01.24.08
More Reasons to Choose Credit Cards over Debit Cards
Awhile ago, I wrote a blog about being careful with debit cards. I recently read an article in the Reader’s Digest that listed three things to avoid probable fraud when using debit cards.
Clark Howard, radio consumer advocate, says to never use a debit card any place your card is taken out of sight like in a restaurant.
Don’t use debit cards for online purchases, especially if you don’t know the retailer’s reputation.
Watch out for debit overdraw fees. Most of us don’t carefully track our debit receipts, thus it is easy to overdraw your account. It used to be when your checking account had a zero balance that you could no longer make purchases, but now most banks have courtesy overdraw loans, but the catch is, the average fee for courtesy loans is $34.