Credit Card VS. Debit Card and The Recent Data Breach

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Credit Card VS. Debit Card and the Recent Data Breach

Home Depot’s data breach is worse than Target’s, so where’s the outrage?

Jimmy John’s the latest victim of data breach

There’s a big difference between having your credit card stolen or your debit card stolen, If criminals steal your credit card (you have to check the Terms your own individual agreement) but usually you’re only responsible up to fifty dollars provided you report the breach right away.

Conversely with a debit card once a criminal has you debit card and security and if they have your pin number they can actually clean out your entire bank account!  That puts you into a completely different situation.  With your bank account cleaned out, now you’re trying to get your money back.

The bank will tell you “well it is withdrawn”  that is the reason why I would not want to use a debit card.  Criminals  could clean out all your bank accounts and now you are trying to get your money back.

If they seal your credit card they are stealing the “credit cards” money you have not paid the credit card bill and your report the theft to the credit card company. Then you are only liable for a certain amount.  That is why say stay away from a debit card, only use a credit card.

Don’t even get an ATM card with a visa logo on it and every time I use my ATM card I’m sure cover up my hand when entering the pin because in the past criminals put video cameras above the keypad and then they have a card reader on the ATM swipe area.  Then they make a duplicate card and they have your pin.

Criminals then gain access to all your accounts  That’s what you want to be careful of you don’t want to give people access to your bank account because you used a debit card. If you are going to risk someones money it is better to risk the Credit Cards Companies money than yours.

A debt card doesn’t count toward your credit score at all  like good use of a credit card will.

This is Dave Sullivan for the CreditGuy.TV so you with a a little bit of me we are going to change the credit industry!  thank you

Credit Card VS. Debit Card and the Recent Data Breach

If you’re looking for other ways to improve your credit score please go to GetLoanReady.com you can get free videos and worksheets to increase your credit score from a more holistic perspective. Never Pay Collections

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If you want to see more videos about credit and credit scoring check these out at www.thecreditguy.tv. If  you are a mortgage lender please share this on your Facebook or LinkedIn page.   If you have any questions, leave them down below I’d be happy to answer them.

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Go to www.getloanready.com to find other ways to improve your credit score. I’m Dave Sullivan here for the credit guy TV so you with a little bit me we’re going to change the credit industry thank you

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