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Credit or debit card?

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Money Talk > Credit & Loans

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Anne Land
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I prefer the credit card and pay that off each month. However it does depend on how good you are at paying this off as it can balloon out of control in a very short time.
Post Tue May 15, 2012 2:53 am
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Stuart Mackenzie
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DC or CC - it's not a choice  Reply with quote  

In my opinion both are necessary. For smaller purchases Where there is little likelihood that the product will not be delivered I prefer to use my debit card but I would not pay for a holiday on my debit card because you have no comeback at all.
Post Wed May 16, 2012 9:43 am
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DarenBresnen
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It depends on your personal preferences.

With credit card, you're actually taking a loan from bank which you would have to pay back.

And with debit card, you're making payments out of the money you own.

So, it depends on one's choice which one to take.
Post Fri Sep 07, 2012 11:21 am
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WisdomF
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In my humble opinion, it depends to your preference whether credit card or debit card.

Credit Card - There are a lots of benefits of using credit cards like airplane air miles points, cash back, special insurance (from some banks), discount from accredited stores, rewards, useful during emergency cases and many more. It is wise to have at least 1 credit card.

Debit Card - Using without debt and no interest. It is safer to carry debit card rather than cash especially if we are purchasing items that cost a large sum of money.
Post Sat Sep 15, 2012 2:03 am
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bitcointomoneypak
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debit for me  Reply with quote  

i tend to prefer debit cards. But credit cards can be very useful sometimes!
Post Tue Nov 18, 2014 4:27 am
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Offshore-Wealth.com
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Pay off credit cards, and don't make the mistake I did when I decided to dump all my credit cards. You cannot rent a car in many places without a credit card, and debit cards are refused, so beware, always keep on credit card, but pay it off every month to avoid the high interest rate theft by these banks. Insane to carry balance when they charge 10% to 24% which is a total ripoff considering banks access funds from fed reserve at near zero interest.

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Post Thu Nov 20, 2014 11:03 pm
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losangelescpa
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It depends if credit card is better or debit card. credit cards offer more consumer protection on purchases made. Use credit cards for very large or fragile purchases and for objects that will be delivered to your home after the purchase. This gives you added insurance in case the purchase is damaged in route. On the other hand for debit card fraud, your liability is $50 if you notify the bank within two days of noticing the fraudulent charges. After two days, your liability increases to $500, and up to your entire account balance after 60 days. See more : losangelescpa(dot)org
Post Mon Jan 05, 2015 9:46 am
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littleroc02us
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quote:
Originally posted by losangelescpa
It depends if credit card is better or debit card. credit cards offer more consumer protection on purchases made. Use credit cards for very large or fragile purchases and for objects that will be delivered to your home after the purchase. This gives you added insurance in case the purchase is damaged in route. On the other hand for debit card fraud, your liability is $50 if you notify the bank within two days of noticing the fraudulent charges. After two days, your liability increases to $500, and up to your entire account balance after 60 days. See more : losangelescpa(dot)org


Your wrong about this. Go to Visa's zero liability website and you'll see the facts. http://usa.visa.com/merchants/protect-your-business/zero-liability/index.jsp

Debit cards and credit cards have the same protection. So long as you call your bank within so many days they verify the charges are fraud and we'll reimburse your money back into your account. If your lazy and don't check your account very often, then you could have issues. I recently had fraud charges, where someone stole my business visa debit and within two days the money was back into my account after I called the bank.

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Wed Jan 07, 2015 3:54 pm
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stomarpro
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I have both. I use my debit card to pay bills. I find it easier to pay random monthly expenses with a credit card. Then, I pay the bill in full each month in order not to incur finance charges. The debit card satisfies one set of needs. The credit card assists with increasing my credit score.
Post Sat Jan 10, 2015 11:30 pm
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stomarpro
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[You cannot rent a car with a debit card.
Must be a "credit card".]

You can rent a car with a debit card. However, the rental company will debit your bank account X amount of money until you return the car. It used to be $500.00. It might be more now.[/quote]
Post Sat Jan 10, 2015 11:42 pm
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Offshore-Wealth.com
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quote:
Originally posted by stomarpro
[You cannot rent a car with a debit card.
Must be a "credit card".]

You can rent a car with a debit card. However, the rental company will debit your bank account X amount of money until you return the car. It used to be $500.00. It might be more now.
[/quote]

Agreed, some might, but Hertz and Avis didn't at the time at airport, and when you read the fine print, it says credit cards only, they wouldn't even take cash, so again, better to have one credit card just in case, some small airports don't have all rental companies offered. I did find that Enterprise takes my debit card, but I have special membership with them, so I don't know if that makes the difference or not. Better not to get stuck at airport like I did several years ago when I made mistake of dumping all credit cards.

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Post Sun Jan 11, 2015 9:37 pm
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