this post was submitted on 23 Oct 2023
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Debit card > credit card. You want to know how much money you have when you spend it and not realize later, that you didn't have the money so now you are indebted to the CC company.
debit cards usually lack the buyer protection that credit cards offer. just treat your credit cards like an old-school charge card that got paid off every month
yeah cc are the best but you need to treat them like its a debit card. I actualy have to call regularly to get my maximums lowered. They love to set them real high but I don't want them larger than what I earn in a month which is still to high given its not like I could spend that whole amount given the stuff that you have to pay every month not on cc and I have more than one. You definately cannot charge till you get rejected from hitting the limit.
While I agree with you on the second point, I don't believe debit cards are better than credit cards for several reasons. The main one is that credit cards offer better fraud protection. Say your debit card gets stolen, they can clean out your entire bank account and suddenly you have no money. It will take time for the bank to reverse these charges, meanwhile you have no way to buy necessities. With credit it's not your money and the credit card companies are insured and deal with this stuff daily. You also still have money in your bank account.
You absolutely have to be careful with credit though, especially if you aren't good at budgeting. It's not free money, but if you can use it responsibly you can take advantage of the credit card perks, like cash back.
Debit cards can be frozen and charges can be reversed. I've done this before. You're just advertising for credit card companies at this point. I don't wanna have to pay interest on my purchases, thanks.
I'm agreeing with you
I've had my debit card compromised and had absolutely no issues getting the charges reversed
Also as an aside, because my credit union debit card is a MasterCard, I get all of the "credit card benefits" such as the extended warranty and fraud protection. Regardless of the fact it's associated with a debit account
Credit unions all the way
I've never paid interest on a credit card, and if you pay off the balance each month you won't either.
So... what's the point? If you're just gonna pay it off as if it were a debit card? It's just debit with extra steps. Doing that will even harm your credit rating.