Re: [tlug] A Linux branded credit card

[Kenneth Burling <burlingk@example.com>]

On Sat, Aug 1, 2009 at 12:33 AM, Stephen J. Turnbull<stephen@example.com> wrote:
> Edward Middleton writes:
>
>  > Credit cards can be a dangerous if you aren't good at paying them off at
>  > the end of the month.  Unfortunately they are the one method that is
>  > almost universally accepted for online purchases.
>
> There is a cool idea that came up about 30 years ago, which is the
> a debit card that is linked to the VISA payments system.  This really
> only makes sense for the bank if the bank is Bank of America, though
> (anybody else here old enough to remember what the original name of
> VISA was?)
>
> For Americans the scary part is that since it's a debit card, you're
> not protected by laws that limit your liability in the case of a lost
> or stolen card.  But (for the internet and phone shopping) they've
> figured out a way around that: one-shot VISA accounts with a credit
> limit you choose (up to the money in your account, of course).
>

Actually, most American banks now offer a check card.  :-)

A check card is a debit card with the Visa or Mastercard Logo.  It
works just like a credit card at the merchants end, but is charged to
your bank account instead.

Also, since they ARE linked through Visa or Mastercard, you ARE
protected in most cases of theft as long as you report it right away.