Which is Safer
Debit card and Credit card are small plastic cards issued by Banks, by which bank allows you to purchase things online and offline.As the whole world is moving towards cashless digitalization system from buying new things to paying the restaurant bill everyone is using these cards for their transactions.Debit card withdraws money from your bank account while you purchasing something or paying the bill on the other hand Credit cards withdraws money from your credit cards limit that is given by the bank to the cardholder. You often heard about these cases “xxxxxxx” this much amount has been stolen from this account. Thousands of cases are coming into a picture of money fraud everyday Question is which one should you use for shopping Credit or Debit card for safety.
1.Loss of amount money
Nowadays online e-commerce websites provide great discounts on different products and possible you do online shopping.When you are purchasing something online which payment method would you like to choose Cash on Delivery(Best method) or Online payment through cards?If you are using Debit card for online shopping transactions it may land you in the problem.We know Debit card withdraws money straight from your checking account, in case your Debit card information gets stolen by someone and misuse it, your all the money present in the bank account could go vanish from your account on the other hand if you use credit cards for shopping and in worst case your credit card information gets stolen and misuse it, the amount will be deducted only from your credit card limit amount which has certain limit given by the bank.Money can be withdrawn only between this certain limit not more than this.
2.Chances money of Refund
Which card has better chances of money refund if your card is misused by someone? Again Credit card is much comforting than Debit card.In case of Debit card, the money is withdrawn from your checking account bank might help you in these type of cases and all the money present in the account could go away from you.When it comes to Credit cards there are so many safety policies that bank is providing to the cardholders.After reporting the fraudulent transaction to the bank if the bank has found your credit card is misused by someone the bank will give you a refund because money is not taken from your checking account it is issued by the card issuer.
However, you can report the fraudulent transaction of Debit cards to the bank under 60 days there is a liability but since this is related straight to your checking account then why need to put all the money in trouble? Thus in last credit cards provides you more protection in online shopping.