The Dangers of Debit Cards
Let's face it, there is almost no truly safe way to handle your money anymore since just about everything can be hacked. Short of storing your money in your mattress and using cash only, you're pretty much vulnerable no matter how you chose to conduct your business transactions.
On top of everything else, there is an article in The Week that warns of some of the dangers of using your debit card instead of your credit card for your everyday purchases. The article points out three main reasons NOT to use your debit card for those purchases.
First of all, that debit card ties directly into your bank account and, if someone get their hand on your card, they could take actual money. Not only that, but your credit card is protected and you can refute the charges, but with your debit card, the money comes right out of your account the moment you use it.
Secondly, you just don't have the kind of fraud protection with your debit card. If someone uses your credit card, there's a law that says you only have to cover a maximum of $50, but with your debit card, you're stuck for the entire amount and that could be ugly.
Finally, it's much easier to lose track of your balance when you just whip out the old debit card. More than one person and gone a little crazy and ended up with overdraft fees. For some reason, using a debit card just doesn't feel like spending real money. If you do have to use your debit card a lot, you can avoid problems by checking your balance frequently.
The final piece of advice from the article recommends that you use your credit card aqs much as possible and pay off your balance every month.