Who Pays?? Loss of Cr. card vs Debit card ...??

Discussion in 'Homesteading Questions' started by fordy, Oct 8, 2006.

  1. fordy

    fordy Well-Known Member

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    .............I need some info on this scenerio . If , you lose a Cr. card and notify the bank fairly quickly your loss is limited to the first $50 for any unauthorized charges . Now , I lost a debit card (on saturday , the 6th.) in the local super walmart . I , immediately notified the bank with an email as soon as I got home and asked them Too cancel the card . As of 5 pm , cst.(the 8th.) NO charges have shown up on my acct. via the computer . The bookkeeping won't be brought up to speed until tomorrow , although all purchases made at W\mt. with my debit card have always been posted on my account before I got home . So , Somebody give me the bad news :help: about this situation . thanks , fordy... :Bawling:
     
  2. Snowdancer

    Snowdancer Well-Known Member

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    I don't know about your bank but my Bank of America debit cards have a $50 limit of liability just like their credit cards.

    One other thing, tomorrow Mon Oct 9 is a Legal Holiday(Columbus Day) so I don't know if the bank will be working on your request for cancellation or not. :shrug:
     

  3. patarini

    patarini Well-Known Member

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    same as credit i believe 50 bucks max is all
     
  4. YoungOne

    YoungOne Well-Known Member

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    I have horrible luck with cards. I have had my debit card stolen or lost 4 times in the last 5 years (why I don't carry one anymore). Each time I wasn't held responsible for anything. The trick is to keep a photocopy of your card (front and back) showing your signature. If they try to hit you with fee's or charges just ask them to match the signature. They will threaten charges against the stores that accepted it and you won't be held up for any of it.

    P.S. - I took an extra step about 3 years ago and put CID (see ID) on the back of all of our cards (I do cary a work card) and man do the banks love that. It shows that the cashier showed no responsibility in using the card.
     
  5. fordy

    fordy Well-Known Member

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    .................Thanks guys , you'll have made me feel alot better about this situation . First time I've ever lost a CC of any type so I'm feeling alittle stupid but It'll be better tomorrow . :dance: fordy... :)
     
  6. homebirtha

    homebirtha Well-Known Member

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    I would call rather then relying on e-mail too.

    I think our debit card has $0 liability, just like my credit card.
     
  7. suburbanite

    suburbanite Well-Known Member

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    debit cards have passwords too, unlike credit cards, so that should make it harder for anyone to abuse. And your liability is limited anyway.
     
  8. travlnusa

    travlnusa Well-Known Member

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    If your card has (had) a Visa/Mastercard logo, you will find on their website that you are coverd on your debit card as you are with a credit card.
     
  9. Burbsteader

    Burbsteader Well-Known Member

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    most debit cards can be used as a credit card, so the PIN is not much protection.
    As a cashier I get thanked constantly because I check the cards and ask for ID.
    Can't tell you how many people have said that I am the first one in all the years they have had their card to actually ask for ID when the only thing on the card says 'See ID'.
    I also make sure to thank anyone who asks for my ID. Some don't ask because idiots yell at them. :flame:
     
  10. Loriann1971

    Loriann1971 Well-Known Member Supporter

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    For years my mother didn't sign the back of her credit cards. When I asked her why, she told me that makes the cashier have to ask to see ID and if it were ever stolen then the theif couldn't use it, because they wouldn't have ID with her name on it. I pointed out that with a blank signature spot the theif could just sign her name and then that signature would perfectly match the signature the theif used at the store. LOL She finally got what I was saying and started signing her cards.
     
  11. MarleneS

    MarleneS Well-Known Member

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    Check the paperwork that came with the card - there is a phone number to call to report lost or stolen cards....hopefully you aren't one of those people do not even read the paperwork but toss it thinking you'll never need it. Or in the future, like someone else suggested. make a photo copy of the front and backs of all your cards - put that in a fireproof place :)

    Marlene