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Subject:  Re: Poll: Debit cards Date:  6/26/2002  4:54 PM
Author:  galagan Number:  17196 of 24368

I don't understand why anyone who can get a credit card would use debit cards:

1. Credit cards give you the free float.
2. Credit cards have better fringe benefits (air miles, cashback rebates).
3. Credit cards give you better fraud protection.
4. Credit cards let you consolidate your expenses into one easy monthly payment. No balancing each little payment you make into your checkbook.

I believe that the shift to debit cards is an attempt to eliminate the credit risk involved with credit cards while retaining the bulk of the fees charged to merchants. It is a Trojan horse being offered to consumers, and eventually the free float and other perks of credit cards will be eliminated.

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