Protecting the Rights of Consumers For Over 25 Years

Why it is safer to use a credit card than a debit card:

Debit cards are governed by the Electronic Funds Transfer Act, 15 U.S.C. 1693 et seq. ("EFTA"). The EFTA gives you the following protections:

• If you report a lost or stolen card within 48 hours of the time someone else uses it, the amount of money you are liable for is limited to $50.

• If you report the loss after 48 hours but within 60 days you face liability of $500.

• If you fail to report the lost or stolen card within 60 days, you are responsible for any money spent on the debit card. You may also incur overdraft fees.

Credit cards are governed by the Fair Credit Billing Act provisions of the Truth in Lending Act, 15 U.S.C. 1666. Under the FCBA, the cardholder's maximum liability is $50. You are also protected if goods you order are not delivered or if you are charged more than agreed.