The choice between a credit and debit card depends on a number of factors, but security is a major consideration. The main risks associated with debit cards are identity, ATM, online, and in-person fraud. Credit card fraud also occurs. Last year, consumer data was stolen from the databases of the online giant eBay, prompting MasterCard and Visa to double their efforts and enhance consumer protection. Both debit and credit cards will come complete with microchips that are more difficult to replicate than magnetic strips. In fact, it is close to impossible to copy a chip card, whether debit or credit. In-store transactions are safe for customers, but online transactions pose some risks. Unfortunately, online fraud is still a concern.
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