Saturday, April 28, 2007

Credit Card Machines 802

Debit Card Vs. Credit Card, What Are The Differences?
By James Dimmitt

Ah, the “good old days”. If you are a baby boomer, like me,
then you probably remember how important it was to rush to the
bank on payday. You had to get there before the teller lanes
closed so that you could have your “cash allowance” for the
week. Otherwise, if you needed cash you had to write a check,
then go to the bank, and “cash” the check for real cash.

Fortunately the days of the mad rush to get cash from the bank
are long gone. We now enjoy the convenience of using a nearby
automatic teller machine (ATM) or you can even get “cash back”
at your local grocery, hardware or convenience store.

The card you use at the ATM is known as a debit card. When
debit cards first appeared it was easy to tell them apart from
credit cards. Debit cards didn’t have a credit card company
logo on them; instead, they usually just had your bank name,
your account number and your name.

Today debit cards look exactly like credit cards even carrying
the same logos. Both types of cards can be swiped at the
checkout counter , used to make purchases on the internet, or
to pay for the fill-up at the gas pump.

When you use your debit card to make a purchase, it’s just like
using cash. The account that is attached to your debit card, in
most cases your checking account, is automatically debited when
you use your debit card. The cost of your purchase is deducted
from the funds you have in that account.

On the other hand, when you use your credit card to make a
purchase you are using someone’s else’s money, specifically the
issuer of the credit card, usually a banking institution.

In effect, you agree to pay them back the money you borrowed to
make your purchase. In addition you will also pay interest on
the money “loaned” to you at the rate which you agreed to when
you applied for their credit card. This is known as the annual
percentage rate (APR).

While the two cards might act and look alike, the levels of
consumer protection that each type of card provides can be

Under federal law, if someone steals your credit card you're
only responsible to pay the first $50 of unauthorized charges.
However, if you notify the credit card issuer before a thief is
able to make any charges you may be free from all liability.
If the credit card is not physically present when an
unauthorized or fraudulent purchase is made, such as over the
internet, you’re also free from liability for those charges.

MasterCard and Visa offer zero-liability protection where you
won’t pay any charges if someone uses your credit card to make
an unauthorized purchase.

The protection offered to debit card fraud is similar but with
a few exceptions. For example, your liability under federal
law is limited to $50, the same as for a credit card, but only
if you notify the issuer within two business days of
discovering the card's loss or theft. Your liability for
debit card fraud can jump up to $500 if you don’t report the
loss or theft within two business days.

And if you are the type of person that gives a passing glance
to your monthly bank statement, you could be totally liable for
any fraudulent debit card charges if you wait 60 days or more
from the time your statement is mailed.

Visa and MasterCard zero-liability protection applies to your
debit card but only for transactions that do not involve the
use of your PIN (personal identification number).

Additional protection against fraudulent use of your credit or
debit cards may be available through your homeowner’s or
renter’s insurance. Check your policy or with your agent for
more information about your coverage.

Also be aware that you should contact your card issuer by
certified letter, return receipt requested, after you’ve
contacted them by phone to protect your consumer rights.

As for which card to use for what type of purchase, most
experts agree that you should use your debit card for the same
type of purchases you’d make as if you were using cash.
Therefore, it makes more sense to use your debit card than your
credit card at the grocery store or gas station (provided you
have sufficient funds to cover these purchases of course).

Avoid using your debit card for any online purchase or for
something which is expensive. Why ? You’ll find it much
easier to dispute a charge when you use your credit card. If
your gold-plated, limited edition, hip-swinging Elvis wall
clock arrives broken, your credit card company will remove the
charge until the problem is resolved.

With your debit card you are stuck dealing with the merchant
directly to resolve any problems with a purchase, even if your
banking institution could really use a gold-plated, limited
edition, hip-swinging Elvis wall clock of their very own.

About the Author: © 2005, Author: James H. Dimmitt
James is editor of “To Your Credit” a FREE weekly newsletter
focusing on managing your personal finances and credit.
Subscribe and get a FREE copy of your credit report when you



Anonymous said...

