Do you ever alternate between credit and debit cards when making purchases? If you are like most people, the answer is yes. But did you know that there are some purchases you shouldn’t put on debit cards? Here are five purchases that you should never put on debit cards, according to Daily Finance:
1. Online Purchases
According to the article, it’s best to leave online purchases off your debit card and to use a credit card instead. In the event that your card number is stolen, you then only need to worry about the amounts charged to the credit card and not about losing any and all available funds in your bank account.
When using a debit card for gas, a short-term monetary hold ranging from $50 to $100 is often put on the funds in your account. This can cause issues, especially if you have a low account balance to begin with.
Similar to gas stations, hotels will usually apply a $100 to $200 hold on funds in your bank account in addition to the actual hotel cost. Again, this can be an issue for anyone with a low balance in their account.
4. Large Purchases
According to the article, if you make a large purchase with a debit card you are often unable to stop payment if the product is defective. It can take longer to resolve the issues with the merchant and, in the mean time, the merchant will have your money. With a credit card, you can stop payment and the situation can be remedied fast.
5. Dubious Places
You should never, ever, use a debit card at any place that looks questionable. If you are worried about paying for something in a dubious place – using a credit card can be a good way to protect you and your money.