Debit Cards: A Better Choice Over Credit Cards

Discussion in Credit Cards started by Kaushik Angara • Dec 7, 2016.

  1. Kaushik Angara

    Kaushik AngaraActive Member

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    I personally feel that Debit cards are a lot better than Credit cards for the following reasons:
    • There is no limit for usage(Credit cards have a pre-defined money usage like up to 40000 rupees a month).
    • Debit cards, I feel carry more security measures(like a PIN, account holder's name, expiry date, and a digital verification prior to usage).
    • Even if we lose our Debit card, unless the person knows our PIN, he cannot use it. With credit cards, it becomes very risky and they can be swiped and used.
    However, Debit cards here in India, cannot be used for International transactions and we are forced to use Credit cards for International transactions. The usage of the Debit and Credit cards might be different in different countries, so the points I have mentioned here pertain only to India.

    Feel free to share your experiences using Credit and Debit cards in your country.
     
  2. Binu

    BinuActive Member

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    I don't have credit cards, I use debit cards. When you are using credit cards, you tend to be spendthrift, you are always buying products or service when ever you want. On the other hand when you are using debit cards, you will be spending wisely and buy things and services that you actually want. Debit card saves a lot of money.
     
  3. Nakitakona

    NakitakonaActive Member

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    I don't have a credit card but I have a debit card. In the first place, I am afraid to have a credit card. Though I am not fond of making credit for anything I want from electronic gadgets to household appliances. I would rather get them via installment payment by paying them in cash rather that on credit card. Imagine there is high or exorbitant interest rate for a delinquent payment via credit card. Anyway, I was obliged to get a debit card for my online job which I receive a penny for doing it. PayPal so requires it. I use debit card to receive payment.
     
  4. Decentlady

    DecentladyActive Member

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    @Kaushik Angara@Kaushik Angara Likewise, I prefer debit card over credit card for the simple reason of being in debt with the later. For that single reason, I try to avoid debts at any cost.
     
    #4Dec 7, 2016
    Last edited by a moderator: Dec 12, 2016
  5. tonyb

    tonybActive Member

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    Except where I am looking to save some money to meet up a project I wouldn't go for a credit card. One main advantage a debit card have that I am fine with is the unlimited usage. You enjoy many purchases with the card base on how much you are able to load up.
     
  6. to7update

    to7updateActive Member

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    I always use my debit card because it makes no sense for me to buy credit. If I don't have money, I don't buy it. So yes, debit cards are better because we are dealing with the reality and not with virtual money we might not have, so we don't get ourselves in trouble for spending what we don't have.
     
  7. Ray1

    Ray1Well-Known Member

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    For me yes, I mostly use my debit card because it helps me keep my expenditure under control but I use my credit card only when must. Like there are certain good schemes that offer you additional advantage provided you use your credit card. I take those advantage but make sure that I pay in time otherwise those advantages will turn into disadvantage.
    by the way you can use certain debit cards internationally if your bank allows you to use them overseas.
     
  8. Beast_Titan

    Beast_TitanActive Member

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    I pay my utility bills online with my debit card and it saves me a lot of money because I don't need to drive to a payment center just to pay my water bill or internet bill. That saves me a lot of oil on my tank because I don't need to leave home to do such task.

    @Decentlady@Decentlady What I love about debit cards is the fact that you know your limits. You won't end up over spending because that is what credit cards do to people.
     
  9. to7update

    to7updateActive Member

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    I don't have any expenses with payments, as I can do them directly by bank debit, at the ATM machine or at my online bank, but the regular way I do it is at the ATM machines, as it prints the paper saying I paid and I file everything, so I am done with my bills. No way I would pay my bills with credit card!
     
  10. luckycharm

    luckycharmActive Member

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    I prefer debit cards to credit cards obviously because that way I can put some control on my spending. As a debit card is directly linked to my bank account balance I can't buy more than I have in my account. Nowadays in our country use of digital currency is being recommended by Government. There is also a shortage of currency notes here and this forces people to deal with digital money which is really good.

    I used be an extensive credit card user and I always end up spending above my budget. But while using debit card I becomes more cautious of my bank balance.
     
  11. Jessika

    JessikaActive Member

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    Over here both credit cards and debit cards are either chip-and-pin or contactless. I'm not fond of the later due to security issues, since money can be taken off the card very easily and card collision where two cards are charged for the same purchase can happen.

    I tend to use my credit card but keep a check and pay it back at the end of the month. It gives better payment protection and a chargeback facility if a service or item I paid for isn't satisfactory. It is also a cashback card, so I get 1% of my spend back. As long as I don't carry a balance I make money.
     
  12. to7update

    to7updateActive Member

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    Contactless credit cards are not still common where I live, and I find them to be dangerous, as for some reason I imagine they are easy to hack. Maybe I am just watching too much TV haha, but I still prefer my old chip debit cards, I pay the bills with the money I have and that's it. ;)