Partner Article

Hass and Associates Accounting: Credit cards and holiday shopping

If you’re a hacker planning to launch a campaign against unsuspecting internet users, when would be the best time for you to get the maximum results? That’s right, the holiday season.

Just by reading the tech news every day, it is enough to scare any sensible person from using the internet in conducting business. In fact, most people seem to be too accustomed already to such security threats that it almost sounds like they’re resigned to the fact that becoming a victim is unavoidable.

So before you continue your ‘convenient’ online shopping this holiday season, read on for reasons why you should use your credit card instead of your debit cards from Hass and Associates Accounting.

Credit card is obviously the better choice when it comes to cashless shopping. Aside from having better security on your data, it is also relatively easier to dispute charges made on a it compared to debit card. On the surface, both can protect you from bogus charges, however, the critical difference is this: charges to a debit card readily removes money from your bank account while those made on a credit card can still be disputed before any fund gets removed.

Moreover, according to the Fair Credit Billing Act in the US, credit-card users should be protected against failure to deliver services or products agreed upon. This means that if an online seller failed to deliver, the buyer can still ask for a refund or a chargeback from the card company. On the other hand, using a debit card is not covered by this federal law as it effectively means that you have authorized your bank to release money even though the goods did not reach you.

As reported by Hass and Associates Accounting, many credit card companies are now providing purchase-protection policies, albeit limited ones, in order to cover damage or theft. For instance, you may avail of a policy that covers loss or damage 100 days after your purchase but only insured up to USD 500.

This was posted in Bdaily's Members' News section by Leah Conroe .