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Visa check card (debt card)

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jeffery581
Established Contributor

Visa check card (debt card)

Is using a debt card (visa check card) safe? I have read lots of things regarding the lack of fraud prevention using a debt card. Stolen cards causing a chain reaction on your checking, ect. ect. I have avoided using one because in the past a "hold" was placed on funds that were not needed,(pay at the pump, which I know not to do now) this caused a chain reaction of checks to bounce. Do you use a debt card? Is it really safe? Thanks for your input!

Capital One Quicksilver Visa | Capital One Quicksilver Matercard | Sony Visa | ebay Mastercard | Best Buy Visa| Shell Mastercard | CareCredit | Amazon Rewards Visa | Discover it | Lowes | Home Depot | Chase Freedom | Ebates Visa | TJMAX Platinum MasterCard | Stash Signature Visa | Hilton Amex | Bank of America Cash Rewards Visa | Bank of America Better Balance Rewards Visa | US Bank Cash Rewards | Blue Cash AMEX | IHG Rewards Club World Mastercard | Barclay Cash Foward World Mastercard | Bank of America Travel Rewards Visa | US Bank Cash 365 AMEX | Amex Everyday | Target | CITI Double Cash | WELLS FARGO PROPEL AMEX | Royal Carribean Visa | AARP REWARDS VISA | BEst Western Mastercard
Message 1 of 13
12 REPLIES 12
lkcrew426
Regular Contributor

Re: Visa check card (debt card)

You have the same protections with a Visa debit card as you do with a visa card. However, your checking account will be out the money that is incurred in the meantime - whereas a credit account you are not "technically" out the money. It can take 60 days (or more occasionally) for a dispute to be resolved.

Message 2 of 13
Imhotrodcrazy
Valued Contributor

Re: Visa check card (debt card)

I use my debit card a lot and I have never had a problem. 

FICO 08
TU 842 12/8/18
EX 840 12/29/18
EQ 842 12/8/18
(NASA 30K) ( Amex 44k ) ( Freedom 10.6K ) ( US Bank Cash+ 20k, LOC 15k ) Winners never quit, and quitters never win
last app 2/15
Message 3 of 13
blacklotus
Regular Contributor

Re: Visa check card (debt card)

When I was going for a few years not using any kind of credit- mainly because of low Fico's I used only my debit card.  I never had a problem and it taught me not to spend more than what's in my checking account.  The only drawback to this strategy was that I had nothing credit wise to show all those years of not using credit.  

 

IMHO looking back I think once I got my budgeting skills under control I probably should've used one credit card and PIF because later on when my Fico's improved I would've had something to show for it.

 

EDIT:  Nowadays I budget much better and never buy anything on credit I couldn't easily PIF.  But I am still very careful and conservative and still use my debit card when I think I might be tempted to overspend.


TU Fico 736 EQ Fico 730 (December 2012)
Message 4 of 13
Imhotrodcrazy
Valued Contributor

Re: Visa check card (debt card)

I also used only my debit card for about 12 yrs.  I absolutely hated credit because of credit problems caused by my  "ex".  It has taken me the  last couple of years to get all of my scores above 700,  thanks to this forum.    I am also a very conservative person.  I never charge more than I can pay off, and usually do it within a few days of my purchase. 

FICO 08
TU 842 12/8/18
EX 840 12/29/18
EQ 842 12/8/18
(NASA 30K) ( Amex 44k ) ( Freedom 10.6K ) ( US Bank Cash+ 20k, LOC 15k ) Winners never quit, and quitters never win
last app 2/15
Message 5 of 13
MAstudent07
Contributor

Re: Visa check card (debt card)

I will say that using a debit card in my younger years taught me to only spend what is available in my account. I got my first credit card at 30 years old, and now I feel that I "get the jist" of spending only what is reasonable. A debit card played an important role in understanding some fundamental strategies to keep my spending in check. Smiley Happy

Amex BCE| BOA CB| Freedom| Citi DC| Discover It|
Message 6 of 13
Anonymous
Not applicable

Re: Visa check card (debt card)

This is a helpful overview of using debit cards, posted on the Credit in the News forums:

 

Hope that's helpful!
Message 7 of 13
Anonymous
Not applicable

Re: Visa check card (debt card)


@cruthisfamily wrote:

You have the same protections with a Visa debit card as you do with a visa card. However, your checking account will be out the money that is incurred in the meantime - whereas a credit account you are not "technically" out the money. It can take 60 days (or more occasionally) for a dispute to be resolved.


Not exactly.  Chargeback rights are, if they even exist, more restricted when using a debit card over a credit card. 

Message 8 of 13
Anonymous
Not applicable

Re: Visa check card (debt card)

 


@cruthisfamily wrote:

You have the same protections with a Visa debit card as you do with a visa card. However, your checking account will be out the money that is incurred in the meantime - whereas a credit account you are not "technically" out the money. It can take 60 days (or more occasionally) for a dispute to be resolved.


 

Apparently, everyone's mileage varies with this. BofA refunds the amount immediately and then at the end of their investigation, usually about 5 business days, if the merchant is not in the wrong or has in the meantime issued their own refund to you, the bank reverses their refund funds back to the merchant. Or at least that has been my experience about five or six times in the past 10 years.

 

Message 9 of 13
lkcrew426
Regular Contributor

Re: Visa check card (debt card)


@Anonymous wrote:

 


@cruthisfamily wrote:

You have the same protections with a Visa debit card as you do with a visa card. However, your checking account will be out the money that is incurred in the meantime - whereas a credit account you are not "technically" out the money. It can take 60 days (or more occasionally) for a dispute to be resolved.


 

Apparently, everyone's mileage varies with this. BofA refunds the amount immediately and then at the end of their investigation, usually about 5 business days, if the merchant is not in the wrong or has in the meantime issued their own refund to you, the bank reverses their refund funds back to the merchant. Or at least that has been my experience about five or six times in the past 10 years.

 


This is true. Upom recieving notification from the customer on the dispute, the bank is required to refund the fees while they investigate. However, if - for example - you have a $1,000 balance and $500 in overdraft protection and you lose your debit card. The theif spends the whole $1000 and then your rent check gets returned for $600. The error will be corrected but only after late fees, returned check charges, etc.

Message 10 of 13
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