Lost Visa Debit Card

[Sigarms]

The folks over at NFCU are good to deal with on this kind of situation..

The same can be said for Pentagon Federal Credit Union.

Glad everything worked out. Won't lie, have misplaced a card myself in the past, cancelled it, only to find it

 

[MarkV]

I don't use a debit card only credit cards. I thought when debit cards came out that after reporting a loss you were still responsible for any charges put on it, where with my credit card it was limited to a $50 responsibility. Is that true or is it like a credit card where your responsibility is limited if the card is stolen?

Guess I have never seen the advantage to a debit card. By paying my credit card in full each month I don't pay any fees and get to keep my money for 30 days until billing. Am I missing something?

MarkV

 

[Artimus]

I don't use a debit card only credit cards. I thought when debit cards came out that after reporting a loss you were still responsible for any charges put on it, where with my credit card it was limited to a $50 responsibility. Is that true or is it like a credit card where your responsibility is limited if the card is stolen?

Guess I have never seen the advantage to a debit card. By paying my credit card in full each month I don't pay any fees and get to keep my money for 30 days until billing. Am I missing something?

MarkV

Some of the above was originally thought to be true but is not. That however does not mean that debit cards are the same. They have the protections if they have the Visa logo. However, you should use the card as credit to sign for items for the best protection and keep your PIN safe.

Here is some good info on debit cards, which once again are protected but since the money comes directly from your account can cause significant delays or problems in getting it back:

The Dangers of Using a Debit Card - CBS MoneyWatch.com

The key as always is to keep the card safe and separate from your PIN, monitor your account and report loss or theft of cards immediately. I write on the signature field on the back of my card in bold letters, REQUEST ID Though only about 20% of retailers look at the back or actually read it, it is but another way to help protect yourself or show that at least you are trying and puts more of the monkey on the back of the retailer of the card is used without your permission.:thumbsup:

 

[Bird]

I don't use a debit card only credit cards. I thought when debit cards came out that after reporting a loss you were still responsible for any charges put on it, where with my credit card it was limited to a $50 responsibility. Is that true or is it like a credit card where your responsibility is limited if the card is stolen?

Guess I have never seen the advantage to a debit card. By paying my credit card in full each month I don't pay any fees and get to keep my money for 30 days until billing. Am I missing something?

MarkV

Yep, I have a Visa debit card that has never been used for anything other than getting cash from an ATM, and even that has been very, very seldom in the last several years. We just use credit cards and pay them in full each month.