Credit or debit -- what's the difference between the two?

Updated: 02/10/2014 7:34 AM
Created: 02/10/2014 7:29 AM WHEC.com

There have been several recent security breaches at Target, Neiman Marcus and Michael’s stores. If a thief goes on a shopping spree with your card, could you be responsible for the charges?
By law, the maximum liability for fraudulent charges on credit cards is $50 but with debit cards, the longer you wait to tell your bank the more it could cost you.

If you report it right away and there are no charges, it costs you nothing and if you tell the bank within two days, you are liable up to $50. But if 60 days go by and you don't report it to your bank, you're liable for all the money that has been taken from your accounts.

News10NBC/WHEC-TV welcomes your opinion and interaction on our website, but please remember to keep it clean. If you're advertising for another business, being profane, vulgar or slanderous your post will be deleted. By commenting on this website, you agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use. Comments are not pre-screened before they posted.


19° | 13°
  • Feels like: -1° F
  • Wind: NNE 15mph
  • Humidity: 77%
  • Wed Times of sun and clouds
    25° | 10°
  • Thu A few afternoon snow showers
    30° | 12°
  • Fri Snow showers early
    23° | 15°
  • Sat Mostly cloudy
    15° | -2°