Why would B&H promote this??

Started 2 months ago | Discussions thread
Michael Fryd
Michael Fryd Forum Pro • Posts: 11,281
Re: Why would B&H promote this??
4

WunWegWunDarWun wrote:

Tom_N wrote:

WunWegWunDarWun wrote:

I guess, but ever thought why these things can't be automatically linked to your checking account to be deducted debit-style the moment they are incurred if you have the funds ?

You can use many debit cards in the same way as credit cards. But credit cards are safer in the sense that they usually have more legal protections, and do not offer fraudsters the account numbers of your personal checking and savings accounts.

Yes but can you use credit cards in the same way as debit cards - to have the the sum deducted directly from your checking account balance at the time of purchase if it is sufficient to cover it or have the transaction rejected if it isn't ?

One of the big advantages of a credit card over a debit card is that with the credit card the funds are not immediately withdrawn from your account. This can make a big difference when there is credit card fraud.

Suppose someone gets your card number and runs up thousands of dollars in fraudulent charges. With a debit card, those funds are immediately withdrawn from your checking account. This can lead to checks and other transactions bouncing. This can be a pain to recover from as you need to convince both the bank and the merchant to reverse the bounced check charges. You also need to contact the bank and convince them to give you the money bank while they investigate the fraud.

With a credit card you merely contest the fraudulent charges. The money is never withdrawn from your account, and your checking account is not in danger of being emptied out.

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