E-Commerce Times Talkback

Re: Dodging the Perils of Online Shopping
Posted by: Pam Baker 2007-03-08 06:58:31

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If you're buying anything online anytime soon, you better charge it. MasterCard, Visa, American Express -- take your pick -- but don't hit the virtual checkout lane without your bank-protected plastic in hand. "Use a credit card for maximum protection against money theft online," attorney Mari Frank, author of Safeguard Your Identity , told the E-Commerce Times. Be careful, though -- all plastics are not equal. "Don't use a debit card," warns Frank, "because if fraud does occur, the money is drained from your account."

Re: Dodging the Perils of Online Shopping
Posted by: groze 2007-03-08 07:34:54 In reply to: Pam Baker

I disagree about using debit cards online. Debit cards with a MasterCard or Visa symbol are protected by their zero liability policy as well as the EFTA in the US. A lot of banks are not aware of this rule unauthorized transfers involving only your debit card number (not the loss of the card), you are liable only for transfers that occur after 60 days following the mailing of your bank statement containing the unauthorized use and before you report the loss. Even if $500.00 dollars is gone. You will get it back because you still have the card. I had a problem once using a debit card on a scam website. I hot carded my card and disputed the charge. Got my money back in about a week. I possible would not got my money back with a credit card because it was a small amount.
http://www.ftc.gov/bcp/conline/pubs/credit/atmcard.htm