That’s kind of irrelevant when you have modern tech like mobile payments to safeguard you. But yeah, if you’re still using magnetic stripes, you’re kinda fucked.
Comment on The ultimate life hack the government doesn't want you to know
mojo@lemm.ee 8 months agoCredit cards have much better fraud protection then debit
Aux@lemmy.world 8 months ago
mojo@lemm.ee 8 months ago
That’s not how fraud protection works lol
Aux@lemmy.world 8 months ago
Yeah, tell me more about it, lol.
Annually2747@lemmy.world 8 months ago
The fraud prevention page for my mastercard debit card is the same page as the credit card page.
However, what I really recommend is you can get travel cards that you load with minimal money and are entirely disposable. You don’t need to only use them overseas. I have used them for online payments and in person payments and they’re disposable. That is I can get two more unique cards with unique numbers at any time. Minimising my personal risk since they can’t be used as ID and I limit the money on the card to just what’s needed. If it’s stolen skimmed or tried to be used fraudulently I might at most lose 50 dollars but I also probably know who within a margin of error skimmed it since I rotate them with new cards every so often.
I’m also in a place where losing 50 Australian dollars won’t financially bankrupt me if it was stolen. Because I’m pretty sure there is lots less fraud protection on those travel cards.
Anyway there’s alternatives for those who can’t or morally object to credit cards. Like me. Mine is I’m bad with money, I morally don’t trust myself since I went into 10k debt at 18.
mojo@lemm.ee 8 months ago
If there’s fraud on a credit card, the bank fights to get their money back. If it’s fraud on a debit card, you fight for your money.
Annually2747@lemmy.world 8 months ago
What I was just advocating for, is taking ownership and control of the risk. If it’s your own entire bank account perhaps with a few thousand dollars, that risk is thousands of dollars. By segmenting that you can reduce it to dozens of dollars in which case, no matter the coin flip of bank fraud and money return, you’re never putting your eggs all in one basket.
Risk management is more than good insurance.
mojo@lemm.ee 8 months ago
I don’t think you understood what my comment said. Fraud is prevented with credit cards, and that risk isn’t there. It’s smarter to use credit over debit, any bank will tell you that.