Dangers of debit: 10 places to never use a debit card!

2017-03-30T07:51:08-07:00

Clark Howard - 3/26/2017 - Alex Thomas Sadler - A lot of people stick with a debit card as a way to control their spending and avoid racking up big credit card debt — since with debit, you can’t spend what you don’t have. And in the aftermath of the Great Recession, that strategy became a very popular one as many people had to rethink their spending routine. When you only use a debit card, it forces you to limit your spending to however much is sitting in your checking account. But debit cards are full of hidden dangers — and these dangers are often the same aspects that make them an appealing alternative to credit cards — like only being able to spend what’s in your account. Here’s the problem: If a fraudulent charge is made on your credit card, there’s no immediate financial hit while you get things sorted out — since credit card bills are paid later, no money actually leaves your hands. But if thieves get a hold of your debit card or debit card number, they gain access to your entire bank account and everything in it. Read more @ http://clark.com/personal-finance-credi ... aud-theft/

Statistics: Posted by McFurd — Thu Mar 30, 2017 8:51 am

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Dangers of debit: 10 places to never use a debit card!