Comments on: Debit vs. credit cards

By: Sebastian

Sebastian — Mon, 16 Oct 2006 23:53:05 +0000

That’s why I like charge cards (like American Express), they work like Credit Cards, have the same kind of protection, and you’re pretty much forced to pay off the entire balance every month, unless you specifically request to pay it off over a period of time. I have switched from using my debit card for almost everything (large purchases excluded) to using the AmEx Gold, it comes with rewards, and does have some perks that makes the annual fee worth it (discounts on lots of things). It just takes discipline to remember that while your balance in your bank stays high for an entire month, you do have to pay everything you accumulated at the end of that month.

By: Wealthy Geek

Wealthy Geek — Mon, 16 Oct 2006 20:55:52 +0000

Most people now use their credit cards just as often, if not more often, than their debit cards. They justify this by citing the “rewards” programs card companies offer. But can you really put a price tag on going into so much debt? Actually, you can: it’s called the interest rate! Seriously, here’s a tip: always keep your debit card physically on top of your credit card in your wallet. You’ll be more tempted to use it that way. The rest is just common sense: Use your credit card for things like online purchases and securing hotels and car rentals, and pay the bill as soon as it arrives. Otherwise, use your debit card. Why spend money you’re not sure you have?

By: Clifford

Clifford — Mon, 16 Oct 2006 13:36:55 +0000

I used my debit card exclusively until I noticed my bank was charging me fees for it on the back end. Almost $1.50 per debit charge. When I switched over to the Visa Debit card, that went away and I’m grateful for it!