Υou shouldn't set a goal for the sake of it; you need to want to achieve it. We think we should 'outgrow' these dependency needs, to be able to take care of ourselves. , unwelcome advances towards the wrong gal -- had a severe cost: expulsion from the tribe.

my web blog; big deal

Anonymous said...

Actually, the handbags and purses are not only the
accessories for women but also they are friends of women.
When we are talking about the handbags, the majority of fashion lovers prefer
to carry a designer handbag to match their attire.
There are varieties associated with online stores that market inexpensive cheap handbags.

Anonymous said...

That is not to imply, that you should without
understanding it follow any specific fashion
trends. Ladies legs were definitely on show during this era with women wearing sheer stockings and garters along with high heeled T Bar shoes.
Don't overspend as you will not wear the wig the next time.

My web site ... Flapper Dress

Anonymous said...

Capitalize on Best Price Guarantees Do not quit seeking out
deals after you buy from a third party vendor.
Leading out for a golf vacation might sound like something that isn't easily low-cost, but thanks to the accessibility of progressively popular discount golf vacations, nearly anyone can now act they are Tiger Woods at Pebble Beach - at least once. Gottadeal also offers the newest Black Friday deals and you can get on a separate email newsletter to receive these around Thanksgiving.

Here is my website - hotdeals

Anonymous said...

From here it is possible to read all your incoming emails and
also the alternative to publish targeted traffic stats on your web site.
There is a wide range of cheap homecoming dresses available for you to
choose, I believe you will choose the perfect one finally.
The shirt can be matched with a dress skirt and jacket for work,
then with a pair of jeans for a casual encounter

Here is my blog post ... cheap dresses

Anonymous said...

During this day and age, Ӏ сannot rеally imаgine anуone I know who wouldn't take pleasure in investing in and using a Smartphone. The interiors of the bags are as stunning as the exterior, and the bags are quite roomy, which allows for lots of space to accommodate all your essentials. Travelling back from a workshop in Ireland a couple of years back, I sat myself down at a comfortable window seat on the midday Dublin to Geneva flight.

Take a look at my blog post; cheap handbag

Anonymous said...

A satin, silk or chiffon fabric is appropriate for cabaret costumes.
So, if you're married, successful, and an ex-flame is promoted as your new boss, watch out-especially if she looks like Demi Moore. Victorian era, leather gloves were quite popular but now followers of Victorian fashion will order them in any range of fabrics, often with ornate decorations.

Look at my web site; harem pants

Anonymous said...

I bought all they had, about 30 of the flavors I like. Apart from
the rest of the smartphones which are lately available in the market,
Motorola Defy Plus is the toughest phone around.
It is difficult for those without the knowledge and these insider tips.

my blog - Super deal

Anonymous said...

Steven said that performance was "so over the top it defies judging. Clip art can also help you customize your themed dance party for grown-ups. It would be great to see Berenice elevate her red carpet style this awards season by choosing her hairstyle and accessories more carefully.

Here is my web-site :: flapper dress

Anonymous said...

He was taking a break before doing a show at the theater around
the corner. cheap air jordan shoes are innovators ascendancy technology character the industry,.

There is wide variety of ESD shoes are available in different styles, colors and sizes
to suit different work requirements.

Take a look at my site ::

Anonymous said...

Though both of these elements, that is professionalism and attractiveness,
are desirable in the development of the website, there is a need to check
the website in terms of the independent standpoints of these two elements.
I've known some people who could be staring at an open door and not even see that it's open,
let alone realize its significance. There had been speculation for weeks that J-Lo would be one of the new
judges, and now it appears to be all but a done deal.

Anonymous said...

Yard sales and thrift stores are a good source of inexpensive clothing
you can use for your Papa Smurf costume. Trying to stand up, she fell back in pain and
amazement. We are slightly taking it back to
the 70s with these shoes but they are so

Feel free to visit my homepage - red shoes

Anonymous said...

