Credit Card vs. Debit Card
I know this isn’t health related, but it’s a very important issue. I think of it as our money health.
It’s funny, but I always tell my husband not to use his debit card. He tells me he feels more comfortable using it so he doesn’t have to worry about bills coming in.
Hmmmm . . . I try to explain that whether you spend $10 today or put it on a credit card and pay when due, you are still spending only $10.
Well, it seems that while it’s not the same reasoning, it is wise to use a credit card rather than a debit card in many situations.
This is from today’s Yahoo News:
“Debit cards have different protections and uses. Sometimes they’re not the best choice.
Sometimes reaching for your wallet is like a multiple choice test: How do you really want to pay?
While credit cards and debit cards may look almost identical, not all plastic is the same.
‘It’s important that consumers understand the difference between a debit card and a credit card,’ says John Breyault, director of the Fraud Center for the National Consumers League, a Washington, D.C.-based advocacy group.
”There’s a difference in how the transactions are processed and the protections offered to consumers when they use them.’
While debit cards and credit cards each have advantages, each is also better suited to certain situations. And since a debit card is a direct line to your bank account, there are places where it can be wise to avoid handing it over — if for no other reason than complete peace of mind.
Here are 10 places and situations where it can pay to leave that debit card in your wallet:”
Check out the rest of this informative article:
Until next time,
Karen Cioffi