Why I Don’t Use Debit Cards
Posted on July 25th, 2011
Debit cards are everywhere. They can be used as a traditional debit card by using your pin to get cash at ATMs or by using it as a credit card to make purchases. Many people don’t even bother to get a credit card as a debit card pretty much does the same thing. Well I have always been against using a debit card and here’s why:
It is a gateway to your checking account, your stash of cash that you use to pay bills, buy groceries and gas, etc. What would you do if someone got a hold of your debit card number and cleaned that all out? Sure you can dispute the charges with your bank, but while you do it, that money is still gone. It may take months until it is resolved and you see that missing money, so what are you going to do in the mean time? Using a proper credit card makes more sense because if someone gets your number and uses it to make unauthorized charges, you just dispute them with the credit card company and never have to pay anything until it is resolved.
I do use my debit card to get cash at ATMs, but I try as best as I can to take out money only at reputable banks. I stay away from that cheap looking ATM machine in the back of a bar near the bathrooms as you have no idea what information is stored on that thing or where it goes or who may have access to it.
Obviously the decision is yours, but for the number of times I have had a credit card number compromised, I am never willing to let that happen to my debit card and have to deal with the temporary loss of cash.
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Tags: Cards, Debit Cards
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