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Protect yourself from fraud and financial loss!

Do you know the difference between credit and debit when it comes to fraud liability? Don’t leave your financial security to chance.

So, what happens if your Debit Card is compromised?

Your Debit Card is linked directly to your checking account. Anything that is spent on that debit card is deducted from your working balance. And when the money is gone, it is gone.  If you don’t notice this right away, it can cause other problems including overdrafts and bounced check fees.  Disputing these charges with your financial institution can take time and you may not get your money back right away or at all depending on the circumstances.

Your liability when using your debit card depends greatly on the policies of your financial institution. In the worst-case scenario that you don’t notice the fraudulent charges for more than 60 days, you could be responsible for all the charges. Be sure to get the full details from your financial institution regarding their polices on fraudulent transactions.

How about my Credit Card?

By definition, spending with a credit card means you are spending money you don’t have, it’s a loan.   So, unless you don’t have enough money in your checking account to make a purchase, why would you ever use a credit card? Fraud protection is one big reason. Credit cards provide automatic, predictable fraud protection that limits your liability in case your card is stolen or used without your permission.   And thanks to the Fair Credit Billing Act, you have little or no liability for unauthorized charges, damaged goods or for merchandise that was never delivered. Credit card issuers also provide dispute settlement when you order something that wasn’t what was promised or if the merchant refused to refund you. This type of protection is very important for mail/internet ordering or in cases of identity theft.

Choose credit for greater protection against unauthorized transactions and fraudulent charges.
Switch to credit today and enjoy peace of mind with every purchase.