Credit card vs. debit card use
News from Roanoke Rapids Daily Herald:

I recently vacationed with my college roommate. We met at the beach for some rest and relaxation. Unfortunately, a snafu with her debit card caused a bit more anxiety than the intended purpose of the trip. So, I call my family’s expert to inquire what my roomie should do. I was nearly yanked through the phone upon the lecture of credit vs. debit card, and it wasn’t even my card issue. Sheesh.

The information I received can only help others protect themselves from becoming victims of credit card fraud.

A debit card is set up to remove money from a checking and/or savings account.

The problem lies in that, lets say someone’s paid their water bill, mortgage, cable/dish, phone bill, etc. Then this person puts gas in his car, and unbeknownst to him, a skimmer is used to read the card numbers — this is a bad guy tool. If a card is compromised, then written checks or automatic payments are going to bounce and cause a ridiculous amount of headaches.

My family expert also said that while banks have become better at reimbursing victims of debit card fraud, it still takes longer for it to happen. Part of the process for some banks even includes a police report, logistically taking longer to remedy the situation.

The credit card company would have more of an immediate resolution……………. continues on Roanoke Rapids Daily Herald

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Related News:

Credit Cards Still Survival Strategy For Americans
News from

NEW YORK ( — Credit card debt and delinquency rates may be declining, but research finds that a significant number of households continue to use credit cards to pay for basic living expenses.

Forty percent of households that have carried credit card debt for at least three months have used their cards to pay standard expenses such as rent or mortgage, insurance, utilities, and grocery bills because they did not have enough money in their checking or savings account, according to Demos’ 2012 National Survey on Credit Card Debt of Low-and Middle-Income Households. Unemployment and medical bills, rather than splurges and excessive spending, were the leading contributors to credit card debt. The study showed that 86% of households that incurred expenses due to unemployment in the past year took on credit card debt as a result. Almost half of the households in the study carried debt from medical expenses on their credit cards. In fact, the average amount of medical debt on their credit card was $ 1,678. The survey, conducted in February and March, studied a nationwide sample of 997 low- and middle-income American households that have carried credit card debt for at least three months. Demos has conducted similar surveys in both 2005 and 2008. The average credit card debt from these respondents was $ 7,…………… continues on

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