Credit cards are the safest way to buy anything, they have protections if the charges need to be disputed.
GREENSBORO, NC –
It’s shopping season. How you pay for what you buy is key. A credit card, not a debit card, is your best protection. If the item isn’t correct, never appears, or the site you purchased it from is a scam, these are just charges your credit card company can waive, without the money won’t get out of your pocket.
If you use a debit card, the bank can still get your money back, but it might take a while and that money is real money in your account.
If the merchant site allows you “only” to pay by
an app like Cash App, Venmo or even Zelle, you might be dealing with a scam site.
âThese sources and websites often only ask for payment through a wire service like Paypal, Venmo, Zelle where when those services went through the transaction, that money was gone. It is most likely almost impossible for the consumer to get their money back, âsaid Dave Hollister, of the US Secret Service Cyber ââFraud Task Force.
Your credit card or debit card is tied to a bank or financial company, treasury apps or so-called peer-to-peer payments are not. They are tied to a third party who simply carries out the transactions. You will not find the same customer service, you will not find the same protections. It just isn’t there.
The North Carolina Public Interest Research Group or PIRG investigated complaints about digital wallets. The three main ones: managing, opening or closing an account, fraud or scam and unauthorized transactions.
“A lot of people don’t know it’s instantaneous, once you send the money you will never see it again and that covers issues from fraud to simple mistakes such as entering the wrong username.” said Katie Craig, director of NC PIRG.
Again, your credit card is the safest way to pay for your holiday purchases … don’t forget to pay off the balance.