I had identity theft...What a nightmare.
Done using Credit/Debit Cards
- Thread starter Mojo88
- Start date
I think only using a chip reader or NFC based payment is a good way to minimize skimming. Maybe if we all started writing checks for merchants that only used card swipes, they would be motivated to support more quickly.
I believe it started this past October when the big credit card companies put the financial burden of fraud back on merchants who were using swipe instead of chip readers. So swiping should soon disappear.
I believe it started this past October when the big credit card companies put the financial burden of fraud back on merchants who were using swipe instead of chip readers. So swiping should soon disappear.
I have have two credit cards. I have one that I use for places I trust that are not sketchy and one that I need to put money on that I use for everything else. It works pretty well because if my second card ever gets stolen than they wont get that much.
Please, for your own safety, never use debit cards. As some have pointed out here, once a debit card is charged, your money is gone immediately, unlike with a credit card where you now simply have a balance. If your debit card is fraudulently used, you are at the mercy of the issuer, unlike with a credit card where you have federal laws protecting you. I have had a few fraudulent charges on my credit cards, and all it ever takes is a call to dispute the charge. Carrying cash is just too risky. If your cash is stolen, it will never come back. If you buy anything with cash and it breaks, you have no credit card company that offers an extended warranty. If a merchant refuses to refund you your money, you're SOL if you used cash.
+1
All I ever use are credit cards anymore and just pay the balance every month. I've had fraudulent charges on them many times but was never out a penny.
This 10000x over...
I never use my debit card for anything...maybe once every 4 or 5 months to withdraw cash for whatever reason. I don't even carry it in my wallet. Credit cards have significantly better fraud protection policies and many have spending perks/bonuses - most of which are now available without any annual fees or spending minimums. With that said, credit cards do require more financial management and personal diligence......it's almost too easy to spend money that you do not have.
It's expensive but pre-paid Visa cards.
I've used these. They are very expensive, but sometimes, its the right thing to have. I like the anonymity and untraceable factor, like if you're paying for something online with a merchant that you're not sure about. If your account number is stolen, you have limited liability.
I get them sometimes when I need extra cash to take on vacation, or to tide me over until payday. (I can buy these on a credit card I have, but that same card won't give me a direct cash advance.)
Read the terms on the back of the card carefully. Some of them have a per-transaction fee of $0.50 or $1. Some of them have purchase fees that are ridiculously high, like paying $3.95 on a card that's only worth $25. That's the same as 15.8% interest. I usually get a $500 card and pay $4.95 for purchase. That's only 1%, so its not too bad.
If possible, get a card that's refillable, but I have yet to find one that doesn't have other attached fees that make it a bad deal.
I don't use my debit card except at the ATM inside my place of work. It's an insurance company, so it's not publicly used.
I use credit cards for all my auto-pay and plastic purchases.
But I really do prefer cash for restaurants, bars or petty purchases.
I use credit cards for all my auto-pay and plastic purchases.
But I really do prefer cash for restaurants, bars or petty purchases.
Wait until you've had someone else file an income tax return in your name (state and federal)
.....Real fun. not!
.....Real fun. not!This depends on the bank. I use WellsFargo debit card as a credit-card (e.g., just swipe, don't enter pin) and had an issue once with a fraudulent charge. They called within 2 hours, verified that it was fraud, and restored the purchase amount to my account immediately while deactivating the compromised card. Another time, I had the bank freeze the card before authorizing the (fraudulent) purchase, and call me to verify. Charge denied, card re-issued.
I also have purchase limits, as well as daily limits on the card so it's easy to stop any mass purchases. The bank is good about catching any "inconsequential" purchases meant to test compromised cards.
Nothing is foolproof though. Just the way it is. I recently read an article about how you can get to the history in a printer/scanner and view previous jobs. Just think about all the doctor/dentist offices that have no idea, yet copy patient licenses/ID cards as a normal practice.
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Do it, make the jump! I have 1 CC that is use for travel and business transactions (buying supplies). Other then that, I pay cash for almost everything (have for the last few years).
It takes a little getting use to... like knowing which stores can/will break a $100...lol
One of the first things you'll notice is just how many people don't use cash and how many can't give you the correct change
It takes a little getting use to... like knowing which stores can/will break a $100...lol
One of the first things you'll notice is just how many people don't use cash and how many can't give you the correct change
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