Home Finance Credit Card vs Debit Card: Which is Safer During Online Shopping?

Credit Card vs Debit Card: Which is Safer During Online Shopping?

by Soft2share.com

With the recent upsurge in ecommerce websites, the inclination of individuals to spend online has also increased.

As a result, credit cards have been observed as one of the most noted forms of online transactions. They offer various security benefits over standard debit cards. In a comparison between credit card vs debit card, the former is preferred due to a higher number of security features.

Here are a few ways how a credit card provides a much safer online shopping experience compared to debit cards.

Zero fraud liability

The zero fraud liability feature states cardholders shall not be held accountable for any fraudulent transactions on their cards if it’s reported within a specified time.

If you were using a debit card, then there would be no way of recovering the amount withdrawn using your card fraudulently. Most financial institutions do not offer this facility on debit cards, making them an unfavourable mode of online transaction.

However, with zero fraud liability, once your card issuer is informed about the credit card fraud, you shall not be held liable for any fraudulent transactions.

The reporting period varies among different financial institutions so it is recommended that you learn the terms before availing a credit card.

In hand security facilities

These facilities provide better control over your transactions and how you use your credit card. One such feature involves the use of an app that lets you record every activity related to your card.

Top financial institutions provide similar apps that let you track investments, loans, EMIs and a lot of things associated with your card. You can have a clear record of all your online transactions in one place.

Any fraudulent activity can be detected instantly and reported back to your card issuer for immediate consideration. The detailed records provided by your app can significantly help you with your credit card bill payments.  

Prevention of massive deficits

In case of fraudulent activity you can end up losing a significant amount of your savings. Debit cards usually do not have fraud liability protection, which can result in a massive financial loss for the cardholder.

However, in case of a credit card, you are using a line of credit instead of actual funds. Therefore, you can be exempted from paying any fraudulent charges if you report the incident within a given time frame.

This facility alone proves that credit cards are a better option compared to debit cards in a credit card vs debit card scenario.

Builds and preserves your credit score

Availing a credit card and making timely payments is an optimal way to build your credit score. Higher credit scores make you eligible for a more significant line of credit and other benefits.

Not only can you increase your CIBIL score, you can also prevent it from decreasing due to unauthorised withdrawals. Prompt security reporting features along with zero fraud liability, makes credit card a much safer mode for online transactions.

You can avail all of these features and more in the Bajaj Finserv RBL Bank SuperCard where the features provided are similar to those offered by top credit card issuers.

Caution is advised while entering your credit card details online. While comparing a credit card vs debit card, the former seems to provide various features to facilitate a more secure online purchase. Compared to debit cards, the inherent security features make it easier and safer to get the most out of your credit card.

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