using debit card

Are Debit Cards Dangerous to Use?

Are Debit Cards Dangerous to Use this is always on the tops of many people’s minds?

There’s a good chance that you pay for almost everything with your debit or credit card. For most of us, cash can seem a bit archaic. With a debit card, a purchase takes a matter of seconds: Tap (or PIN), pause for processing, receipt, and you’re done. At least, that’s what you’d like to think.

The black bars you see on the back of your credit and debit cards are the least secure payment methods, making them vulnerable to fraud. Unlike credit cards, debit cards provide access to your entire bank account. If a criminal drain your account, you might spend days waiting for the bank to remedy the fraud. It can take up to 14 business days for your bank to investigate fraud. A good credit card like a Chase Preferred offers fraud protection, so you don’t have to do anything. Meanwhile, in the most disastrous of cases, you can be left without a cent.


Give Card


About that magnetic strip or Chip

They’re convenient and can be used virtually anywhere. The downside? Magnetic strips and Chips are unencrypted. When you swipe your card, the card reader receives your name, card number, and expiration date. If a criminal installs a card skimmer, they can extract all three. In 2018, the Federal Reserve estimated that 55.4% of all card payments were made using a debit card. For fraud experts, it’s almost too easy.

Chip and pin: measurably better

Chip and PIN cards are more secure than standard cards to a certain degree. While chip and PIN cards use encryption for the information sent between the terminal and processing terminal, they still have magstripes. In this case, criminals will only have access to some of your data. They receive a string of characters used to hide your data, rather than your debit card information.


Man Spying For PIN Code

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