When you use your debit card, the machine will usually ask you to select credit or debit. You may think your choice doesn’t matter – both will take money directly out of your bank account – but your choice can potentially affect you.
Some merchants will make their card machines automatically process your card as a debit transaction (it benefits them). If you don’t see the option for credit, ask the cashier if you can use your card as credit instead. You’ll then be able to access the following benefits…
Most Important: Fraud Protection
Keying in your PIN makes your card more vulnerable to fraud. You lose the protection of the credit card company and it can take longer to get your money back (and you may not be able to get it all back).
If you’re an Aspire member, signing for purchases gives you MasterCard Zero Liability protection. Whether you use your card in stores, on your phone or online, you won’t be held responsible for fraudulent charges. See this page for more details on their program.
Bonus: Warranties, Price Protection & Satisfaction Guarantee
The MasterCard debit card also comes with the following benefits:
- For qualified purchases, the manufacturer’s warranty is doubled for up to one additional year.
- If you find a cheaper price for a purchase you made within 60 days, you may be able to receive the difference.
- If you’re not satisfied with a purchase and the store won’t accept a return, you may be eligible for a refund up to $250.
All you need to do is swipe and sign to get these benefits!
Bonus: Help Your Credit Union!
Last but not least, signing for purchases will help your credit union. And when credit unions profit, members benefit through lower loan rates and higher rates on savings accounts.