Experts Suggest That Credit Cards Are A Better Option For Security Than Debit Cards
Late last week, NBC dedicated some of it’s morning airtime with the Today Show to do a segment on credit skimming (and debit skimming). There was some interesting reporting especially when it comes to the ease of swiping the info from a credit or debit card. Security expert Jim Stickley showed just how easy it is to steal the information by posing as a waiter and using a portable “swiper” available for purchase on the internet and a hotel key card, nothing more.
Dangers of credit-card skimming
Later in the evening, CNBC re-aired the same production on its On The Money program, with Mr. Stickley again making himself available for a guest spot. This time, credit expert (and frequent CNBC correspondent) John Ulzheimer also appeared as a guest to lend his expertise and opinion on the subject as well:
Bottom line: both experts agree that using a credit card for situations when you give up possession of your card over the use of debit cards. Using a credit card with a low limit, called a “beater card” would limit the amount of fradulent purchases thieves can make while still alowing the card owner to retain their zero-liability with timely reporting of the fraudulent charges. Using a debit card is discouraged due to the numerous NSF charges that can be accumulated against the account, while draining the account into negative territory. The use of credit freezes is another benefit of using credit as opposed to debit cards as discussed by Mr. Ulzheimer.
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December 23rd, 2008 at 1:10 am
Huh. I had no idea. This was very helpful. Thank you for sharing this.
December 23rd, 2008 at 2:08 am
[...] Experts Suggest That Credit Cards Are A Better Option For Security Than Debit Cards [...]
December 23rd, 2008 at 5:02 am
[...] Original post: Experts Suggest That Credit Cards Are A Better Option For Security … [...]
December 23rd, 2008 at 9:13 am
I was very surprised at the ease with which someone can duplicate a debit or credit card Brandon. I’ve never been one to use my debit card in the first place, but since I saw the videos, I’m telling people about it and hopefully keeping them from becoming future victims.
December 23rd, 2008 at 10:48 pm
Or you can just use cash – then you don’t have to worry who’s swiping what and where.
thanks for the post.
December 24th, 2008 at 8:25 am
That may be true, Dustin, but may not be as easy to do as it is to say. Cash is even less secure, since if you happen to lose the money somehow it is gone forever. At least with debit and credit cards there is some built-in measure of security and liability limitations.
December 27th, 2008 at 8:18 pm
“Cash is even less secure, since if you happen to lose the money somehow it is gone forever”
Exactly. Especially when one travels – in some countries having one’s purse cut is not unheard of. But even if one doesn’t travel – money can be stolen from one’s home as well.
December 27th, 2008 at 8:34 pm
Agreed Kitty. While cash may be the preferred payment method of choice for many, it is always the least secure and least easily trackable option.
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