>You missed the biggest advantage of credit cards - the limited liability of the card holder to fraudulent charges!
An excellent point. Although my bank (Chase) caps my debit card liability at $50 despite the difference in the law.
But that has its own disadvantages. Whenever I travel, if I use the debit card, I invariably get declined the first time I use it and my phone and email blow up with "Fraud Alert!" notifications.
Which is annoying as hell, especially since if I use a credit card for the same transaction, Chase doesn't flag that as fraud.
Which, of course, is related to how they indemnify my debit card above and beyond the law.
An excellent point. Although my bank (Chase) caps my debit card liability at $50 despite the difference in the law.
But that has its own disadvantages. Whenever I travel, if I use the debit card, I invariably get declined the first time I use it and my phone and email blow up with "Fraud Alert!" notifications.
Which is annoying as hell, especially since if I use a credit card for the same transaction, Chase doesn't flag that as fraud.
Which, of course, is related to how they indemnify my debit card above and beyond the law.