Debit card article in Reader’s Digest
Question: I’d love to know any reason that someone would use a MC/Visa logo >>>> debit card rather than an actual credit card, because I can’t think >>>> of any good reasons.
>> No possible risk to their credit status due to spending beyond one’s >> means.
> Also useful to people with bad credit who can not get a regular card.
Coincidentally, there is a real life problem with a debit card just down the article list here under “Do Not Buy From Circuit City”
Answer: I saw that thread.
The bigger lesson the original poster on that thread should have learned is to _never_ use a debit card for big ticket items. You lose all the consumer protection that the Fair Credit Billing Act extends to credit card purchases. _You_ have to fight to get your money back in your account, rather than have the store fight to get the money from the credit card issuer.
Always use a credit card for big ticket items. You gain important consumer protections, plus if you return or cancel the order within the same billing period, you’re not out any money at all.
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Filed under: Bad Credit Loan
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