefore its almost like using cash.

When using a credit card you are basically spending money you don't have. You are burrowing money from a bank with the intention of paying it back. In terms of credit card security there are a few things a credit card holder should keep in mind. You credit number is the most important thing to keep a secret. If you need to enter you card number or use it orally, always ensure that the person receiving the number is trustworthy. Always keep track of you transactions. Make sure that you remember making every transaction even the small ones. This is quite annoying but in the end will protect you against those who assume you don't check and scams you out of thousands. Again, there are people who make a living off scamming people because IT IS that easy.

You are on your way to the bank now and you are weighing all the different options. What would be a better card for you? If you have bad credit debit card would be the safer option. You can function with it like a credit card for the sake of not having to carry cash around with you. However this card does not allow you to build credit. In terms of safety and security a credit card would be preferable. If someone happens to steal your credit card, you can put a stop on it making it impossible for the thief to make purchases on your card. If however you find out days later your card has been stolen, you won't be held responsible depending on your credit card supplier. MasterCard and Visa offer this facility and it's known as zero-liability protection.

The protection offered to debit card fraud is similar yet there a few exceptions. If you do not report the card lost or stolen immediately you can be liable for all illegal transactions on your debit card. Visa and MasterCard zero-liability protection applies to your debit card but only for transactions that do not involve the use of your PIN (personal identification number).
Danny Aaron manages the website http://www.creditcardsandloans.co.za, a website devoted to offering the best credit card information for consumers in South Africa.