Q Talk

[San Antonio Gal]

If debit cards were such a high risk card to use, banks would no longer issue them to all their customers.  If there are problems with fraud, it will be cleared up in a matter of days - not weeks.

[Mz iMac]

What Happens When You Use a Debit Card as Credit?

If you select credit, this doesn't mean you're buying the items on credit and that there's a grace period. It does mean, however, that there's a lag time before the funds leave your account.

It takes longer because the transaction doesn't happen in real time. It can take up to two or three days because now the merchant’s credit card processor and the payment gateway (e.g., Mastercard or Visa) are involved.

But don't assume that you can spend money you don't have because there's basically a float time. If you don't have enough money in the account, your transaction may be denied during the verification process. Even if you slide through that checkpoint, you run the risk of having insufficient funds when the transaction hits your account.

You could always set up overdraft protection, but I don't recommend that. It's better to have your card denied than to buy something you can't afford at that moment. It will be uncomfortable, but I promise that you won't die of embarrassment!

SOURCE: money.usnews.com/credit-cards/articles/can-a-debit-card-be-used-as-a-credit-card#2

[BalletBabe]

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@San Antonio Gal wrote:

If debit cards were such a high risk card to use, banks would no longer issue them to all their customers.  If there are problems with fraud, it will be cleared up in a matter of days - not weeks.

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@San Antonio Gal   You are correct.  I have always used debit cards.  I only had a problem once as I placed a order for a ladder.  I got no confirmation and could not get a hold of the seller.  The bank gave me a new card the next day and refunded the money to my account.   

[Pook]

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@SilleeMee wrote:

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@Pook wrote:

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@SilleeMee wrote:

I never use a debit card. In fact I don't even own one. Debit cards are like a doorway leading right to your bank account and if a crook can get access then your money will be gone. Using a debit card to do business over the internet just spells trouble, especially if you are using an older computer.

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You use it as a credit card because you do not have to put your pin in on the internet and actually should be doing that anywhere locally and don't ever use your pin.   Money comes out of your bank account but Visa or MC handles it and your money in your account will not be accessed by a crook!   I also have mine put in paypal that I can use to order online and issues will be covered by paypal.

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It's not so much about how you 'log on' to using a debit card (password, pin or whatever) but it's about the electronic trail it leaves behind which crooks can pick up and use.  Debit cards do not have the fraud protection that credit cards offer. 

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The fraud protection comes from VISA if debit card is used as a credit card!  Both Visa and my bank explained it to me when my card was compromised and caught by my bank.  VISA is responsible for reimbursement if compromised.  No trail left that can be used to access your bank account!  That is why you should never use your card as a debit card even for gas and groceries and everything for that matter  - just bypass the enter pin when using.

[Pook]

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@Etoile308 wrote:

You may eventually be able to recoup losses when a debit card is hacked, but think about how long your account would be locked and not accessible. I doubt banks would resolve the issue in a day or two but instead take weeks.

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@Etoile308 Account number will be locked but bank will close out that account number and immediately issue a new number and card.  My bank even kept the number open for ATM with PIN until a new card came after they found someone had tried to use my card to purchase something online and blocked the purchases.  I got my new card within 6 days.  

[CalminHeart]

I always use easy pay. If I decide to keep an item, I pay off the easy pays. If not, I have to wait for a small refund.

[misschristy]

Banks take much longer to resolve issues. I usually don’t do a bank. If there is a real problem a credit card will help you resolve the issue.

[DJs mom]

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@Etoile308 wrote:

You may eventually be able to recoup losses when a debit card is hacked, but think about how long your account would be locked and not accessible. I doubt banks would resolve the issue in a day or two but instead take weeks.

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@Etoile308 not true with my me. I have a Visa debit card issued through Wells Fargo and they will put the funds into your account in a day and investigate the issue in the background.