Money Tips: Debit Card vs. ATM Card

Posted On: April 16, 2007

Guest: georgee
Credit Expert (100+ Posts)
Post subject: Debit Card vs. ATM Card
Posted: Mon Apr 16, 2007 8:35 am

Hi, LustfortheMoment:

I do have a checking account, and I also have a “plain old ATM card” (i.e., no MC or Visa logo).

I do not carry the ATM card, because I use so little cash. I am scared of debit (i.e., with MC or Visa logo) cards because my checking account balance can be drained, even without a PIN, if someone gets a hand on it. Even though you get your money back, there is a ‘dispute’ time when you are out of the money, and your checks written already can bounce, etc.

Obviously, even if I had a debit card, I would only use it to get cash or deposit checks. In an extremely rare circumstance, if I went into a store which only takes cash or PIN-based debit cards, I suppose I could use it to buy something by entering my PIN. Those would be the only uses for it, but I can do all that with my ATM card, too. It has a $500 daily withdrawal limit, and I really don’t travel overseas.

Do you think I should start to carry my ATM card, or should I get a debit card?

What will a debit card do for me, in my situation, that my ATM card won’t?

Guest: LustfortheMoment
Credit Expert (100+ Posts)
Posted: Mon Apr 16, 2007 11:59 am

Quote:
I am scared of debit (i.e., with MC or Visa logo) cards because my checking account balance can be drained, even without a PIN, if someone gets a hand on it.

I see. If you’re that frightened of losing your debit card, then I guess that it makes sense not to carry one. I don’t need that peace of mind. If my purse was stolen, I’d contact the BofA about my debit card and then AMEX and MC about my credit cards.

The only illicit use of any of my cards over the years occurred without any “theft” from my wallet .

Guest: Chazmanian
Credit Expert (100+ Posts)
Posted: Mon Apr 16, 2007 1:27 pm

LustfortheMoment wrote:
Quote:
I am scared of debit (i.e., with MC or Visa logo) cards because my checking account balance can be drained, even without a PIN, if someone gets a hand on it.

I see. If you’re that frightened of losing your debit card, then I guess that it makes sense not to carry one. I don’t need that peace of mind. If my purse was stolen, I’d contact the BofA about my debit card and then AMEX and MC about my credit cards.

The only illicit use of any of my cards over the years occurred without any “theft” from my wallet .

I cant resist Lust….Was it the dreaded “Thief of hearts”?

Guest: LustfortheMoment
Credit Expert (100+ Posts)
Posted: Mon Apr 16, 2007 3:58 pm

Quote:
I cant resist Lust….Was it the dreaded “Thief of hearts”?

LOL, Chaz . No, on two different occasions I’ve had my cards used by folks hundreds/thousands of miles away who somehow got hold of my account numbers. Both times, the Citibank computers picked up the “suspicious” activity. I was called immediately, and the accounts were closed/reissued.

Georgee, the biggest risk to all of us doesn’t rest with actual “theft” of our cards, either cc or debit. It comes from identity theft via databases. For just a few bucks, anyone can get your Social Security number on line; then they’re off to the races. Perhaps your local waiter/waitress is selling your credit card numbers to nefarious folks.

Labels: Debit Card or ATM Card?