Stop Using Your Debit Card Now
Stop using your Debit Card now. Using it could cause you a host of problems. About the only thing it helps out with is credit card interest. But that's not enough, you shouldn't use a debit card.
First, if someone steals your debit card, chances are they have your other info as well. That means they can places charges on your card and also have access to your actual money.
Secondly, debit cards are lackluster in the fraud protection department. If someone steals your credit card and uses it, you can dispute the charges. The most you will ever have to pay to cover charges of a stolen credit card is $50. That is not always the case with debit cards.
And finally, most people who use a debit card lose track of the money they have in the bank.
In addition, a debit card does not allow you to build credit like a credit card. Even though credit card companies will charge you interest fees, they are a much better financial choice.
[Via: The Week]