Credit Card Deals Are They Better Than Debit-kairui

Credit Everyone knows that a credit card is a very useful tool in money management. But it is also a great responsibility. Immature credit card users quickly get into debt. They fail to pay off their balances and end up declaring bankruptcy. That is why a lot of people believe that credit cards cause more trouble than they are worth and it is better to use debit. There are several obvious advantages of debit cards. You can not spend more money than you have and thus get into debt. You do not have to pay extra fees and APRs. However, those who advocate debit card usage forget about one very important issue security. There is no need to argue over how urgent this problem is with credit/debit card fraud being in top 7 among Internet crime categories reported by Internet Crime Complaint Center. Even if you do not perform any cashless transactions online your card information can still be stolen anywhere you use your plastic for payment at a restaurant or a gas station. And even if your personal information is not stolen you can simply be overcharged for your own purchases. And the question always is how liable am I for these transactions? The answer to this question depends on the type of plastic you use. All debit card transactions are regulated by Electronic Funds Transfer Act. According to this act you need to report the unauthorized transaction to your bank during two business days and your liability will be limited to $50. You are given 2 months to report the fraud to your bank if you do not want to pay more than $500. After two months you are fully liable no matter how outrageous the transactions are. Some banks offer what they call limited liability policy for their clients. But even if you think you qualify for reimbursement the bank has the right to decide whether you have exercised reasonable care in protecting your plastic. In other words, the bank might state that the fraud is your own fault and you should be held liable for all the transactions. Credit cards are quite a different story. According to the Fair Credit Reporting Act the bank can not hold you responsible for the unauthorized charges. If you check the terms and conditions of your credit card you can see the Zero Liability sign. If you have become a credit fraud victim you need to remember that your liability is limited to $50 regardless of the amount of money transferred from your credit account. All you need to do is dispute the charge that is unauthorized. Of course, its not a quick and easy process and you will have to prove that you have not authorized the transaction. But it is still better than being charged for something you have never purchased. So if your are still deciding whether you need to apply for a credit car deal or keep using your debit account think about how much trouble you can avoid with a credit card. About the Author: By: Luna – Know more about smart card from this article, learn smart card functions, applications. By: GoodContent – At RJD Card Services, we offer many free credit card processing options to help your retail, hospitality or eCommerce business grow. RJD Card Services offers the most competitive processing rates on the market. RJD is recognized b … By: Jill Cohen – Myths exist in every industry – while some may be true, some are definitely not. Same is the case with credit repair industry. People begin to accept these myths as actual credit repair practices and suffer a great deal. By: Visionpayments – Its never been easier to start a business. Set up a website, find a merchant service, and sell your product. Youre probably not thinking about credit card fraud, but there are a number of people out there who look for ways t … By: Connie H. Deutsch – Our priorities have changed over the last couple of generations. Nowadays, people are spending more on things that make them feel good than worrying about paying for the things they buy. There are more people today who have cred … By: Eric Hannelius – The business world is a competitive place. Whether youve been in the game for decades or youre just starting out as an entrepreneur, youre well aware that its hard to get anywhere unless youre one step ahead of the … By: blairilliano – Bad credit refinance services help consumers fix their credit. Find out how and why a good credit score is important for a refinance mortgage even if there is equity built up in the home. By: Mia Frizzell – Image Stabilization helps you to take stable images while moving, thus getting sharper and focused images. The complete range of digital cameras is available in all leading stores in Kolkata. The D3100 also comes standard with hig … By: Eric Hannelius – High risk credit card processors are companies that help businesses process the credit card purchases that their customers make. When these accounts are set up, the business can make more money from each customers. By: Lawren Cooper – Chase credit card provides you a certain point for each dollar, which you spend and there are not limitatio6ns on the rewards, which you can earn. Apart from this, there is no date of expiration on usage of your points. Even you c … 相关的主题文章: