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Missey1
Posts: 35
Registered: ‎03-09-2010

Debit vs Credit Card Use Liability

‎06-04-2012 04:27 PM

I was listening to Clark Howard today and he says that you are liable for any charges using a debit card if someone steals the card/number. For those using "credit", i.e., Mastercard, etc you are only liable for the first $50, which I knew that. What I did not know was about the Debit card. You could owe thousands of dollars. I am going to call my bank to be sure, but if this is true, I will not be using my debit card anymore.

I know they often ask if this is a debit or credit transaction and the only difference is you have to sign for credit. Does anyone know if using the debit card as a "credit" transaction might be any safer.

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