USA scenario here: say I have a $2000 car repair bill and use my debit card.
Can’t be bothered to put in my pincode so I hit credit, payment goes through without pincode.
Why does the consumer have the option to pick here?
In: Other
Folks, I don’t think anyone here is answering the implicit question from /u/Shifu_1 which is: Why does it seem like we are being granted credit when we use a debit card as a credit card? The debit card function will immediately deduct, and will decline if the account can’t cover the amount. But the credit function takes days to settle. Are we effectively being extended a line of credit, or will it also decline if the account can’t cover? If it settles in days how do they know?
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