4 Disadvantages or Dangers Bank Debit Cards

Credit cards are useful for a variety of purchases - hotel reservations, car rentals, airline tickets, etc. Many people realize the importance of keeping low consumer debts, and to eliminate the temptation to spend, some people remove credit cards from their wallet and carry a debit card. Since the majority of bank debit cards have either a Visa or MasterCard logo, these can be used at many major retailers, and they can take the place of credit cards. You can use a Visa logo debit card to buy a plane ticket, reserve a hotel room, and much more. And since the funds are drafted from your personal bank account, you don't have to worry about debt accumulation. Yet, there are a few disadvantages or dangers associated with debit cards.

1. Fraud Charges: Once debit card danger involves fraudulent charges. Though fraud purchases can occur on a credit or debit card, if a person steals your credit card and goes on a shopping spree, their action won't impact your pocket. On the other hand, if someone steals your debit card and completely wipes out your bank account, this can create a chain reaction, wherein checks start to bounce and you receive multiple overdraft fees. While banks are prepared to reimburse the stolen money, it can take up to 10 days to have your account credited. Plus, you have to contact your personal creditors and explain the situation.

2. Merchant Errors: Have you ever purchased an item and had the merchant charge you twice for the same purchase - I have! Merchants make mistakes, and sometimes a consumer is doubled charged for a high ticketed item. Again, if the consumer used a credit card to buy the item, they aren't immediately affected. Then again, if a bank debit card is used to pay for the item, their account might reflect a "red balance."