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Posted by Doug Jacobs on 05/04/07 00:19
In alt.video.dvd The Meerkat <the_meerkat@hotmail.com> wrote:
> Simple solution. If you must have a card, get a debit card instead and
> keep low amounts of money in the account.
Not such a good solution.
First, most places don't even make you enter a PIN to use a debit card.
One swipe, and the money's gone - YOUR money. I saw an article that a
cashier at a Burger King accidentally charged a customer $2200, instead of
$2.20. The mistake was immediatly caught by the cashier, but there was no
way to transfer the money back in a timely fashion, resulting in all sorts
of problems for both the restaurant and the customer.
Second, unlike credit cards, it's really not in the bank's best interest
to help you resolve a faulty debit card charge. Why? It's not their
money. With a credit card, the bank takes on the charge in the hopes that
you'll pay them back (hopefully with lots and lots of interest...) If
there's a dispute over a credit card charge, the bank hasn't gotten paid,
so they're going to be a lot more interested in helping figure out who's
got their money.
Furthremore, you're protected by federal law from credit card fraud, so
all these banks blathering about how they provide fraud protection - it's
nothing new. They've always had it.
Always carefully review your credit card statements each month. If you're
worried about things like skimming/cloning, there are some credit services
that can monitor your accounts for "unusual" behavior. Sometimes the bank
will do this for you, but don't always count on it.
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