We rarely use cash and instead we use our debit cards for everyday purchases. We still have one credit card (that we pay in full a few days after using) for internet and recurring charges. I like to have everything electronic, but something that happened today (well, yesterday now) gave me the creeps.
I returned an item to Walmart today and the woman asked if I wanted the credit back on my card. I said yes. I was ready to get my card out of my wallet when all of a sudden I noticed the receipt for the refund printing.
Wait a minute…you mean my card information is stored within that barcode on the receipt? Maybe I’m over reacting, but that freaked me out. I’ve always had to present my card for refunds. Walmart having my card information stored on the receipt like that makes me very uncomfortable.
My particular debit card does have a protection policy on it for unauthorized charges. I have read that it could take days to straighten everything out and get funds put back in an account if something like that happened. That would be devistating to me with the automatic drafts I have. I get chills just thinking about it.
In the past, I’ve briefly thought about only using our one credit card for all purchases so we can receive cash back bonuses. I decided against it because I was concerned that our spending could get out of hand. I think I may revisit that decision and see if there is a way we could make it work. Or perhaps I could look into other alternatives.