We’ve talked before about the risks of carrying your debit card unnecessarily. Unlike credit cards where your liability for fraudulent transactions is capped, if your debit card is lost or stolen, you are liable for any purchases made on the card up to the full amount of your checking account.

A new report is describing yet more problems with debit cards. Because of the way the transactions are processed, they are apparently much more fragile than credit card transactions. The slightest mistake in the process and you could see double and even triple charges on your statement for the same goods. The merchant will probably refund the overcharge but in the meantime you have already been hit with overdraft charges, late fees and damage to your credit report.

Read more about how this weakness occurs at StorefrontBacktalk.com.

Debit cards are convenient but it’s increasingly clear that they’re not worth the risk for consumers. Ask your bank for an ATM-only card and cut up your regular debit card. Use a credit card for purchases.

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