PHILADELPHIA (CBS) – Tis the shopping season so, if you’re trying to decide whether to use the credit card or the debit card, here are some tips.:

With what should you shop – a credit card with a high spending limit or a debit card that links to your own account? What happens if you lose that debit card?

Susan Herbst-Murphy with the payment card center at the Federal Reserve Bank of Philadelphia says don’t worry:

“You have the same protections under Regulation E whether it’s a debit or a credit card. The inconvenience factor can be different.”

She says with a credit card, a fraudulent charge is removed; but with a debit card, it may take you a few days to get your money back:

“So most banks will have limitations as to how much can be accessed within a particular day or within a particular time period.”

She recommends checking your account regularly:

“If they think that there’s fraud they can do a fraud hold on your account and prevent other transactions.”

(Kuznits:) “Is that going to effect you when you have to shop and you’re busy and you have to use your card?”

“It could. It depends and those are things that you want to consult with your bank about.”

And protect your debit and your credit cards:

“Don’t leave them laying around on your desk at work or anywhere where the number or any information from that can be copied.”

Reported By Hadas Kuznits, KYW Newsradio

Watch & Listen LIVE