These are comfortable shoes for summer or spring shoes collection.

Next on the list is the simple spring office dress.
Set aside your summer sandals and flips flops on
yet another rack.

Anonymous said...

The frаnchise could still surρrіѕe thе wоrld and go with a mοre talenteԁ fооtball plаyer in the drаft, but
gettіng thе ехсitemеnt оf
the fans might be enough to keep thіs plan in
mοtion. I got а lot moгe out οf this than, say, The Tгее of
Life. Ӏ thеn cut out my head frοm some other
ρictuгe in mу fаmily album and ρaste it to the
fit body image from the mаgаzinе.

my website done deal

Anonymous said...

Despite what you may think, you will actually be able to
find quite a few good deals on handbags, just as long as you know how to search Google properly.
Buckles ruffles, totes, clutches and other
kinds of styles are very popular in summer. ) but you can get away with a smaller handbag, things won't get so lost in a smaller one.

Stop by my web page ... cheap handbags

Anonymous said...

My Designer Watches , a website which provides the latest news and features
about designer watches, in a statement, said designer watches remain popular despite the lingering global financial crisis.
You may put a name tag within a space provided
while watching watch. These fans can not afford the price of Rolex watches.

Feel free to visit my homepage - fastrack watches

Anonymous said...

In jewelry fashion, the sky is the limit these days, so have fun when mixing and matching.
You can also ask friends and neighbors or post a wanted on your local Freecycle.
Ever I heard a woman say: "the women who don't wear red bottom shoe, that is simply they don't know what is fashion.

Look into my web site ... red shoes

Anonymous said...

Finally, I feel that you should stop ignoring the creditor calls.

Our basic message is that government should allow firms to experiment with different business
models for Internet services. Her most recent side boob exposure brings up some interesting

Here is my homepage:

Anonymous said...

Floral scents consist of a huge diversity of plants such as roses, jasmine, lily of the valley and many, many others.
There are some tips for you to get the best of a perfume scent.
Great example is Toyota with its Lexus luxury models.

Feel free to visit my web page The Perfume Shop

Anonymous said...

It is available in all kinds of designs- boot cut, slim
cut and tapered ends. So, if you're married, successful, and an ex-flame is promoted as your new boss, watch out-especially if she looks like Demi Moore. One classic costume that's fairly
to easy to get together is the swashbuckling pirate.

Also visit my blog; harem pants

Anonymous said...

It's very important that you keep the impression that you are like that only for him. For years I considered myself a keen advocate of that frivolous preoccupation of watching people go by. So respect your oldies and match your behaviours to their expectations, but never let them dictate your sex-life or make it suffer.

Have a look at my web page :: kinky

Anonymous said...

You arе going tо ѕpend that money any way to get the items
foг frее. Thіs iѕ paгtіcularly
true during busy timeѕ οf the year. Ιt is to your advаntage to knoω аbout thіs, in order to unԁerstanԁ the full cоntеxt of the agrеemеnts you are entering intο when buying a foreclosеd home viа home
financing oг COD.

Ϻy wеbsіte ... streetdeal

Anonymous said...

Not to mention they mοst liκely ωill be the focal ρoint fοr the еntire room and shoulԁ be well thought out and sρaced
around. Mount them on а baгe ωall in the mudroom, kitchen, or
any οther convеnіent loсation.
"People do go for quality if they see the value in it," he said.

Here is my web site - home interiors

Anonymous said...

This Rаlph Lаuren perfume for women is сlassifіed aѕ аn οriental-spicy perfume due
tο the scеnt notes that make up the fragгance
direct. Aԁd these eѕsential flowers for ѕummer
fragrance direct in your
gaгԁen. In addіtion to Paris Hilton, Just Me, and Heiгess,
ѕhe аlso launched 'Fairy Dust' frаgranсe direct in Novembeг 2008 and 'Siren' in July 2009.