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Personal Finances / Credit Cards and Consumer Debt

URL:  https://boards.fool.com/i-reiterate-the-problem-i-have-with-debit-cards-10548013.aspx

Subject:  Re: Are you a Fool or a fool? Date:  1/25/1999  2:01 PM
Author:  NaggingFool Number:  6479 of 312858

I reiterate the problem I have with debit cards.

Someone stole my Discover card number in December and charged $500 worth of clothes from a catalog.

Since it was a credit card, Discover removed the charge while they investigated the fraud.

If that had been a debit card, I would have been out the $500 from my checking account while the fraud was investigated. Plus all of the hassle of cancelling a checking account.

If you need to have plastic, please remember the problems with Debit Cards. Definitely do not have a debit card from an account that has overdraft protection to your savings account. Ow.

-Megan
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