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Debt Card use on the Internet is a big NO-NO. (Reply to this comment)
by Yarborough
You made a reference to needing plastic (debt card?) for internet purchases.
You really should never use this card which is an extension of your checking account.
Most major credit cards hold you liable for only $50 for internet misuse. American Express covers you completely and holds you liable for $0 dollars for internet misuse.
Internet misuse of a debt card will empty your account with no recourse. I suggest just one credit card for exclusive internet use that you only use when you have the money to cover it and pay it immediately.
Yes your number is "secure" when it's sent, but what happens to it in some i-commerce database afterwards is a concern.
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Apr 25 '01
9:43 pm PDT
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Revision understood. (Reply to this comment)
by pshan
I am sorry I didn't make my point clear enough. You stated in the beginning to let your credit cards meet your scissors and use debit cards instead. If you are going to start with that premise, I would assume you would expound on the benefits of debit cards as compared to credit cards. Your original article did not do that, so I brought up a few points in my comment that I do understand about credit cards, and wondered if debit cards have the same features. Your revision still does not address those points.
I did not mean my comment as an offense to you. I just thought that a few more comparisons were needed in the review. In fact, the very reason I don't like debit cards is because if I lost mine I would have no protection against someone draining my account. With my credit card, if I report the thing stolen, my liability is limited. Do debit cards have that feature? Your article doesn't say. But you know all about this already, working at a large credit card company.
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Apr 11 '01
8:10 am PDT
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Other gotchas? (Reply to this comment)
by pshan
I still use a credit card even though I have a debit card. I almost always use the credit card, and never use the debit card. Your article makes some very positive points about debit cards, but what about some other negatives?
(1) Do debit cards have limits on charges if the card is lost or stolen? With a credit card, I think the limit is $50 (maybe it varies). If not, then your checking account could be drained before you even know that your debit card was stolen. If it does have protection, then this isn't an issue.
(2) Do debit cards allow you to dispute a charge in case the company you buy something from doesn't live up to their end of the bargain?
(3) Do debit cards have features like extended warranties on purchased merchandise, automatic car rental insurance, or other perks? Some credit cards do, but not all, and some that do charge for the service.
If you could cover those points or others you think of, I'd reconsider my rating.
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Apr 10 '01
1:40 pm PDT
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