Debit vs. Credit - Which One Offers More Fraud Protection - KMPH FOX 26 | Central San Joaquin Valley News Source

Debit vs. Credit - Which One Offers More Fraud Protection

FRESNO, Calif. (KMPH) -

With millions of people possibly having their debit card and credit card information stolen there are steps you can take to lower your chances of becoming a victim of fraud. The question is which one provides more protection, a debit card or a credit card?

Financial analysts say if a thief uses your credit card you can't be held accountable for more than $50. If a bad guy uses your credit card online you don't have to pay anything. However, if a hacker uses your debit card you have to report the theft within 2 days of realizing it. If you don't you're on the hook for $500 and that number can go up the longer you wait.

When it comes to getting the problem resolved using a credit card is the better option. Financial analysts say credit card fraud gets resolved a lot faster, because the charges are taken off your account immediately. With a debit card you might not get the money back for a few weeks, because the bank has to investigate.

To protect yourself financial analysts recommend that you check your accounts at least every few days. If there's anything fishy you should report it immediately. You can also set fraud controls by having your bank or credit card company notify you whenever a large purchase is made.

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