How to Decide between Getting a Credit or Debit Card

How to Decide between Getting a Credit or
Debit Card. In this day and age, people use less paper,
and more plastic. But which kind of plastic is best for you? You will need Awareness of your spending habits
and knowledge of your credit history. Step 1. Ask yourself a few questions. What you want to use your credit or debit
card for? Is it for convenience? Do you want buyer’s insurance? Do you want to improve your credit score? Debit cards are easier to get approved for
than credit cards. Step 2. Gather all the information. Be sure to read about all charges and rules
on both credit and debit cards. Step 3. If you think you can pay off the balance in
full every month, choose a credit card. It helps you build a credit history, and there
are more perks, like rewards, cash back, travel and buyer’s insurance. You also get more protection if your information
is stolen or lost. Step 4. Choose a “no-fee” card with a zero percent
interest introductory rate. Read any pamphlets and updates that the company
sends, and pay your in full balance every single month. Step 5. Be honest with yourself. If you are prone to accruing debt, a debit
card is a good choice for debt deterrence, because they are directly linked to your checking
account, and you will incur a penalty immediately if you overdraw. Merchants will ask you if you’d like “credit”
or “debit.” Choose “credit” to avoid entering your PIN
number, which will protect you from identity theft. Step 6. If you think you want a debit card, read the
bank’s policies to see what penalties there are for exceeding your account balance. Remember – you’ll have to keep close track
of how much money is in your checking account. Now plunk your plastic with impunity! Did you know The first credit card was issued
in 1951 by Frank McNamara, founder of the “Diners Club,” for customers to use at restaurants
in New York.

4 comments on “How to Decide between Getting a Credit or Debit Card”

  1. triforcelink says:

    forget the credit card…

  2. FromThe3PointLine says:

    stolen id?

    time to get a credit card

  3. k_wrx_ says:

    1 Debit card – first priority plastic
    2 Credit cards – incase the debit is out of cash, and so if one credit don't work you have another.

  4. seygra20 says:

    Japan is a cash only country and when d banks close so do the atm

Leave a Reply

Your email address will not be published. Required fields are marked *