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Why you should NEVER use a debit card.

Updated: May 8, 2022

This is why I never use a debit card.

It has been a long hiatus since my last post. Busy clinic, kids with their activities and the day to day melee keeps me away from trying to help fight the good fight.

Recently while on the road in a gas station somewhere in Florida, I noticed the 3 customers in front of me paying with a debit card. Now most would say; what's wrong with that? Well, there's nothing wrong with it, that's until your card or number gets stolen. Yes, you will report your card stolen to your bank immediately and very likely you will get your money back (1-2 months later), not before going through a major headache of investigations, freezing of the account and the list goes on.

The fact is if your debit card is linked to where your money is, it could be drained or hit significantly in real time before you even have the chance to notice it.

Debit card have much less protection in place when compared to credit cards, ask yourself why. Hint, it's not the banks money.

Have you noticed that should your debit card be stolen, it is very unlikely you will get a phone call from the bank. Yes, that is because it is YOUR money they are stealing, not the bank.

Once the debit card is reported stolen the account will be frozen, nothing in or out for some time until the investigation is completed.

The time you report the fraud does matter, the more you delay it the more it will cost you. Some companies have 0$ liability others 50$.

That's why I leave my debit cards at home locked up and only use a credit card for all my purchases. Credit cards are monitored 24/7 like a hawk by the bank. Because it is THEIR money. God forbid you buy something out of your usual profile, you will get a call from Bob in Idaho checking in to see why are you buying a pair of flip flops when you are in NY and is January (ok, a little too much but you get the point). Investigation into credit cards will not freeze the card and just send you a few papers to sign over mail with a new card and that's the end of the story.

It is important to state that when handling credit cards you have to be very careful not to get too happy buying things you can't afford, very easily you can get yourself in serious high interest debt.

Please NEVER use a debit card for purchases online, they are very easily stolen.

A big No-No for me is to carry around or use the debit card to where I keep most of the cash.

Picture above taken from one of our trips to the everglades, seems appropriate for the post. Keep your head on a swivel and your ears/eyes open at all times, alligators are always lurking.

Till next time,



Disclaimer - This blog is meant purely for educational discussion of finances. It contains only general information about financial matters. It is not financial advice, should not be treated as such. The contents of this blog are not medical advice, for medical advice please talk to your medical provider.

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