why debit cards do not enjoy the same protections against theft and fraud as credit cards?

Question

Those protections are the main reason it’s recommend to use credit cards instead.

But it doesn’t make sense to me, why would I borrow money (credit) if I had it (debit)?

My guess is that banks deliberately do this so people can accidentally spend more money than they have and companies start charging interest.

In: Economics

Answer 1

I don’t even carry a debit card. I turned mine into the bank and I have a card that only works at ATMs. I use credit cards for most purchases and pay them off every month. Yes, you have “protection” with a debit card but you can bounce checks/ACH debits before you discover the fraud. Most people don’t discover it until they are bouncing checks.