we were talking about this in school and I want to know what you like better
2006-09-20 10:54:22 · 23 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Neither... CASH FOR EVERYTHING
2006-09-20 10:55:39 · answer #1 · answered by ? 3 · 0⤊ 1⤋
Debit cards are much easier to handle. You can only spend what's there, leaving you worry free about having to pay it back in the future. Some cards have features that send a percentage to a savings account, which make me feel like I'm making some effort towards putting away money.
The other benefit of debit cards comes when needing a credit card number, especially for things on the internet or buying over the phone. Some companies, such as insurance or on-line rental business, require you to have a credit card number. The debit card has this feature, but automaticly takes out the payments from your account, rather than billing you and having you handle the payment.
Credit cards are not free money, which is what some people consider them as. You have to repay not only what you spend, but also the interest that accumulates until you do pay it off.
2006-09-20 11:04:16 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I like debit cards better. Credit cards promote the spending of money you do not have. This is why most Americans are in tremendous debt. and it is also the reason for the recent legislation that allows credit card companies to dramatically increase interest rates for individuals unable to pay the minimum balance or who pay their balances late. This legislation dramatically impacts persons on fixed incomes whom have retired or are disabled. How exactly does this help the economy? I have no idea but it will now be more difficult for people to file bankruptcy meaning the credit card companies will have Americans by the balls for years to come.
Debit cards make people manage their money.
2006-09-20 11:02:54 · answer #3 · answered by datingyoungincali 2 · 0⤊ 0⤋
Credit Card...I forget sometimes to make a note of what I used the debit card for so I lose track..with a credit card I get a monthly statement so I know exactly what's what.
2006-09-20 11:02:23 · answer #4 · answered by Saskia M 4 · 0⤊ 0⤋
I prefer to use a debit card. It easier than carrying cash around because I lose cash. My older mother on the other hand prefers cash. I still carry cash because some stores do not take cards yet.
You do have some protection with a debit card. If the debit card has a Visa or MasterCard symbol on it. You are also protected by their zero liability policy.
2006-09-21 02:28:58 · answer #5 · answered by webworm90 4 · 0⤊ 0⤋
Either way. You can use most debit cards to make credit purchases, you'll just have to sign the reciept instead of entering a pin. But I think it really depends on the person. I prefer using credit cards, then I just pay my bill when it comes every month.
2006-09-20 11:02:40 · answer #6 · answered by jamieinreno 3 · 0⤊ 0⤋
Debit Cards are better, cause your spending your own money, with Credit Cards it's not your money till you pay it back and if you don't due it soon enough then you got interest to pay. Plus if your not too care full you could go into dome nasty debt with Credit Cards and paying hundreds more back on interest then you wanted or needed too.
2006-09-20 11:00:25 · answer #7 · answered by HotTherapist 2 · 2⤊ 0⤋
I have no problem with neither of them,,, though I have friends who said the debit card completely screws up their checkbook for they get confused. Well I highly DOUBT the debit card is screwing up and that the fault lies with the people.
I am happy with my credit card now, but I did have a "Capital One" credit card and had to tell them where to get off ...Let me advise you against EVER getting a "Capital One" card ! Do not do business with them or any subsidiary of them... you will have nothing but problems !
Good Luck ! : )
2006-09-20 11:57:37 · answer #8 · answered by Kitty 6 · 0⤊ 0⤋
Debit cards...i'm 23 and have luckily never had to own a credit card. i hate cash...debit card might as well be cash, just in a nice small plastic card
2006-09-20 11:02:57 · answer #9 · answered by strwrs7772000 3 · 1⤊ 0⤋
they are two diff types for a reason. i think of it as you can spend money with debit and save money with credit(if you set yourself up right). by opening a credit card you can start to build credit if you stay on top of your bills. what i do is set up for automatic bill payment. this will take out money from your banking account each month on a specific date(you can tailor it to your needs to take out a certain amount or just the minimum). this way you build your credit score by paying on time, dont pay the hefty interest, and "save money" by not paying any more than you need to. after you build up credit you can apply for "better" cards that offer money or a percentage back on your total bill. hope this helps
2006-09-20 11:08:50 · answer #10 · answered by liveityourway 1 · 0⤊ 0⤋
Debit card. That way I don't have to worry about a bill coming in the mail.
2006-09-20 10:56:10 · answer #11 · answered by Jen G 6 · 3⤊ 0⤋