Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.
I Select ‘Credit’ When Using My Debit Card. Is That Good or Not?
John from Florida asks: "I know Clark's not a fan of debit cards for purchases, but I select "credit" when using my debit card for groceries, etc. Is that not good, and why?"
Clark’s Take on Whether Selecting ‘Credit’ Helps Protect You When Using a Debit Card
Clark says: When you use a debit card and select "credit" when making purchases, it's good for the card issuer. The consumer? Not so much.
“A debit card is potentially dangerous because Congress has never passed consumer protections for debit cards. Protections have existed for credit cards for almost 60 years,” Clark says.
Want to learn more? Read why you should never use a debit card.
To hear Clark’s full take on this question, listen to the segment from his podcast:
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If you have a question but don't want to go on-air, contact Clark's Consumer Action Center for free money help.
More Resources From Clark.com:
- Clark Howard: My 7 Rules for Using Credit Cards
- These Are the Best Cash Back Credit Cards
- Here Are the Best Rewards Credit Cards
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