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debit card versus credit cards, what are the differences? James H. Dimmitt
uh, " old days & quot;. If you are serving children, like me, you probably remember how important it is rushing to the bank on pay day. I had to get there before the cashier closed roads so you can get your cash allowance " & quot; for the week. Otherwise, if you have the cash necessary to write a check, then go to the bank, and " Cash & quot; verification of the real exchange. Fortunately
days of the mad rush to get cash from the bank has long gone. Who now enjoy the convenience of using the nearby ATM machine (ATM) or until you can get the money back " & quot; in your local grocery or appropriate storage devices.
you use the card in the ATM known as a credit card. Debit cards when it appeared for the first time and it was easy to tell them apart from credit cards. Debit cards did not have a credit card by the company logo Instead, it was usually just the name of your bank, your account number and your name.
clouds today look exactly like credit cards until the cards bearing the same slogans. Both types of cards can be swiped to get out countermeasures, used to make purchases on the Internet, or pay to fill up at the gas pump.
card when using your ATM to make a purchase, but as soon as the use of money. Account card attached to your ATM, in most cases check your account, the account automatically when using the ATM card your own. Purchase cost deducted from your money in that account.
On the other hand, when you use your credit card to make a purchase you another person using funds from a specific source of credit cards, are usually banking institution.
in fact, you agree to pay them you return the borrowed money to make the purchase. In addition to that you also pay interest on money borrowed " & quot; cable at this price, you agreed to when you apply for credit cards. He knows what annual percentage (April).
while the two business cards and can look alike, levels of consumer protection that each type of card can provide different.
under federal law, if there steals your credit card you& 39;re only responsible for paying the first $ 50 of unauthorized charges. But, if you inform the source before the credit card thief unable to make any charges, you can be free from all liability. If the credit card does not exist or unauthorized adoption when buying counterfeit, such as the Internet, you& 39;re also free from liability for such fees.
Visa and MasterCard, offer zero - the responsibility to protect, where you will not pay any fees if a person uses your credit card was unauthorized to make the purchase.
protection afforded by the falsification of debit cards similar, but with a few exceptions. For example, your liability under federal law are limited to $ 50, the same amount of credit card, but only if you notify the source within two business days from the date of discovery of lost or stolen card. Responsibility for your discount card fraud could go up to $ 500 if you do not report the loss or theft within two business days.
If you& 39;re the type of person who gives the snapshot to the Bank of your monthly statement, you can fully responsible for any charges of fraud ATM card if you waited 60 days or more from the time the statement through the mail for you.
Visa and MasterCard zero - the responsibility to protect the card applies to your ATM, but only for transactions that do not involve the use of PIN (Personal Identification Number).
additional protection against fraudulent use of your credit or debit cards may be available through your house owner or renter insurance. Check with public policy or your agent for more information about your coverage.
also be aware that you should contact your certified by a letter, return receipt requested, after I had contacted them by phone to protect your consumer rights. As for the
which card to be used for the purchase of what type, most experts agree that we must use my debit card for your purchases from the same type make you as if you& 39;re using cash. Therefore, makes it logical to use my debit card from your credit card in your grocery store or gas station (provided that you have sufficient funds to cover these purchases of course).
You should avoid using ATM card of your website to buy anything or is costly. Why? The main reason is that it is much easier to dispute a charge when you use your credit card. If your gold-plated, limited edition, hip - swings Elvis clock is broken up, the company your credit card and will remove the charge to solve the problem.
ATM card with your own you are stuck dealing with the dealer directly to solve any problems in the process of purchase, even if it could indeed banking institution using gold-plated, limited edition, hip - swinging Elvis wall of the same hour.
************************************************* *********** 2003, your credit report for free now Author: James H. Dimmitt. Get a free credit report online now and Subscribe for free weekly newsletter " to your credit & quot;. Http://www.yourfreecreditreportnow.com visit for more information.
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