Credit or Debit Cards: Which is Safer to Use?

5 02 2014

Under the Electronic Fund Transfer Act, consumers aren’t responsible for more than $50 if a lost debit card or fraudulent charge is reported within two days. If the loss is reported 60 days after a statement containing fraudulent charges is mailed, a consumer’s liability jumps to $500. If an unauthorized debit transaction is reported more than 60 days after the statement is mailed to the consumer, the damage can be unlimited.

Fraudulent charges on a credit card can be reversed in 24 hours or less, but it can take up to two weeks to have funds restored to a debit card account. In the meantime, bills or other expenses could pile up.

And here’s our Poll question for our readers.

We’re Just Askin: Living Well – does that mean you

23 02 2012

We’re Just Askin’: New Year’s Resolutions – do you make any?

12 01 2012

We’re Just Askin’: Smart Phones – do you have one?

19 10 2011

We’re Just Askin’: Career Increase

7 04 2011

We’re Just Askin’: Do You Lend Money To Friends?

2 09 2010

We’re Just Askin’: If you Won the Lottery

24 06 2010

%d bloggers like this: