Ahhh, the holidays. Christmas commercials and decorations have been up for weeks in some cases. Black Friday has now creeped into Thanksgiving day. Reminders to buy that perfect gift are everywhere. So, you start your shopping and you are using your Debit Card online and in the stores, but should you? With the constant threats of identity theft out there, we want you to be armed with all the info. So, here are some points as to why you should maybe use your credit card instead of your debit:
- Accessibility - if the debit card is used fraudulently, you lose immediate access to your cash flow, which is terribly inconvenient. Whereas, with a credit card, you are only losing temporary access to that credit line.
- Easy target - online fraud is skyrocketing and will continue as we become a more wireless society. Once someone has all your basic details (name, address, zip, all your card data), they can shop with this information via any online merchant. They merely place the victim's info in the "bill to" field and the criminal then sends the stolen goods to the "ship to" address. If this is your debit card, you are immediately losing cash from your checking account.
As both our debit and credit cards are VISA, there are ways to protect yourself. You should enroll all your VISA cards in the "Verified by VISA" service. It is free and even if you do not shop online, you are protected enormously. If you'd like to see the benefits of this service, please click here. When you are ready to sign up, please click here. If you'd like to learn more about our debit cards or how to report fraud, make sure to visit our website.