card was not recognized by the point of sale (PoS) machine what a joke . same thing can happen with credit card too. PoS or at an ATM damaging debit card: Never heared of this. Same thing can happen with credit card too. PIN backfiring you: : Why would one forget the PIN of his own card. Moreover its a crucial safety feature which most of the credit cards do not have. Card Getting struct :Never encountered and very rare. Unsuccessful transacctions: :Never encountered. Even if happens money would credited back in three days.
All the above issues can not be encounted if you have more than one debit card. Opening a bank account is very simple these days. For this sake never go for a credit card which may lead to a debt trap one day or the other.
card was not recognized by the point of sale (PoS) machine what a joke . same thing can happen with credit card too. PoS or at an ATM damaging debit card: Never heared of this. Same thing can happen with credit card too. PIN backfiring you: : Why would one forget the PIN of his own card. Moreover its a crucial safety feature which most of the credit cards do not have. Card Getting struct :Never encountered and very rare. Unsuccessful transacctions: :Never encountered. Even if happens money would credited back in three days.
All the above issues can not be encounted if you have more than one debit card. Opening a bank account is very simple these days. For this sake never go for a credit card which may lead to a debt trap one day or the other.
I have never encountered such issues with my debit card. Having a PIN number(even for POS terminals) for debit card is always good since no body can do anything, if your card is stolen/lost. strandge that This feature is being projected as negative point here. Moreover everybody have multiple accounts and if one debit card fails(as portrayed here) another card would save you. But , Pls do not go for a credit card. If you credit card is stolen , it is equivalent to a lost money of credit limit.
Re: Indirect marketing for credit card
by N Anantharaman on May 20, 2011 10:32 AM
Ok - you may not have ever forgotten your PIN number for debit card. But I have some 10 cards - and I keep changing the numbers every year or so. It is just possible that I end up punching the older number or some other number thrice before realising the mistake (happened once so far in 10 years). Credit cards are the safest way to pay. If it is stolen, you report immediately and the card is sealed. Even if not, you buy card loss protection and you are quite safe against misuse. You just need to bring any wrong transactions to the notice of your bank immediately as soon as you realise a mistake! Credit cards are a whole lot safer than debit cards .. at least for online transactions!
Re: Re: Indirect marketing for credit card
by Bala on May 20, 2011 02:39 PM
what a joke.. loosing a credit card is as equivalent to loosing the amount equivalent to credit limit. What if you realize the stolen card a day later. Banks are not liable for any misuse before the launch of the complaint. Moreover having ten cards and diffrent pin for each card is very bad idea. Its your irresposibility caused your failure not the debit card's security mechanism. Credit card loss protection saves you only from deliberate theft of your card. eg. your home being burgled. It doesn't save you from your mistake of loosing the card. So.. Pls do not misguide us to go for a credit card which would end us in debt trap some day in future.
