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0 pointseuio7573d ago0 comments

Setting weird rewards/cash back things aside, which is the main incentive for folks to use it over debit card in most places:

It's not fully unnecessary step in-between when fraud is involved.

If someone hacks you/deceives you and somehow they got $5000 from your debit card, then your bank account is $5000 smaller. That can impact your ability to pay rent, or whatever you needed those $5000 for.

If it's via credit card, you have a decent amount of time to contest and resolve the issue.

the disputed amount should effectively be removed from your balance or offset by a temporary provisional credit until the investigation is completed

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3 comments · 2 top-level

xdennis3d ago· 1 in thread

> If someone hacks you/deceives you and somehow they got $5000 from your debit card, then your bank account is $5000 smaller.

That's a myth. I had my debit card cloned and some money stolen. The bank gave my money back. Debit cards are protected too.

euio757OP3d ago

That's not a myth and your story doesn't invalidate what I said. Never said Debit card aren't protected

Between the time [some money stolen] and [bank gave my money back] your checking account balance was lowered by the amount stolen.

With a credit card, your checking account isn't directly affected.

Both are protected, the difference is your effective checking account balance in the time window between the time the money is stolen and the money is recovered.

FooBarWidget2d ago

> If someone hacks you

Transactions are protected by 2FA, they have to steal your phone and know your bank password. Whereas with credit cards, you have a single shared secret (number + CVC) with all merchants. Just one merchant needs to leak it.

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