Wednesday, September 12, 2007

"The Dark Secrets of Debit" (Consumer Reports.Org)

The September issue of Consumer Reports details what we have long been warning, that banks try to force consumers to get debit cards, but use it as a credit card.

Click here to view the entire story about "why do banks push debit cards for every purchase you make? Because they stand to make millions--largely at your expense..."

"Debit rewards: More glitter than gold."

According to Consumer Reports, "a Visa Extras roundtrip airline ticket from the U.S. to Europe would require 200,000 points--or $400,000 worth of spending on those debit cards for a ticket with a value capped at $1,100."

[Source, via Sept issue of Consumer Reports.Org]