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Market turmoil caused by obscure strategy?
44 million tried Apple Music in its first month
When do markets close for Labor Day?
Amazon to buy video software company
ISM services index slows, but tops forecast
Jobless claims rise to two-month high
U.S. trade deficit shrinks 7.4% to $41.9 billion
L.L. Bean longtime CEO Leon Gorman dies
Treasury's Lew irked by China's FX move
Kentucky clerk jailed over marriage licenses

Oops — Rick Perry says broken clock right once a day

Six actors who were almost cast as James Bond

Sizeable outflow from China adds to fears

Ad war over oil exports heats up as vote nears

What it’s like to play tennis with a ‘smart’ racket

Tom Brady’s ‘Deflategate’ suspension overturned
The real Deflategate verdict? NFL’s in trouble

Immigration to Germany hits highest mark since 1992

Chaos at Budapest train station as migrants rush trains
Budapest and Europe face a migrant crisis
Syrian refugees reach Norway — via the Arctic
Father of drowned Syrian boy describes voyage

Gates: How we can avoid worst of climate change

Watch China’s    90-minute parade in 60 seconds
Xi talks peace, but China parade flexes power
China markets close for war anniversary

Blame Marissa Mayer for maternity-leave shrink

Karl Lagerfeld is coming to a store near you

These are the college majors that are dying

They tangled with student debt all summer
College help for low-income families

Investment risk has changed, so this must change too
Volatility is driving foreign buyers to Treasurys

The search for 1,000 angels to help women startups

43% of U.S. homes are at high risk of natural disaster

Why the U.K. Hugo Chavez will be good for its economy

Why India is worth a look if you’re cooling on China

Apple’s biggest challenge: Topping the iPhone 6
Apple set to join content contest
What to expect from the Apple event on Sept. 9
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/quotes/zigman/16008150/realtime/sampled 119.86 -0.21 0.17%
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Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 88.15 -1.74 -1.94%
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1.5%
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0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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Pay Dirt
A daily look at what we buy, how we spend, and the companies that do right - and wrong - by their customers.

Another Reason to Stop Using Your Debit Card

In yet another example of how vulnerable our personal data really is, criminals have stolen customer debit card data from 90 PIN pads at Michaels arts-and-crafts stores across 20 states. But it also raises another question: Why are we still so attached to our debit cards? Why not cash or credit, both of which offer more protection than a debit card?

iStockphoto

If you report your lost debit card within two business days after you realize it’s missing, federal law places a $50 liability limit on debit card losses which is soaked up by the card issuer. But, if you don’t notice money is missing from your bank account within two business days, you may be liable for up to $500 and, if you don’t notice the theft of your card within 60 days, you may never be reimbursed.

Credit cards, on the other hand, limit a customer’s liability to $50 – even if a thief maxes out your credit limit. Card companies can do this because they place the responsibility on merchants to prevent fraud; if a stolen card is used, the card company simply doesn’t pay the merchant. Bad for merchants, but good for consumers. If you report the loss before it’s used, you pay nothing.

Cash, on the other hand, can get stolen and used with impunity. But there’s limited risk: All the thief can get is what’s in your wallet, and with limited exceptions, people don’t tend to carry more than they can afford to lose.

Of course, maybe that’s because they’re carrying a debit card, so who needs cash? The convenience is understandable, and consumers’ relatively new desire to minimize credit card debt is laudable. But the more we use our debit cards, the more common these kinds of thefts are likely to become. Is it worth it?

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (5 of 13)

View all Comments »
    • bonjour je pose une question aux gens qui sont rencammet acceptes l’entrevue, est- ce que je peux faire une demande d’immigration sans assurence?merci

    • I enjoy reading your cub reporters attemps at becoming journalists.

      The stories here are nothing more that attempts to make good bad and bad good. SNL writers to be!

    • Who are you people these articles use nothing but scare tatics to get a headline…there is no story here you are simply stating the obvious.

    • Having owned several small business, I can answer the question as to why businesses do not offer discounts for the use of cash – they can’t! It would be a violation of the credit card agreement that the business has signed with the credit card companies. In other words, for my businesses to accept VISA, MC and AMEX, I have agreed with them (through the signed merchant agreement) NOT to discount my prices by the use of cash only discounts. This type of language is standard in all merchant agreements. Violations would mean that they would take away your ability to accept credit cards.

    • 5:27 pm May 13, 2011
      Wondering wrote:
      .I use debit cards only at ATM machines. However, I would pay cash if I could get a discount, since the merchant is saving 2-3%. I use credit cards because I get some of that back in miles or other, smaller, benefits. It would be much more efficient for me and maybe better for the merchant also, if I could get cash discount. What is stopping merchants from offering such a discount?

      — What has prevented this in the past was the contract the card companies forced the retailers to sign, prohibiting retailers from giving a discount for cash if they wanted to be able to accept the cards. This has changed, though, thanks to the Obama administration’s consumer finance reform act passed last year. As of July 1, 2010, card companies cannot prohibit retailers from offering cash discounts.
      I do see some results of this in my area, particularly with gas stations that have two sets of prices, one for credit cards and one for cash.
      So speak to your favorite retailer and ask why they don’t do it too. (My guess is either, they still haven’t adjusted, or it’s too inconvenient to go back to handling a lot more cash.)

About Pay Dirt

  • Pay Dirt examines the millions of consumer decisions Americans make every day: What to buy, how much to pay, whether to rave or complain. Lead written by Quentin Fottrell, the blog examines these interactions, providing readers with news, insight and tips on shopping, spending, customer service, and companies that do right – and wrong – by their customers. Send items, questions and comments to quentin.fottrell@dowjones.com or tweet @SMPayDirt.

MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

Tokyo Markets Close in:

need to know
Market turmoil caused by obscure strategy?
44 million tried Apple Music in its first month
When do markets close for Labor Day?
Amazon to buy video software company
ISM services index slows, but tops forecast
Jobless claims rise to two-month high
U.S. trade deficit shrinks 7.4% to $41.9 billion
L.L. Bean longtime CEO Leon Gorman dies
Treasury's Lew irked by China's FX move
Kentucky clerk jailed over marriage licenses

Oops — Rick Perry says broken clock right once a day

Six actors who were almost cast as James Bond

Sizeable outflow from China adds to fears

Ad war over oil exports heats up as vote nears

What it’s like to play tennis with a ‘smart’ racket

Tom Brady’s ‘Deflategate’ suspension overturned
The real Deflategate verdict? NFL’s in trouble

Immigration to Germany hits highest mark since 1992

Chaos at Budapest train station as migrants rush trains
Budapest and Europe face a migrant crisis
Syrian refugees reach Norway — via the Arctic
Father of drowned Syrian boy describes voyage

Gates: How we can avoid worst of climate change

Watch China’s    90-minute parade in 60 seconds
Xi talks peace, but China parade flexes power
China markets close for war anniversary

Blame Marissa Mayer for maternity-leave shrink

Karl Lagerfeld is coming to a store near you

These are the college majors that are dying

They tangled with student debt all summer
College help for low-income families

Investment risk has changed, so this must change too
Volatility is driving foreign buyers to Treasurys

The search for 1,000 angels to help women startups

43% of U.S. homes are at high risk of natural disaster

Why the U.K. Hugo Chavez will be good for its economy

Why India is worth a look if you’re cooling on China

Apple’s biggest challenge: Topping the iPhone 6
Apple set to join content contest
What to expect from the Apple event on Sept. 9
/conga/frontpage.html 354117

Markets »

109.73MDow Volume:
Avg Vol: 113.10M
Unchanged
224
Decliners
2653
Advancers
3709
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,375 +23 0.14%
Nasdaq
/quotes/zigman/12633936/realtime 4,733 -16 0.35%
S&P 500
/quotes/zigman/3870025/realtime 1,951 +2 0.12%
GlobalDow
/quotes/zigman/629063/realtime 2,324 +1 0.03%
Gold
/quotes/zigman/662444/delayed 1,125 0 0.00%
Oil
/quotes/zigman/2331095/delayed 46.68 -0.07 0.15%
FTSE 100
/quotes/zigman/3173262/delayed 6,194 +111 1.82%
DAX
/quotes/zigman/2380246/delayed 10,318 +270 2.68%
CAC 40
/quotes/zigman/3173214/delayed 4,654 +99 2.17%
FTSE MIB
/quotes/zigman/1482176/delayed 22,177 +565 2.62%
IBEX 35
/quotes/zigman/2759620/delayed 10,042 +104 1.05%
Stoxx 600
/quotes/zigman/2380150/delayed 362 +8 2.37%
Asia Dow
/quotes/zigman/6959860/realtime 2,708 -5 0.19%
Nikkei 225
/quotes/zigman/5986735/delayed 18,064 -118 0.65%
Hang Seng
/quotes/zigman/2622475/delayed 20,935 -250 1.18%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,765 +311 1.22%
Singapore
/quotes/zigman/1709939/delayed 2,906 +28 0.98%
Euro
/quotes/zigman/16008136/realtime/sampled 1.11 +0.00 0.04%
Yen
/quotes/zigman/16008150/realtime/sampled 119.87 -0.20 0.17%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 0.00 0.05%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 0.00 0.14%
DXY Index
/quotes/zigman/1652083/delayed 96.33 -0.08 0.08%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.80 -0.01 0.01%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 0.00 0.08%
German 10y
/quotes/zigman/15866409/realtime 0.73 -0.06 7.14%
Italy 10yr
/quotes/zigman/15866497/realtime 1.92 -0.07 3.70%
Spain 10yr
/quotes/zigman/15866444/realtime 2.11 -0.04 1.85%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.80 -0.02 0.97%
Japan 10yr
/quotes/zigman/15866525/realtime 0.39 -0.01 1.69%
Crude Oil
/quotes/zigman/2331095/delayed 47 0 0.15%
Gold
/quotes/zigman/662444/delayed 1,125 0 0.00%
Corn
/quotes/zigman/7599553/delayed 361 0 0.07%
DJIA F
/quotes/zigman/38649152/delayed 16,282 -66 0.40%
S&P F
/quotes/zigman/30356461/delayed 1,939 -8 0.39%
Silver
/quotes/zigman/3134148/delayed 15 0 0.32%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 88.15 -1.74 -1.94%
AAPL /quotes/zigman/68270/composite 110.37 -1.97 -1.75%
GOOG /quotes/zigman/30194416/composite 606.25 -8.09 -1.32%
BAC /quotes/zigman/190927/composite 15.94 0.09 0.57%
C /quotes/zigman/5065548/composite 51.79 0.04 0.08%
F /quotes/zigman/264304/composite 13.84 -0.03 -0.22%
T /quotes/zigman/398198/composite 33.04 0.22 0.67%
BP /quotes/zigman/247026/composite 32.41 0.21 0.65%
GE /quotes/zigman/227468/composite 24.51 -0.06 -0.24%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
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  • /quotes/zigman/365296/composite PAY+0.58%
  • /quotes/zigman/7601800/composite JOY-14.60%
  • /quotes/zigman/346088/composite BGS+11.66%
X
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As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

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