Re:Robinhood Accounts Looted, No Customer Support
by TylerE on Saturday October 10, 2020 @12:00AM
(#24736600)
The distinction is this.
Your card gets stolen.
Scammer empties out the account.
With a credit card, transactions against the card will get declined after it maxes out (if the fraud checks don't kick in sooner). You report the theft. Everything solves itself quickly. A minor inconvenience at worst.
When your debit card gets stolen, that's YOUR money going out, then your rent check bounces, and it takes weeks to get the money back, and in the meantime, YOU HAVE NO MONEY.
Your card gets stolen.
Scammer empties out the account.
With a credit card, transactions against the card will get declined after it maxes out (if the fraud checks don't kick in sooner). You report the theft. Everything solves itself quickly. A minor inconvenience at worst.
When your debit card gets stolen, that's YOUR money going out, then your rent check bounces, and it takes weeks to get the money back, and in the meantime, YOU HAVE NO MONEY.