Debit or Credit Card

[chameli]

I am not a fan of using a credit card. In fact, I have never used a credit card. I always use a debit card and use my debit card if I have to make card payments. I don't use a credit card because if you are using the credit card you cannot control your spending. You will be spending up to the maximum limit. However, if you have a debit card you can only spend what's in your account.

[blakfinn]

Well spoken folks,a credit card should only be used in emergencies so as not to rack up bills one may shed tears later for as he grudgingly pays back.
Debit cards forces one to live within his means and helps one to discipline himself.
Unless one is compelled by the system to operate a credit card I don't see the reason to use it regularly.

[JackOAT]

For me debit card, aside from they usually have few or no fees of any kind, debit card draws on money the user already has. And most of us know that people usually spend more using credit cards than if they were paying cash. Debit cards protect the frugal from fees and ensure that less disciplined spenders stay within their means.

[Lord Saru]

For the sake of future financial security, I also ways debit cards. The problem with credit cards are that people who use credit cards tends to use them without any control and at the end of the month, they find it very difficult to pay the bills back. However, in case of debit cards, we can control the way we spend as well as how and on what we spend because of a very clear spending limit.

To add to the bonus of having debit card is that - you would want to save some amount of money. In case of credit cards, by the end of the month, you are left paying your bills and not having anything to save which is quite a unhappy situation to find yourselves in, at least according to me

[Martinsx]

When it comes to choosing between a credit card and debit card, I would always go for the latter being the debit card for the obvious reason of not wanting to end up getting into credit card debts. I wouldn't deny it's a good feeling to use money that you haven't worked for already, it gives one a sense of security because you can literally take care of all your needs with just having one credit card.

The problem with credit card usage is failing to meet up and pay the card debts as and at when due. This gives you a bad credit reputation which makes it impossible for you to get any form of financial aid from any lending institution. But if you are dealing with your debit card, you are rest assured that whatever you are spending is what you already worked for.

[Mallymoth]

I use my debit card for everyday expenses, but there are certain things I relegate to my credit card. Putting one or two small, regular bills on the credit card and then paying the balance was how I built up my credit score as a young adult. Depending on where you live, in this day and age not having a credit history means taking a risk. Credit cards are fine and helpful as long as you don't miss a payment and keep the balance under control.

[Heatman]

[quote quote=1529]For me debit card, aside from they usually have few or no fees of any kind, debit card draws on money the user already has. And most of us know that people usually spend more using credit cards than if they were paying cash. Debit cards protect the frugal from fees and ensure that less disciplined spenders stay within their means.[/quote]

This is exactly what I feel about the use of debit and credit card. Debit card usage makes one to operate within his or her own financial limit and definitely cannot exceed or abuse the card usage. But when it's credit card usage, simply because one gets to spend with the credit line provided by the card without having to pay first, there is every possibility of going off the rails with the spending and getting into a serious financial crisis.

[Anurag M]

Well in my opinion, Debit card would be the preferable choice for daily use as it will keep you away from debts. Besides, I have noticed, once you start using a credit card, you become used to it and this causes problems if you don't keep a record for the items you buy using the credit card. You will end up with large amount of bill at a moment when you don't have enough money in your account. And most of the bank charges a high rate of interest and late fine for credit cards.

If you keep your records and know how much you should use your credit card per month and proceed in a planned way, there are lots of benefits to it as well. You can go for the items that can be bought in the terms of EMI with zero interest. Even if they charge some interest, it would be preferable for many users as they won't have one bill with a large amount. You go for the offers websites and bank provides with credit cards, for example movie tickets. If they have redeemable point option, use them whenever you need it.

[Flannagan]

I've never had a credit card because I know i'd abuse it and get into debt and like to keep control of my finances and using a debit card seems the easiest way to do so.

[JayM]

I only use debit card though plenty of my friends tempt me to use credit card. I have heard that credit card is not good and better not to use it as it may give you more interest for the coming months especially if you forget just in few days in paying your credit. In my own opinion I'd rather use my debit because I can always check my balance and easily monitored my remaining money. In debit card I can always use it in many ways like paying bills online and over the counter without any hesitation of being overpaid or will stress you out of interest unlike credits.