Discussion » Questions » Finance » In your opinion, what are some drawbacks to having a debit card as opposed to a credit card or an ATM card?
Randy D

In your opinion, what are some drawbacks to having a debit card as opposed to a credit card or an ATM card?

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Posted - February 2, 2020
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Responses


  • You’re drunk. (Yes, I know you don’t drink.) 
      February 2, 2020 2:49 PM MST
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  • 7280
    Well, I personally prefer using a credit card for various reasons---warranties, fraud protection, cash back or rewards, etc.---and I don't like the idea of my bank account being protected by only a 4 digit PIN number which has only a (relatively) small number of permutations.

    And I'm 75---I have a lot of habits and ways of doing things that serve me well and seldom need moderation. 
      February 2, 2020 2:50 PM MST
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  • 1152
    There are some entities (rental car agencies and some hotels come to mind) who will NOT accept a debit card as a security deposit or for payment.

    I lived for a couple of years without a credit card, but found it necessary to have one when I wanted to travel.
      February 2, 2020 3:07 PM MST
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  • 10502
    Skimmers (skim a debit card I'm SOL, skim a credit card and they will "fix" some of it). 
    Lack of "perks" (I 'milk' the perks).
    Can't remember the stupid PIN!

      February 2, 2020 3:08 PM MST
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  • 44362
    I had my debit card skimmed. The bank caught it immediately, turned the card off and reimbursed me. Great bank.
      February 2, 2020 3:20 PM MST
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  • 33031
    If you catch it quickly banks fix it. 
      February 3, 2020 5:09 AM MST
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  • 44362
    I can't think of any. My card can be used for all three.
      February 2, 2020 3:21 PM MST
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  • 33031
    Renting a car. Most places will not accept a debit card. 
    This is because a regular credit card provides insurance coverage for the rental car. Of course the rental place does not tell you that...
    However, most do not cover rental trucks of any size. 

    A debit card is an atm card. 
      February 2, 2020 3:45 PM MST
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  • 53019

      No all debit cards are ATM cards, and not all ATM cards are debit cards.  It would depend on what the particular banking institution issues.
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      February 2, 2020 11:23 PM MST
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  • 33031
    Yes they are. Acceptance depends on the type of cards that are processed at either the merchant/atm.  There are much more than just the major credit cards. Such as Shazam. For an atm/debit card to work it must use one of the systems. 

    There are pre paid credit cards. Which are not debit nor atm cards. This post was edited by my2cents at February 3, 2020 5:11 AM MST
      February 3, 2020 5:08 AM MST
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