When to Ditch Your Debit Card

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cardholder Benefits » When to Ditch Your Debit Card

When to Ditch Your Debit Card


Updated: April 16, 2018

The content is accurate at the time of publication and is subject to change.

There has been a growing trend of consumer reliance upon their debit cards through the recent nationwide economic turmoil. While a debit card can be a very useful financial tool especially for people who are trying to train themselves to practice more financially responsible behavior, there are some times when a debit card just won’t do.

Wi-Fi Hotspots

If you like to go online in coffee shops, internet cafes or anywhere else where the online connection is provided via free public WiFi, never use your debit card should you find yourself making a purchase online. Those wireless connections tend to be unsecured and that means that it would be a cinch for a thief to gain access your personal information. Typically, the connections are unsecure and a hacker can gain access to any information you may have on your computer.

Bars & Restaurants

It’s a good habit to get into the habit of using cash when eating out at restaurants or hanging out at a bar. There are too many prying eyes around in those situations that may be feasting themselves on your debit card digits. Also, in the unlikely event that a dishonest employee decides to skim your card they have ample opportunity to do so – eating and drinking establishments are the few places in where your card is whisked away and remains out of your sight for several minutes. Most service industry personnel prefer being tipped in cash, anyway.

Deposits and Rentals

Always use a credit card rather than a debit card when renting equipment or a car. The rental company usually with holds a security deposit for the duration of the rental agreement. While this money is refunded upon your return of whatever it is you borrowed, if you use a credit card instead of a debit card they simply “freeze” a portion of your available balance for the security deposit, which you will likely not even notice, as opposed to tying up a chunk of cash in your checking account.

Shopping Online

If you view the worldwide web as your personal shopping mall, you should find other methods to pay for things rather than dishing out your debit cards details. Despite the afore-mentioned security concern, should you have a problem with your order it can ultimately prove to be a trickier undertaking to have the money refunded to your checking account instead of having it credited back to your credit card.

In the unhappy event that your card number is stolen, you don’t want the integrity of your entire bank account compromised. If you detect and suspicious activity call the Bank and change your account and checking account numbers, It’s better to be safe than sorry.

Also, with all the new debit card fees looming on the horizon, soon using cash or a credit card at the point of sale will save you money!

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related Research:

Top 5 Secured Credit Cards: October 2020 – Experts’ Choice

Top 5 Secured Credit Cards: October 2020 – Experts’ Choice

Posted: June 22, 2020

The COVID-19 pandemic has made significant changes not only in people’s lives and their financial standing but also in the entire financial sector of the U.S. We have collected the best secured card offers from our partners so that you can… Continue reading

Top 5 Soft Pull Credit Cards: October 2020 – Experts’ Choice

Top 5 Soft Pull Credit Cards: October 2020 – Experts’ Choice

Posted: June 3, 2020

When applying for a credit card, you definitely don’t want your credit score to go down. Here, you will find the best credit cards with a soft pull from our partners. An application for such cards won’t make changes to your credit history… Continue reading

Top 5 Store Credit Cards: October 2020 – Experts’ Choice

Top 5 Store Credit Cards: October 2020 – Experts’ Choice

Posted: May 30, 2020

We evaluated store credit cards offered by our partners to find the best store credit cards. They are often loaded with perks that will allow you to save on purchases at your favorite retailer. Plus, many store credit cards are available… Continue reading

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!