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+--- Thread: Debit or Credit Card (/thread-118.html)
Debit or Credit Card - KellyGeo - 03-13-2018
I'm wondering in taking care of ones expenses and budget, are you more likely to use debit cards to access your funds already in the bank or make use of your credit card and use your credit line?
My credit card are for emergency reasons only, handling my other expenses and budget are financed using my debit card because the interest that comes with credit card usage isn't something I would like to incur for myself on daily basis.
Debit or Credit Card - Anachiwo - 03-13-2018
Using the credit card for virtually every expenses one has is abuse of the credit card. It doesn't bode well for the credit card user to abuse it in this form as it would only mean more debt for the card user because of the interest that comes with using the credit card.
I'm more comfortable using my already saved money to take care of my day to day expenses by using my debit card. This way, I'm sure of not getting any interest rate from using the my money in my bank account.
Debit or Credit Card - Heatman - 03-13-2018
Depending on the situation of things is what would determine if I'm to make use of my debit or credit card for my expenses. There are some expenses that require to be paid using a credit card, in fact in the event of traveling and hotel bookings most hotels accept only credit card to cover for the expenses, and those that ask for cash or using debit cards would require more deposit for security purposes. But generally, it's a lot more safer in my opinion to use debit cards more often than using the credit cards.
Debit or Credit Card - KellyGeo - 03-14-2018
[quote quote=1102]Using the credit card for virtually every expenses one has is abuse of the credit card. It doesn’t bode well for the credit card user to abuse it in this form as it would only mean more debt for the card user because of the interest that comes with using the credit card.
I’m more comfortable using my already saved money to take care of my day to day expenses by using my debit card. This way, I’m sure of not getting any interest rate from using the my money in my bank account.[/quote]
The interest rate of using credit card is why I had difficulty in making up my mind with getting one on time. I know myself very well to be frenzy with spending when I have the cash with me and having a credit card would only encourage this by getting my debt rising.
Debit or Credit Card - Emmaz - 03-15-2018
A country's running economy goes a long way in determining the kind of card that is allowed for people to use in taking care of their business transactions and personal needs as well. If you happen to be in a country that runs a cashless economy, you will definitely find it hard to see anyone with cash or debit cards but only credit card.
I have a friend who is in Malaysia, he actually told me that virtually everything they buy are paid for using credit cards. I'm not really a fan of credit cards and it's actually the reason why I'm yet to apply for anyone at my bank because of the interest that comes for using the credit card for payments. Debit card is more convenient and comfortable for me because I spend within my earning and savings rate using a debit card.
Debit or Credit Card - neiledles - 03-15-2018
I agree that using debit card will keep you away from debt. However, it won't save you in case of trouble. There are several instances I have encountered where I don't have cash in hand and I'm on a place without an ATM. Me and my partner is on a travel that time and i ran out of money. We need cash for the hotel where we can stay for the night and yes, credit card saved the day. If i'm holding a debit card during that time then we're done. Only reminders I can share when using credit card is first, track your expenses. Remember that you will soon pay all the purchase you made from credit card. Second, pay using cash as much as possible. Why use debit/credit card if you have cash. You'll be on a safer side using cash.
Debit or Credit Card - ElGuapo123 - 03-15-2018
Well it absolutely depends on what exactly do you need. Elaborate on that and then we can go deeper into your dilemma. But anyway, i would still advise you to get a debit card. It's just so universal and good for every situation, there are no bad sides with debit card, you just cannot go wrong.
Debit or Credit Card - KellyGeo - 03-16-2018
[quote quote=1102]Using the credit card for virtually every expenses one has is abuse of the credit card. It doesn’t bode well for the credit card user to abuse it in this form as it would only mean more debt for the card user because of the interest that comes with using the credit card.
I’m more comfortable using my already saved money to take care of my day to day expenses by using my debit card. This way, I’m sure of not getting any interest rate from using the my money in my bank account.[/quote]
A lot of people don't really know how to use credit cards, they just use it like debit cards without knowing there is a big difference between the two cards. It's when the credit card is debts start staring them at the face for excessive use of the card in paying for everything that they would be like what have they gotten themselves into.
Debit or Credit Card - maklein - 03-16-2018
Well I think for me it's nice to have a credit card for emergency purposes only. However sometimes when we have some impulses we tend to use our credit card once we ran out of cash. That's why if you can't control yourself with impulse buying and stuff just stick to debit card. At least when you know you're running out of cash from your debit card you'll be able to stop and won't worry about the interest as well.
Debit or Credit Card - Jamella18 - 03-16-2018
For me both of them are good if you know how to use them properly and with discipline. I remember the first time I used my credit card, I was so excited that I already max out my credit limit within two months resulting a burden to me whenever I received my billings. But it was a lesson learned, I now preferred to use my debit card so that no billing will ever come to me again, its just living within my means. I use only credit card if I will going to purchase things that will help me generate my income.