| Even if you write the check while waiting in line, it will | | | | Debit cards don't have some of the legal protections |
| take you forever to pay by check in most stores. | | | | that credit cards have. Credit cards give you the right |
| They have to see your driver's license, write down all | | | | to withhold payments on an item that is defective. |
| of your info, circle your address and then run it through | | | | Debit cards don't allow this, so you would have to try |
| the system. It isn't the store's fault. The need for all of | | | | to get a refund or replacement item. For large |
| the double-checking is caused by check fraud and | | | | purchases, you are often advised to use a credit card. |
| identity theft. | | | | Then simply sit down and make the payment to your |
| Many shoppers, myself included, have turned to debit | | | | credit card company that same day. |
| cards. Debit cards aren't really like credit cards, they | | | | Debit cards require that you report a theft of your |
| are an electronic check. But some banks are starting | | | | card within two days of discovering the loss to recoup |
| to offer frequent flier miles, rebates and cash rewards | | | | some of your stolen money. If you follow all guidelines, |
| to regular debit card users. The lines are blurring for | | | | you will only be liable for $50. After two days, you are |
| some consumers. | | | | liable for $500. After 60 days, you are left holding the |
| When you shop with a debit card, you need to know | | | | empty bag. |
| how it works and the drawbacks. | | | | Credit cards often will offer more protection than the |
| There are two types of debit cards: PIN cards and | | | | law allows. Several cards offer zero liability for |
| signature cards. With a PIN card, the money is | | | | unauthorized use of a debit card. |
| automatically deducted from your account. You must | | | | While a debit card often gives you the ability to use it |
| use your PIN number to use the card. Sometimes you | | | | in place of a credit card, say for telephone or internet |
| can even get cash back from a merchant. | | | | shopping, there are times that you should use a credit |
| Signature cards are often called check cards. The | | | | card instead. Hotels, rental-car companies and even |
| money is deducted from your checking account within | | | | gas stations will place a hold on your account for a |
| usually two or three days. You don't have to enter a | | | | certain amount of money until you check out or return |
| PIN, you simply sign the receipt. | | | | the car. The practice ensures them that you have the |
| Most cards today will perform as both types of cards. | | | | money to pay the bill. |
| You can use it as a PIN card and receive money back | | | | If you use a card with the available credit, you probably |
| or as a signature card. Both types will work in an ATM | | | | won't have any problem. But when using a debit card, |
| machine. With a PIN card, the money comes out of | | | | be careful. The amount they place on hold is exactly |
| your account immediately. With a signature card, you | | | | as if it has already been spent. This could prevent you |
| have to keep track of your receipts, because, like | | | | from having checks go through or withdrawing money |
| checks, the money will not come out for a few days. | | | | from your account. |
| Debit cards are a good alternative to credit cards. You | | | | The best advice for using a debit card is to be |
| have the convenience of a card with a limitation to the | | | | meticulous about keeping your receipts and writing |
| money that is in your checking account. While you | | | | them down in your register. It is so convenient, often |
| can't go on a spending spree, you must keep track of | | | | we loose track of how and where we have spent the |
| when you use the card. It can be quite surprising how it | | | | money. |
| all adds up. | | | | |