Are Credit Cards Safer than Debit Cards?
What is Card Fraud?
Card fraud involves a criminal stealing a debit card, credit card, or all of either card’s details. Once somebody steals your card or card information, they often try to make large purchases quickly.
What Laws Protect You From Card Fraud?
For credit card fraud, consumers receive protection under the Fair Credit Billing Act (FCBA). Some credit card issuers allow you to dispute errors electronically or over the phone. Others require you to send a notice for the errors on your statement physically.
What is Credit Card Fraud?
Credit card fraud occurs when someone uses your credit card without your permission. It could be a stranger who stole your card or someone you know who “borrowed” your card without your knowledge.
When is it Safer to Use a Credit Card?
It’s safer to use a credit card for online shopping because if someone steals your card information online, they won’t have access to the money held in your checking account.
Is the Credit Card Issuer On the Hook?
The credit card issuer or the merchant is on the hook for the costs depending on the fraudulent transactions. Unless, of course, the scammer is caught.
What is Debit Card Fraud?
Debit card fraud occurs when an unauthorized person uses your debit card or PIN to withdraw money from your bank account or make purchases.
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