🚀 go-pugleaf

In article <86k602fyfs.fsf@arbol.wsrcc.com>,
 Alison Chaiken <alison+gnus200701@dailyplanet.dontspam.wsrcc.com> 
 wrote:

> David Arnstein asks:
> >Clearly, something about debit cards chap your hide. Care to
> >elaborate?
> 
> Ernie Klein writes:
> >you _may_ get some of your money back.
> 
> I couldn't possibly explain my concerns about debit cards any more
> clearly than that.  Debit cards are a reasonable choice only for
> people whose credit record is too poor to get a credit card.  People
> who qualify for credit cards would be just plain nuts to get a debit
> card.  They are banks' method of transferring risk from themselves to
> consumers.  That's why I will close my credit union account rather
> than accept one.

I will add another note to this as the OP also said "But I don't know 
the differences between debit cards and ATM cards..."

In many cases there is not difference,  the same card is both an ATM and 
debit card -- but they don't have to be and I would not have an ATM card 
that is also a debit card like Wells Fargo keeps trying to offer to me.

The difference: As stated before, the debit card can be used at any POS 
(Point Of Sale) terminal by anyone knowing your pin and the only limit 
to it's use is the balance in your account.

An ATM cards use is more limited. It can only be used at an ATM terminal 
to deposit or withdraw cash up to a $300/day limit (on mine at least).  
Since it's use is much more limited, it's exposure to being cloned 
and/or your pin surfed are also much less, particularly if you limit 
it's use to ATM's at your bank and not some fly-by-night terminal 
locations.

Put your debit card in a card reader at certain gas stations in southern 
California, as occurred to many debt card holders recently, and find 
your bank account gone within hours.  The chance of that happening when 
I use my ATM only card at a Wells Fargo Bank ATM, while not entirely 
without risk, is very small.  I only cite this as an example that made 
the news recently because it happened at several chain gas stations at 
the same time.  Isolated incidents that go on all the time usually don't 
make the news.

-- 
-Ernie-