🚀 go-pugleaf

In article <enidik$8hq$1@reader2.panix.com>,
 arnstein@panix.com (David Arnstein) wrote:

> In article <86slere6sa.fsf@bonnet.wsrcc.com>,
> Alison Chaiken  <alison+gnus200701@dailyplanet.dontspam.wsrcc.com> wrote:
> >Actually what I have now is a credit union account.  I've been happy
> >with it for 19 years.  Unfortunately, my ATM card has stopped working
> >and, for reasons known only to themselves, credit union staff insist
> >on sending me a debit card as a replacement.  I told them I would
> >close my account if I can't get a new ATM card, but they are unmoved.
> >The whole affair is sad, as up to now, the credit union's customer
> >service has been great.
> 
> Clearly, something about debit cards chap your hide. Care to elaborate?
> I already know that debit cards carry less legal protection to the
> customer than credit cards. But I don't know the differences between
> debit cards and ATM cards, in that regard.

Not withstanding the lower protection that you already know about, the 
worst feature (in my opinion) of a debit card is that the money is 
removed from your bank account at the time of the transaction - you no 
longer have it.

With a credit card a charge is made against the card which you have to 
pay at a later time but you still have your money.

You can dispute fraud and other charges on either one, but it is better 
(again, in my opinion - others may disagree) to dispute charges that 
have not yet been paid than try to get money back that has already been 
taken. 

Theft for example:  Someone gets ahold of your credit card number (not 
hard) vs. debit card (and has surfed or otherwise learned your pin).  

Credit card:  Thousands of $'s charged.  File a police report. Dispute 
the charges.  May take months, but probably you will never pay anything. 
Your money stays in your bank account.

Debit card:  Bank account cleared out.  Checks bounce.  Can't pay rent, 
etc.   File a police report. Dispute the charges.  May take months, but 
you _may_ get some of your money back.

-- 
-Ernie-