| For Immediate Release | CONTACT: | Holly Anderson, ext. 114 |
| April 13, 1998 | Tara Finck, ext. 116 | |
| (202) 835-3323 | ||
WASHINGTON, D. C. (April 13, 1998)...During this year's National Credit Education Week, the National Consumers League is urging consumers to learn more about debit cards. The cards look like credit cards, but rather than advancing cash for a purchase, take money directly from a users checking or savings account.
Debit cards are rapidly growing in popularity because they are faster to use than writing a check, safer than carrying large amounts of cash and provide monthly transaction records. Consumers can use their debit cards wherever the card's brand logo is displayed, including many gas stations, restaurants, grocery and retail stores.
Linda F. Golodner, president of the National Consumers League, says that learning about the new cards will enable consumers to use them wisely.
"There are two basic kinds of debit cards, those that require a signature and those that require a PIN number at the time of purchase," Golodner said in a radio feature on the subject that is being distributed nationwide during National Credit Education Week, April 13-19. "Consumers should determine which type of card best meets their needs. They should also find out if any fees apply."
Consumers who want more information about debit cards can call for a free brochure, published by the League with support from Visa, "Debit Cards: Beyond Cash and Checks." The brochure outlines facts to help educate consumers about the cards, including:
- Debit cards may be more readily accepted by merchants than checks, especially when a consumer is out-of-state or overseas.
- Using a debit card instead of writing checks saves you from showing identification or giving out personal information at the time of the transaction.
- The debit card is a quick, "pay now" product, giving you no grace period For a free copy of the brochure, call the National Consumers League, 202-835-3323 or click here.