Debit card questions...this whole Target thing has me freaked out!

[SUSIEQ]

Another time I was at work and my bank called me and asked if I was in Connecticut purchasing a computer and other electronics-I said no I was at work in NY. Someone was using my debit card to buy all sorts of stuff. the money was back in my account within 48 hours.

If fraudulent charges are being made to my card, I don't want the $ to come out of my bank account for 1 second, much less 48 hours. That's why I use a credit card at stores, not a debit card. If fraudulent charges are made, it's with the bank's $, not mine

 

[Marionnette]

For some people, they can't afford 48 hours for stolen money to come out of their account. This is why a debit card is not a good idea for 99.9% of cases.

99.9% of all cases? I think that's an exaggeration.

But I do agree with those who say that it's safer to use a CC than a debit card because of this exact situation. Even if you won't miss the money for a day or two, it can still be very stressful just worrying about it. Years ago, a co-worker had her debit card stolen by one of her kids' friends. The kid used it to purchase a number of things, including gas at the same station she used. The bank returned all the stolen money except the amount spent at the gas station. They said that she couldn't prove that it was not her charge. Ever since then, I have gone with using a CC instead of debit cards. I've had my CCs compromised several times over the years but have never had to pay for fraudulent charges.

 

[mistysue]

I had troible with a bank and fraudulent debit charges once. On a credit card they put the charge on hold so you dont accumulate interest while they investigate and it doesn't effect you unless theh decide its yours. With a debit card, the money is gone and you have to wait for them to return it. I had to wait nearly a month and it was during a financially tight time- so I could not pay my bills after somebody charged approximately a months income. Then you are stuck with any fees you incure as a result. So while "no harm was done" because I got it back, it cost me about a hundred dollars in fees I couldn't afford, caused a card I had been paying off every month to start accruing interest and dinged my credit report.
Unless it is completely ok for you bank account to just become empty on any random day (it can and does happen), I dont suggest anybody use a debit card for anything.

 

[BWV Dreamin]

I tried to return an item yesterday at Target. The item was charged over the period of the hack, so I had that CC number changed. Target would not refund the item ($30) in cash. Only a gift card or back to the CC which was changed. They said it would still be credited if the account was not CLOSED. No way was I giving them any more money so I had them credit the purchase back. Called the CC company, and yes, even if that card number is changed, if the account is still open you can get a credit back.

Will not be back to Target anytime soon......

 

[JCMHutch]

I tried to return an item yesterday at Target. The item was charged over the period of the hack, so I had that CC number changed. Target would not refund the item ($30) in cash. Only a gift card or back to the CC which was changed. They said it would still be credited if the account was not CLOSED.

Routing a refund to an account that has had the number changed is done, at least for the Disney Visa. We had a refund issued on a purchase and our card number had been changed because we lost the card. Chase routed the refund to the current account number with no problem. We were told it could take a week to 10 days for the refund to show up but it only took 2 days.

 

[Fyrefly]

I'd start using your credit cards. I guess I understand the fear of spending too much keeps people away from credit cards but they're so much safer in case of fraud, I don't want some crazy amount coming out of my account while the bank sorts it out!

When I got my first credit card my parents had me keep a checkbook for it and write down everything and balance it just like if I were using checks or a debit card.

Credit cards aren't some horrifying scary thing that are going to eat all your money because you'll magically start paying more than you can afford. Just use the same spending habits you already have from using a debit card and pay it off each month and you'll be fine.

 

[Swimalie]

99.9% of all cases? I think that's an exaggeration.

.

The reason I put it so high is because the only reason I can think of why anyone would want a debit card, and to take on its risk, is if they are traveling over seas and have that card only linked to an account with just enough to get through the trip. Other than that, I can't think of a reason to have one.