Americans who have both debit and credit cards may use them interchangeably when making everyday purchases, but experts warn that the protections they offer users are quite different, according to a report from Greensboro, North Carolina, television station WFMY. In general, purchases made with credit cards provide consumers with more protection, and funds are more easily recovered if those credit cards are used fraudulently.

However, experts note that because every credit card is different, it's important for cardholders to familiarize themselves with their agreements, the report said. Knowing what is and is not protected by each card issuer is key in understanding what actions consumers should take when they need to dispute account problems.

Another way consumers can protect their finances is by carefully monitoring their credit reports. By checking these documents, they may be able to items that weren't reported in accordance with applicable laws that may unfairly lower their credit scores. A credit repair attorney may be able to assist.