![]() The Federal Reserve’s Regulation E (commonly dubbed Reg E), covers debit card transfers. Since the debit card links directly to a checking account, “you have potential vulnerability” if you have problems with a purchase or the card number gets hijacked.įor the same reason, Linda Foley, who founded the Identity Theft Resource Center in 1999, suggests not using your debit card for phone orders. “You don’t use a debit card online,” says Susan Tiffany, retired director of consumer periodicals for the Credit Union National Association. Here are 10 places and situations in which it can pay to leave that debit card in your wallet: 10 places to NOT use debit cards 1. With debit cards and credit cards, each payment method has advantages and each is also better suited to certain situations. “There’s a difference in how the transactions are processed and the protections offered to consumers when they use them.” “It’s important that consumers understand the difference between a debit card and a credit card,” says John Breyault, vice president of public policy, telecommunications and fraud for the National Consumers League. While credit cards and debit cards may look almost identical, not all plastic is the same. Sometimes reaching for your wallet is like a multiple choice test: how do you really want to pay?
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