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RE: Credit or Debit Card - Which one do you prefer to use?

in #money2 years ago (edited)

After working at a bank, I would never recommend anyone use a debit card. So many people would come into my branch in tears because their debit card was compromised/stolen and their entire checking account balance was wiped out or in the negative. The bank fraud investigations took weeks and in the meantime, they had no money to pay rent, gas, or groceries. It was terribly sad to see it happen over and over again.

With a credit card, if it gets compromised or stolen, nothing leaves your checking account while the credit card company investigates the fraud!

!PIZZA

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Too many card frauds are happening. It is sad when people loose their fortunes. Banks are providing many facilities these days to minimise loses like setting limits on your cards. I set my card limits on minimal values,change them when I need to use for more. I am sure you must have come through so many such cases being a banker. So many scams that it is really scary at times.
Nowadays RFID card wallet is also available which is very good to protect your card for contactless swpies