Credit Card Comparison

All About Debits Cards part 2

Should I use a credit card or a debit card?

Both credit cards and debit cards offer a good deal of benefits and convenience. Which you should choose depends on your spending habits, lifestyle and your financial goals. Most people benefit from using both.

Debit cards are convenient because they are widely accepted and you only spend the money you have. Because you use a secret pin number to verify the transaction, you don’t have to show identification when you pay with a debit card. Also, there is no interest charged on purchases you make with a debit card.

Credit cards are beneficial because using them responsibly boosts your overall credit score. The major credit card types are accepted virtually everywhere, so a credit card is the only form of payment you need in most situations. Some credit cards allow you to earn rewards, such as frequent flyer miles, when you make purchases. Credit cards also provide you with excellent fraud protection in the event that your card is lost or stolen.

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