Credit or debit?

Discussion in Credit Cards started by JulianWilliams • Jan 13, 2015.

  1. DiscountDreams

    DiscountDreamsActive Member

    Joined:
    Apr 2, 2016
    Threads:
    2
    Messages:
    126
    Likes Received:
    18
    I prefer credit cards and to just pay them off right away. I've gotten like $300 worth of free stuff in the last 7 years or so, so not much, but it's $300 more worth of stuff than I would have had otherwise and I always keep a 0 balance, ya'll ain't milkin me for a damn penny. I am the reason you have to pay more interest
     
  2. remnant

    remnantActive Member

    Joined:
    Feb 23, 2016
    Threads:
    237
    Messages:
    929
    Likes Received:
    204
    I have never applied for a credit card. I only have debit cards. Though both require discipline with regard to spending habits, debit cards are easier to control ones' spending within limits. Credit cards charge higher fees than debit cards which charge uniformly irrespective of the amount one intends to withdraw. It is not easy to have reasonable savings with credit cards especially when one goes to big stores. Bargains and deals would be the last thing on ones' mind.
     
  3. NickJonathan98

    NickJonathan98Member

    Joined:
    May 4, 2016
    Threads:
    1
    Messages:
    39
    Likes Received:
    6
    Hello! It all depends on what kind of purchases and what kind of rewards/features you want to get. I actually prefer having both debit and credit card while using them for different reasons.

    For example, I will use a debit card for purchasing at a grocery store or a supermarket.
    On the other hand, I would use a credit card to purchase something that costs a lot (e.g. a TV or Mac or whatever else above $1000) and make sure I split the amount into monthly low or non-interest payments.

    This way I can control how much I spend on less expensive stuff without going in debt as well as make sure I don't spend too much at once for something expensive.
     
  4. explorerx7

    explorerx7Active Member

    Joined:
    Jan 18, 2016
    Threads:
    59
    Messages:
    768
    Likes Received:
    116
    I have graduated from the usage of credit card. I have gone a very rough time with a credit card I previously had where it had reached a stage where I was been very stressed to keep up the payments, therefore, there is no way I will ever get into that situation again. I have a debit card and I am quite satisfied with the services it has to offer and at least I will be protected from the stress I had encountered with the credit card, there won't be the temptation to rack up expenses which I may not be able to manage.
     
  5. TungstenCube

    TungstenCubeNew Member

    Joined:
    May 12, 2016
    Threads:
    0
    Messages:
    15
    Likes Received:
    0
    Always use credit so you can dispute transactions that come about from fraudulent purchases. It's incredibly hard to dispute debit transactions that you didn't place, but credit card companies are really good about getting rid of fraud. Additionally, you can accumulate points that can be very valuable for travel, cash back, etc. I would highly recommend taking another look at credit cards if you dont currently use them.
     
  6. Onionman

    OnionmanActive Member

    Joined:
    Nov 10, 2014
    Threads:
    13
    Messages:
    443
    Likes Received:
    44
    Credit cards can have a role if you're able to use them wisely. It's all about being able to make the most of credit available to you. But as a general rule, I prefer a debit card. That way you've got a better sense of where you stand with your money and you will be less likely to abuse your financial situation.
     
  7. Vinicius Souza

    Vinicius SouzaMember

    Joined:
    Oct 23, 2016
    Threads:
    3
    Messages:
    85
    Likes Received:
    9
    Depends, I have used debit when my shoppings do not pass a determined value ( in Brazilian currency). Otherwise, I use credit ( expensive shopping).
     
  8. Vinaya

    VinayaActive Member

    Joined:
    Jun 22, 2016
    Threads:
    20
    Messages:
    401
    Likes Received:
    63
    I have always used a debit card. By using debit card I can control my spending (I will always spend from my balance). If I had a credit card I would be spending credit balance which I would have to return to the credit card issuer. But then there are also benefits of using a credit card, buying something even though you don't have money. Therefore, I am thinking to get a credit card.
     
  9. Nakitakona

    NakitakonaActive Member

    Joined:
    Oct 12, 2016
    Threads:
    22
    Messages:
    895
    Likes Received:
    153
    Both credit and debit card have their own advantages and disadvantages. In credit card, you purchase anything you want on credit without paying a cent and you will pay it later. While in debit card, you cannot make a purchases when you available money balance is not sufficient to pay them. In making purchases, credit card is better. As to its risk, debit card is safe than credit card which charges too much interest for the purchases made if unable to pay its monthly installment payment. Anyway, I would prefer to have a debit card rather than a credit card as far as interest rate is concerned.
     
  10. Jamille

    JamilleActive Member

    Joined:
    Oct 6, 2016
    Threads:
    11
    Messages:
    727
    Likes Received:
    109
    If you can discipline yourself to handle credit cards, then they're good to have on your side. I use my credit cards for the rewards they offer. I don't get charged monthly interests on my purchases because I pay the bill in full. Meantime, I'm accumulating points that I can use to buy small appliances or pay off my annual fees. I am not interested in a debit card because I want my money to be in a place where it earns interest. Hence, I only pay my credit card bill near due date. Credit cards are also handy during emergencies that require money that you don't currently have.
     
  11. ptahm22

    ptahm22Active Member

    Joined:
    Dec 8, 2016
    Threads:
    29
    Messages:
    168
    Likes Received:
    17
    I use both the debit card and the credit card. In my view, they complement each other. The credit card is universally recognized. Saving to buy stuff is also an alternative but these cards have changed how we can acquire some items especially when they are urgent.