Why It's Always Safer to Make Purchases With a Credit Card

It's a shame, but at work I deal with fraud on an almost daily basis. So it was no surprise to me when I got a text from Chase Bank on Thursday morning about a fraudulent charge on my IHG Rewards Club Card. Someone was apparently trying to purchase something for $2,000 in Phoenix, Arizona. While I spent some time in Arizona this spring, trust me, I was home this week.

Now imagine if I'd been using my debit card for the majority of my purchases. These fraudsters would've hit my bank account for roughly $2,000! Granted, I would've got that money back but there would've been a delay of probably 1-2 business days. That delayed refund could've set off a chain reaction of insufficient fund charges and returned payments. Talk about a HEADACHE!

IMAGE COURTESY OF CHASE.COM

IMAGE COURTESY OF CHASE.COM

When you make purchases with a credit card you're basically paying with another person's money. If a charge for $2,000 shows up, you give them a call and they remove it, no damage done. Your credit card offers a a secure buffer between your bank account with your hard earned money and the very people who are trying to steal it.

Who else uses their credit card for added fraud protection?