• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Credit Card vs Debit Card

I

Indyboy2

Senior member
What is the difference between the two in terms of protection.I used my visa debit card to buy some software off the net and i recieved it today.It is clearly a pirated copy of vista ultimate .It was in a oem package sealed but upon opening the dvd was all scratched and it had a white sticker on it and you could peel the hologram right off actually it fell off.Now i know i usually buy all my software off the egg but i got this copy for 135.00 full copy of vista ultimate and i thought i was getting a deal guess not.Well i emailed the place i bought it from with no response yet so i am looking for what i could do to get my money back or a refund would be fine .I did pay through google checkout if that helps
 
Same protection but if the bank decides to decide a case against you, your cash is gone. If a CC company decides against you, you can just not pay them. But I think these cases are rare.
 
Lots of credit cards extend warranties, and I'm pretty sure if someone takes cash out of the ATM with your debit card you are screwed. Debit cards typically have bad reward systems too. Credit also gives you the option of waiting up to a month and a half before actually paying off the item, though that could be good or bad.
 
Seeing as how I don't need to build credit (already have good credit through student loan payments and parents), a credit card is pointless for me. I understand the whole "just don't spend beyond your means" argument for a CC, but I think I would have a problem with that so using a debit card is better for me right now.
 
I'd try contacting the vendor again. And this time politely state that you know they're selling pirated copies of Vista & you'd rather just be refunded than notify Microsoft & your bank. They don't know whether you used a credit or debit card...
 
DC is like using your cash w/o going to the ATM. CC is like a tab you pay it off at the end of the month. There's absolutely no benefit on using a DC over CC unless you're one of those people who can't control their spending and max out your CC every month. With DC, at least you know you used up all your money.
 
Originally posted by: Baked
DC is like using your cash w/o going to the ATM. CC is like a tab you pay it off at the end of the month. There's absolutely no benefit on using a DC over CC unless you're one of those people who can't control their spending and max out your CC every month. With DC, at least you know you used up all your money.
Click to expand...

Well there's the cutting out of the middle man (CC company), and the fact that I don't have to hit up the bank for more cash.
 
CC's generally have better benefits and sign up bonuses. I got 2 free round trip domestic plane tickets just for signing up for 2 credit cards.
 
Credit card protections are mandated by federal laws, debit card protections are up to the debit card issuer to voluntarilly give to it's customers.

So, if you are talking credit card vs. debit card, then credit card wins by a very wide margin in just about any form of measurement.

That said, at the moment, many debit card banks give fairly decent protections. These protections can vanish at the whims of the bank, but you probably have some decent protections with your card.

JS80 pointed out the most probable problem you will face. With a credit card, by law, you basically aren't charged a penny until the dispute is settled (and then you are only charged if you lose). With the debit card, you are out the money until you win a dispute. You are also out any fees or similar complications even if you do win. For example (I know it didn't happen in this case) if you were overcharged and it caused you to bounce a check, you are out the bounced check fee even if you win the debit dispute.

You may have as few as 2 days to make your debit card dispute (vs 2 months for credit cards). So, do it now. Contact both the merchant and the debit card bank.
 
Originally posted by: irishScott


Well there's the cutting out of the middle man (CC company), and the fact that I don't have to hit up the bank for more cash.
Click to expand...

What does the middle man have anything to do with you, the consumer? And CC = cash where ever it's accepted. 😕 People who use DC don't make any sense.
 
Originally posted by: Baked
DC is like using your cash w/o going to the ATM. CC is like a tab you pay it off at the end of the month. There's absolutely no benefit on using a DC over CC unless you're one of those people who can't control their spending and max out your CC every month. With DC, at least you know you used up all your money.
Click to expand...

Bakes, one of your better posts
 
Originally posted by: JS80
Same protection but if the bank decides to decide a case against you, your cash is gone. If a CC company decides against you, you can just not pay them. But I think these cases are rare.
Click to expand...

False.

The credit card company will still come after you and eventually sue you for that money if they have to.

Also, was this transaction a debit or credit transaction. A debit card used with the pin is different than using it like a credit card (called a check card) and the protections are different.
 
Originally posted by: Beattie
Originally posted by: JS80
Same protection but if the bank decides to decide a case against you, your cash is gone. If a CC company decides against you, you can just not pay them. But I think these cases are rare.
Click to expand...

False.

The credit card company will still come after you and eventually sue you for that money if they have to.

Also, was this transaction a debit or credit transaction. A debit card used with the pin is different than using it like a credit card (called a check card) and the protections are different.
Click to expand...

Not false, I just said you can stiff them vs Bank taking your CASH balance away. In the end, with a lost CC dispute, you have crap on your credit history, but you still have your cash.

I have a coworker who LOST a clear fraud case with Bank of America through a Visa transaction and they just took her money.
 
Originally posted by: Baked
Originally posted by: irishScott


Well there's the cutting out of the middle man (CC company), and the fact that I don't have to hit up the bank for more cash.
Click to expand...

What does the middle man have anything to do with you, the consumer? And CC = cash where ever it's accepted. 😕 People who use DC don't make any sense.
Click to expand...

I don't have to pay anyone at the end of the month, I don't have to do any paperwork, and DC is better than no card.

While I would like a credit card, I'm still in college and saving the vast majority of my money. It's not enough of a priority for me to put the time into researching/acquiring one right now.

 
Originally posted by: irishScott
Originally posted by: Baked
Originally posted by: irishScott


Well there's the cutting out of the middle man (CC company), and the fact that I don't have to hit up the bank for more cash.
Click to expand...

What does the middle man have anything to do with you, the consumer? And CC = cash where ever it's accepted. 😕 People who use DC don't make any sense.
Click to expand...

