[dlubarov]

To be clear though, if the issuer doesn't impose its own limitations on cardholders' liability, there are still limitations based on Federal laws, and these are different for credit and debit cards. For credit cards it's a simple "liability shall not exceed $50" rule. For debit cards it depends; it can be unlimited in the case of "failure of the consumer to report within sixty days".

So it's safest to just avoid debit cards, unless you know that the issuer has their own legally-binding limits on cardholder liability.