Prepaid debit card vs bank account credit card with Visa/MC logo & debit cards online? is this Guaranteed ?
Prepaid debit card vs bank account credit card with Visa/MC logo & debit cards online? is this Guaranteed ?
I'm reading about the take off in growth/usage/popularity of "prepaid"
debit cards and I am a bit confused as I've never used a debit card
before. (well in the debit card way vs just an ATM cash withdrawl)
Is this primarily for people without bank accounts? These "prepaid"
debit cards (oxymoron) don't see very frugal.
My checking acct ATM card has a VISA logo on it and I am assuming I
could use it as a debit card but without any of the rigamarole?
Also am I correct in understanding you can use a debit card to make
online purchases (but with a different set of fraud/theft protection
rules?)
-Debit cards by nature are 'prepaid'.
-I assume the OP meant the ones that are basically like a gift card, but
Visa or MC branded rather than specific to a store. It would be an
alternative to giving cash. (I'm not sure, maybe they can be used online
too?)
-With a debit card you go to the store and enter a PIN number, which increases
security. With a credit card you just swipe the card and you're done. So it's
easy for someone to steal your card and use it to buy gas at the pay at the
pump machines. However, with credit cards you have legal remedies if your
card is stolen, i.e. you are not responsible for the charges. With a debit
card you have no recourse that I know of.
I prefer the credit card.
-there are many uses
1) People without bank accounts use them
2) Parent can give them--with a predetermined and finite amount of money on
them--to children at college
3) People who are afraid of using an account that has their personal
information linked to it when buying things online. These cards don't
require that you give them a SSN so there is no real link between you and
the purchases you'd make with that card--unless you have goods shipped to
you with it.