I don't have to pay anyone at the end of the month, I don't have to do any paperwork, and DC is better than no card.

While I would like a credit card, I'm still in college and saving the vast majority of my money. It's not enough of a priority for me to put the time into researching/acquiring one right now.
Click to expand...

You should get a credit card while you're still in college. They give away credit cards like candy while you're in school. It will be harder to establish credit and get your first card after school.
 
Originally posted by: Naustica
Originally posted by: irishScott
Originally posted by: Baked
Originally posted by: irishScott


Well there's the cutting out of the middle man (CC company), and the fact that I don't have to hit up the bank for more cash.
Click to expand...

What does the middle man have anything to do with you, the consumer? And CC = cash where ever it's accepted. 😕 People who use DC don't make any sense.
Click to expand...

I don't have to pay anyone at the end of the month, I don't have to do any paperwork, and DC is better than no card.

While I would like a credit card, I'm still in college and saving the vast majority of my money. It's not enough of a priority for me to put the time into researching/acquiring one right now.
Click to expand...

You should get a credit card while you're still in college. They give away credit cards like candy while you're in school. It will be harder to establish credit and get your first card after school.
Click to expand...

I'm 28, finished school years ago, never had a credit card, still receive offers like crazy, and my credit score is considered very good by loan organizations...you don't need a credit card if you don't want one.
 
Originally posted by: ch33zw1z
Originally posted by: Naustica
Originally posted by: irishScott
Originally posted by: Baked
Originally posted by: irishScott


Well there's the cutting out of the middle man (CC company), and the fact that I don't have to hit up the bank for more cash.
Click to expand...

What does the middle man have anything to do with you, the consumer? And CC = cash where ever it's accepted. 😕 People who use DC don't make any sense.
Click to expand...

I don't have to pay anyone at the end of the month, I don't have to do any paperwork, and DC is better than no card.

While I would like a credit card, I'm still in college and saving the vast majority of my money. It's not enough of a priority for me to put the time into researching/acquiring one right now.
Click to expand...

You should get a credit card while you're still in college. They give away credit cards like candy while you're in school. It will be harder to establish credit and get your first card after school.
Click to expand...

I'm 28, finished school years ago, never had a credit card, still receive offers like crazy, and my credit score is considered very good by loan organizations...you don't need a credit card if you don't want one.
Click to expand...

CC will help improve your credit score but most importantly provides you access to purchasing power that one might need in an emergency.

Also, the cash rewards, extended warranty, extra benefits and float that a cc provides outweigh any reason why one would use a debit card.
 
What's worse:
$2k on your CC until it gets resolved.
$2k missing from your bank account until it gets resolved.

In #1's case, not much happens.
In #2's case, checks bounce, overdraft fees mount, and you generally can't get things like groceries and gas.

...I do debit cards when the card stays in my hand. Credit cards when it doesn't.
 
For some reason i thought that debit cards were as safe as credit cards i guess i was wrong i will be using my credit card from now on or pay through paypal if need be
 
Originally posted by: Capt Caveman
Originally posted by: ch33zw1z
Originally posted by: Naustica
Originally posted by: irishScott
Originally posted by: Baked
Originally posted by: irishScott


Well there's the cutting out of the middle man (CC company), and the fact that I don't have to hit up the bank for more cash.
Click to expand...

What does the middle man have anything to do with you, the consumer? And CC = cash where ever it's accepted. 😕 People who use DC don't make any sense.
Click to expand...

I don't have to pay anyone at the end of the month, I don't have to do any paperwork, and DC is better than no card.

While I would like a credit card, I'm still in college and saving the vast majority of my money. It's not enough of a priority for me to put the time into researching/acquiring one right now.
Click to expand...

You should get a credit card while you're still in college. They give away credit cards like candy while you're in school. It will be harder to establish credit and get your first card after school.
Click to expand...

I'm 28, finished school years ago, never had a credit card, still receive offers like crazy, and my credit score is considered very good by loan organizations...you don't need a credit card if you don't want one.
Click to expand...

CC will help improve your credit score but most importantly provides you access to purchasing power that one might need in an emergency.

Also, the cash rewards, extended warranty, extra benefits and float that a cc provides outweigh any reason why one would use a debit card.
Click to expand...

That's what parents are for.
I really wouldn't recommend it for a college student though.
The way I see it, you either rack up a lot of debt on it, or you end up barely using it especially if you're a typical college student who is usually broke 99% in all cases.

I agree entirely with the last paragraph.
I use my PenFed or AB cash rebate card 99.9% of the time for all purchases and bill payment.
 
Originally posted by: irishScott
Originally posted by: Baked
Originally posted by: irishScott


Well there's the cutting out of the middle man (CC company), and the fact that I don't have to hit up the bank for more cash.
Click to expand...

What does the middle man have anything to do with you, the consumer? And CC = cash where ever it's accepted. 😕 People who use DC don't make any sense.
Click to expand...

I don't have to pay anyone at the end of the month, I don't have to do any paperwork, and DC is better than no card.

While I would like a credit card, I'm still in college and saving the vast majority of my money. It's not enough of a priority for me to put the time into researching/acquiring one right now.
Click to expand...

Obviously you've never heard of auto-debit.
My CC automatically drafts money 15 days after statement closing date from my bank account.
No hassle, no login, no internet, or constant monitoring required.
 
The beauty of a CC is if it gets stolen or what not (or given out at a site you think you trust, but they use it maliciously) it's limited to your limit, and it's not accessing your entire bank account. I fill more comfortable giving my CC number online then my DC number. At least if my CC does somehow get compromized it's no more then 1k and it's not my money, and the company will help me solve the issue and get the money back, then I can cancel it and get a new card, while my bank account stays safe.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top