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| | Check Cards Demystified
Answers to the Credit vs. Debit Question
You know that your KSFCU VISA® Check Card can be used at thousands of fee-free ATMs to access your account, get cash, or make a deposit. And you probably know you can use your VISA® Check Card at many retail stores to make purchases and get cash back. But you may not know what to do when you have the option to choose “debit” or “credit” while making a purchase. Here are the benefits of each choice:
When you choose the “Credit” option, you:
Can purchase up to your available account balance.
Must sign for your purchase.
Elect not to receive cash back.
Have the funds deducted from your KSFCU Checking account.
Have stronger return rights – if a merchant refuses to refund your money, you may have chargeback rights from VISA®.
Protect yourself, because you don’t have to enter a Personal Identification Number (PIN) for identification.
Help your Credit Union save on costs.
When you choose the “Debit” option, you:
Can purchase up to your available account balance (cash-back is limited).
Must enter your PIN.
Have the funds deducted from your KSFCU Checking account.
Must exercise caution when entering your PIN.
The “debit” option is more expensive for your credit union to process.
In general, unless you need to receive cash back, choosing the “credit” option is the more economical and financially sound way to use your VISA® Check Card.
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