Tips for using debit card for Christmas shopping

In this article I am giving you few tips for using your debit card for Christmas shopping:

Keep an eye on how much you spend

If you won’t keep an eye on your balance then you may incur overdraft charges. New laws that has restricted over-limit fees on credit cards don’t apply to overdraft fees on debit cards.

christmas shopping

As overdraft fees is up to $35 per overdraft, so with such a higher fees you can find yourself in a very big hole very fast. So you should look for banks that automatically enroll you in overdraft protection programs, as well.

Avoid using Debit Cards for Large Purchases

The same protection is not offered by debit cards to you as you get with credit cards. Debit cards also do not allow you to reverse or dispute charges.

Avoid using a  Debit Card for Online Transaction

If your credit card is lost by you or you have your credit card identity stolen and if you don’t report the loss within 60 days  then your liability for unauthorized charges is capped at $50, while for debit cards the cap can run up to $500.

online transaction

If the loss has not been reported by you within 60 days, you might be responsible for all charges made until the report is filed.

Avoid using your Pin Number for Debit Card Transaction

There are some card companies that provided the same zero-liability protection to debit cards as they do to credit cards, if the debit cards are processed as credit cards. There is high probability that PIN transactions may not have that protection.

Avoid to Link your debit card with a large balance Account

Thieves can steal all your money from your debit-card-linked checking account leaving it empty in no time. They do this particularly during the holidays, like Christmas holidays.

So follow these tips and avoid any money loss from your debit card. Do your shopping on Christmas but don’t forget these important tips, and have a happy shopping period on this Christmas :)

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