Don't Waste Your Money: Debit card dos and don'ts - Toledo News Now, Breaking News, Weather, Sports, Toledo

Don't Waste Your Money: Debit card dos and don'ts

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(WTOL) - Despite their popularity, debit cards are causing more and more problems. There are some things consumers need to watch for when using debit cards.

Even though more and more banks are adding fees, debit transactions will exceed credit for 2012. But there are still some debit card don'ts.

The April issue of Consumer Reports ShopSmart magazine said while debit cards help you avoid getting deep in debt, they can still get you in a lot of trouble. So it suggested not to use a debit card for online shopping, based on security reasons.

Don't ever use a debit card on an overseas trip because of the high risk of fraudulent charges.

Don't use a debit card for large purchases such as big televisions or furniture. With a credit card, you can easily dispute a broken television.

Don't use a debit card to raise your credit score; you need a credit card to do that.

From the doesn't that stink file: the fraud protection programs on debit cards. Banks will reimburse you if you can prove a purchase was fraudulent. But fighting a bad charge can take months, leaving you out of money.

You don't pay a dime when disputing a credit card purchase.

So while debit is convenient, it is not the best card for everything. If you shop online, it's much safer to use credit or PayPal so you don't waste your money.

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