Comment by LeafItAlone

You’re definitely correct in how credit cards work, but I’d like to make one wording change:

> Contrast debit cards and banks, where all charges on your debit card come into contact with your own personal money immediately. Banks don't have a vested interest because it's your money on the line, not their's, so they won't be nearly as enthusiastic about fighting fraud on your behalf.

The credit card issuer may be a bank and for most new credit card holders, there’s a decent chance it is their main bank (e.g. BoA and Chase in the United States have many credit card products).

Also, with debit cards, the federal Electronic Fund Transfer Act does limit liability for the card holder.

Source: https://www.federalreserve.gov/boarddocs/caletters/2008/0807...