With credit cards, it's the bank's money that's missing, not yours.
I know I prefer to only put the bank's money at risk, not my own.
It has no membership fee, I get 0.5% cashback which is free money, and one time a merchant failed to deliver an order and they gave me back my money within like 10 minutes of me raising a dispute
If I had used my debit card with my normal bank it would probably take a week to resolve, and I'd be the one out of pocket in the meantime
Why not?
” For debit card transactions, the Electronic Funds Transfer Act (EFTA) applies. While these laws offer some similar protections, knowing the differences is key to understanding why it's safer to use one type of plastic than the other... According to the EFTA, your potential liability for fraudulent debit card transactions is virtually unlimited. You have up to 60 days to report a lost or stolen card under the EFTA. After that, you simply lose whatever money was taken, even funds siphoned from linked accounts.”
That's of course still worse than not being out the money on a credit card, but it's not the dealbreaker many make it out to be, and could easily be amended by regulators if there was any interest in doing anything about the drag on the economy that are inflated card payment fees.
You mean the same regulators who just rescinded the cap on overdrafts?
And yes, regulations alone aren't enough, they also need to be enforced. That goes for both credit (Reg Z) and debit (Reg E), though.