No man's credit is ever as good as his money. ~Edgar Watson Howe
The last time that you have used your credit card, what option did you select? Credit or Debit? For the longest time, I was swiping my debit card as a debit card although I had this large Visa symbol listed on the bottom right hand corner of the card. Well, to most, this does not seem like a big deal because the money comes out of the account just the same. However, each time we swipe our debit cards as debit, we miss out on the benefits and protection offered by the little symbol in the bottom right side of the card.
Although this may not seem like a big deal, it actually is. See below for the benefits of using your Visa debit card as a credit card:
Gain peace of mind with Visa's extra security protections.
When you sign for your purchases, your money comes directly from your checking account, but you also get security protections that help prevent, detect and resolve fraud, including:
- Visa's Zero Liability Policy*, which protects you from unauthorized charges. Any funds taken from your account due to fraudulent use will be returned to you.
- Continuous fraud monitoring to detect and prevent suspicious activity on your debit card
- Access to Identity Theft Assistance to help you recover your identity and prevent further problems
- A 3-digit security code to verify your identity for Internet and phone purchases
All of this information was quoted from Visa's site. I recommend that if you have a card other than Visa, to go to the banks site and see if they offer similar benefits.
From now on, I hope you take a second thought about whether or not you will use "Credit" when you are swiping your bank debit card. Stay Disciplined!
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1 comment:
Another benefit of using your card a credit instead of debit is the rewards points. Your bank should have an affiliation with Visa to provide rewards points for things such as dining, gift cards of all sorts and other merchandise. My bank offers 1 point for every 4 dollars. Rewards start as low as 1000 points, and it does not take as long as you think to build points. Gas, groceries, dining out, etc it all adds up and soon you have enough for a free dinner or in my wife's case free magazine subscription.
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