Christmas Debit Card Blunders

1)  'Authorization holds' can lead to overdraft.

For example if you use debit at a hotel, the processor can hold 2x the purchase amount for up to 30 days after you check out. Gas stations can do the same thing where 2x of your gas purchase is "authorization held"

Overdraft fees can rack up quickly.

2)  Online merchants should never get your debit infomation.

Disputing bogus charges on debit is very difficult. US laws clearly protect you when you get ripped off with borrowed money (Credit Billing Act and Truth-in-Lending don't address debit cards as cash). When your cash gets ripped off (i.e. a debit transaction) you're at the mercy of the card agreement / merchant)

3)  First time liar program. Select "credit" vs 'debit' at checkout when using your debit card.

4) Thieves steal PINs most during January and they get them from debit transactions in December. Credit card debt makes you do horrible things so protect your PIN.

5)  Scrooge up and tally everything. Track debit purchases with your checkbook or transaction recorder

6) Dedicate a credit card to be a stand-in debit during the holidays.

If you have a zero balance credit card, use it as you would your debit. Go online and transfer debit account money to pay the credit bill after purchases.

Wallah, your credit card just turned into a debit. Perhaps a New Years resolution should be to auto pay credit cards directly from your checking account.

Christmas is expensive enough without paying banks extra fees.