Theft, Fraud, Thirty Five Percent discussed on Optimal Finance Daily

Automatic TRANSCRIPT

This is optimal finance daily episode nine nineteen. Should i get a credit card part. Two by the finance twins of the finance twins dot com and again. I'm dan. I'm your host here on optimal finance daily and i am here each and every weekday reading to you from some of the very best personal finance blogs on the planet and and thank you to send pro online from pitney bowes shipping and mailing from your desk has never been simpler than with send pro online from pitney bowes with santa pro online. It's just click click send and save for as low as four ninety nine. That's four dollars and ninety nine cents a month. Try it free for thirty days and get a free ten pound scale when you who visit p._b._a. Dot com slash finance that's p._b. Dot com slash finance now. Today is a continuation from yesterday so if you are new here would would probably be best to start with yesterday's episode. I that's nine eighteen but if you are all caught up let's get right to part two as we optimize your life sir sir should i get credit card part. Two by the finance twins of the finance twins dot com debit records still provide protection against theft the security concerns sound scary and they are but the reality is that the big national banks will still not hold you liable liable for fraudulent transactions. If you report the card missing immediately before charges are made for many banks. They will only hold you liable for the first fifty dollars if you report the fraud within two days. This isn't zero but your emergency fund is there for a reason. The data says it all far more americans will be filing bankruptcy in twenty eighteen gene due to a mountain of credit card debt from overspending then due to fraudulent expenses on their accounts. If you want to justify getting credit card for the security benefits this. This is not a good enough reason if you aren't sure you'll be able to spend responsibly in addition if you normally use cash for a lot of your transactions using a credit card for cash cash advance at an a._t._m. Is strongly expensive. The interest rates on these withdrawals can go up to thirty five percent which is shockingly high to put that number.

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