Use Your Debit Card Sensibly

The shopping season is here, and the increasing rates and fees on credit cards are forcing customers to switch to other ways of credit including debit card.

And since shoppers are using debit cards more often than credit cards, it is important to use your debit card in the wisest ways possible during the holiday shopping season.

Here are some debit-card tips to help you out:

• Keep in mind that debit-card purchases that are returned or disputed may not be refunded right away. The dispute will have to be resolved first.

• When shopping online, be careful not to hit a Web browser’s "back" button because it will reload the transaction and may charge you twice.
• Debit cards are easier to use as compared to credit cards. In case your debit card is used fraudulently, then report it immediately because you will have to face higher liability for debit-card fraud as compared to credit-card fraud. If you wait any longer than two days after learning about the fraud to notify the bank, your liability jumps from $50 to $500, and under certain circumstances, up to the entire amount stolen.

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