Smart Money: 3 times to ditch using your debit card

You know the old trope about evil twins. They look like the hero, but they're diabolical. Well there's an evil twin in your wallet. It’s one that looks like your credit card, but is filled with hidden dangers. Jimmy Rhoades and CreditCards.com’s Matt Schulz are running down three times to ditch the debit card.

1.  Online Shopping

The biggest reason is that credit cards offer better fraud protection, but that's not the only advantage over debit cards. There are things like guaranteed returns where if you have something that you've meant to return, but you've held on for a long time, a lot of times you can send it back to your credit card issuer and they will give you a return on that.

2.  Big Purchases

Nearly 80 percent of cards offer extended warranties, which keeps money in your pocket. If you purchase with a credit card, you can say, "No thanks, I don't need that extended warranty, my credit card's got me covered.” You can also score a big discount on a big ticket item by using a new account. There are plenty of cards out there that will give you $100 or $150 cash back after you spend $500 in the first three months with that card.

3.  Gas Stations

Gas stations have been a real flashpoint for credit card fraud in the last few years because chip less pay-at-the-pump has vulnerability. They're more susceptible to these tools called skimmers that can read your magnetic strip, pull your information off and then a bad guy can use it somewhere else.

There's really only one time when you should use your debit card instead of your credit card and that’s at the ATM.

Share your credit card shopping secrets with us on our Facebook page, @TheListShowTV.

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