Originally Posted By: martinfocazio

1. The consumer protection laws for CREDIT are much much stronger than for DEBIT.

2. DEBIT transactions rarely give you miles, points, cashback, whatever.

3. DEBIT cards can put a FREEZE on your BANK ACCOUNT for HUNDREDS AND HUNDREDS OF DOLLARS if you use them in hotels or for rental cars, as they block out your "potential" charged.

Don't use debit cards except as an ATM card.


1. I was under the impression that the consumer fraud protection for a Visa debit card, ferinstance, is now exactly the same as it is for their credit card. Perhaps you are referring to an old-school ATM/debit card without the Visa logo?

2. I don't know any millionaires that say they made it all on their Discover card bonus points.

3. They put the same freeze on your credit card. Either way you can end up liable for the authorized amount, it’s just a matter of whether you pay it now or later after the cc company has tacked on interest, late fees, over limit fees, and interest on those fees while jacking up your interest rate because they are pretending to not like you anymore.
_________________________
- Tom S.

"Never trust and engineer who doesn't carry a pocketknife."