If you're like many people, you never have a wallet full of cash anymore. You pull out your debit card whenever you need something, from a video game to a computer to a can of Coke.
The main advantage of debit cards is that they give you immediate access to cash. Since they draw your money from your checking account, you never have to worry about paying fees for cash advances. Another big plus to debit cards is that you don't have to worry about bad credit since they're attached to your bank account. If you've had credit problems in the past, you might be afraid that you can't qualify for a traditional credit card. However, as long as you have money in your bank account, you'll be able to use your debit card anywhere you could use a credit card.
One of the great things about credit cards is that you don't use your own money. Of course, you have to pay the bills with your own money, but you still have leeway. Imagine that you had sudden car trouble that would cost $600 to repair. If you only have a debit card, you must have $600 in your bank account before paying the repair shop. This can be nearly impossible for some people who live paycheck to paycheck. And what if you need your car to go to work? Having to miss work certainly isn't going to help your money problems.
However, if you have a credit card with $600 available credit, you can charge your repairs and return to the road in no time. Even if you don't have the $600 in your pocket, you have at least thirty days to save it before your bill arrives. And that's if you want to pay in full. If it takes you a few months to save up the extra $600, you can pay a smaller amount to the credit card company each month until you've paid off your charge. You'll have to pay interest, but it can be a lifesaver for someone who can't get their hands on a large sum of money quickly.
It's quick and easy, and you can use a debit card everywhere you can use a credit card. So why should anyone bother going through the hassle of applying for a credit card anymore? But as we have seen above, there are instances whereby you may need both types of cards.
Thank you for reading and hope you have a good rest of the day!
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