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Credit or debit card?

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Money Talk > Credit & Loans

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richardray
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It depends upon how careful you are with your card and why you are using the card.
Post Mon Jul 25, 2011 1:22 pm
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keshavmish
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When choosing a card there are many to choose from and each of them are different have different features that you need to be aware of. If you choose to get a debit card, know that it is a plastic card that is linked to an account and is used to pay for purchases. In many ways it is considered a cash form of payment as anything you buy is immediately withdrawn from your account in an instant. Whatever financial records that card is affiliated with, that will be the place from which the money is drawn immediately.

Now, if you choose a credit card, this is also a plastic card like the debit, however this is a bit different because it does not draw from a well of immediate funds but rather works in a debt like function as it relies on money coming in from a credit card company. It takes the money from that company and the card user than pays it back later on in the form of a statement or bill. There is an interest rate associated with it as well. This is helpful because the user may make larger withdrawals than what is immediately in the bank account but this can result in high amounts of debt that can accumulate if the person is not keeping careful track of their spending records.

Another card is the pre-paid credit card. This one offers the same benefits of a credit card processing Services, but there is no risk of going into debt since it is already pre deposited into the bank by the user and then that money is taken care of and accounted for in advance. The card user can then use it for any purchases but must remember to refill their account.
Post Wed Aug 17, 2011 1:08 pm
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Daniel221
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Re: Credit or debit card?  Reply with quote  

quote:
Originally posted by bulldogbetter
Which is better?

what do you want ? It's up to you.
Post Thu Aug 18, 2011 10:31 pm
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hermans25
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Both are different things it depend upon you if you want to get a loan approval you must need to repair your credit history.
Post Thu Sep 29, 2011 6:22 am
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globaldoc2001
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Here is the point. With credit cards, it serves as an identification as well, and you do not have to pay immediately since it is a credit. It means someone pays it for you first. After which, you will eventually have to pay up. The security for this is better since you will still have the time to hold back the money and fight for an investigation. For a debit card, the money is already there with them.

Business Tax Filing
Debt Consolidation Companies
Post Thu Sep 29, 2011 1:03 pm
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globaldoc2001
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Credit cards will be a good tool for an individual if he is capable of paying on time. However, it is the meanest poison to somebody who takes advantage of its credit policy without having the ability to pay on time. The interest rate is going to bury him alive.

Business Tax Filing
Debt Consolidation Companies
Post Fri Sep 30, 2011 11:00 am
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tanyroy5
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hey that a really nice update on this...
Post Mon Mar 26, 2012 7:49 am
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tanyroy5
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thanks for sharing the information..
Post Mon Mar 26, 2012 7:51 am
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dorothy456
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I think both are the Necessary things both has his own vales.........
Post Sat May 05, 2012 8:16 am
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jerryjose
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But I will say credit card is better  Reply with quote  

credit card and debit card, which is better. With debit card you can withdraw money from your bank account through an ATM and can make purchase and payments with the money lying in your bank accounts.

But with credit card you can do all these things without have a bank balance. But you must be careful so that purchase and payments must not be more than the limit and pay all credit card bill in time. Unless you have to pay hefty penalty and interest.

If you use credit car wisely, credit card is better. I am using my credit card than my debit card. But keep tracking regularly
Post Fri May 11, 2012 2:48 am
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Luis Orlando
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For most people, using both a debit card and credit card makes sense. The key is not to spend more than you have with either. If you can do that, you’ll be able to enjoy the benefits that each provide.
Post Sun May 13, 2012 8:29 pm
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