Debit cards have become a modern day necessity in recent years. Not having one in your wallet is like living in the in the past which was depicted in yesterdays commercial on the television. In one scene people were queuing up at the cashiers and moving on after paying. The scene then changes where everything stops, the sky turns grey and the sun sets. An old lady pulls out her check book and when she starts writing her check the surrounding changes into the 1980s. I have put together 5 reasons why you should have debit cards in cased you are still living in the past like the old lady in the advertisement.
1. Ever experience stranded in the middle of nowhere with no cash at hand to even buy food? Having a debit card gives you the power to purchase anything almost everywhere. These days, every fast food outlet and takeaway places in town have the convenience of debit card payment. All you have to do is order your meal then swipe your plastic and off you go. You could even withdraw some cash at the same time just so that you dont get into the same predicament with an empty wallet again. Now this is something that credit card cant do. Most places even charge extra or demands you purchase a particular amount before letting you charge on credit.
3. Most banks offer their debit card holders with an online account as well. This means that you get to check your transaction almost anytime at anywhere to your convenience. Debit card transaction details appear almost immediately a day after your purchase. There are no surprises to where your money goes as you will now have a detailed trail to all your transactions. These days some banks also offer guarantee on internet transactions and online purchases just like credit cards.
3. Reduces purchases made on the spur of the moment. Remember that a debit card removes the money from your account immediately. This keeps you grounded as far as your spending goes. After all, you cant spend what you aint got, right? NOTE: even if there is a credit card logo in the corner of your debit card, it can be used in places that accept credit cards, but it is STILL a debit card. So buy now, pay now.
4. Prepaid debit cards are gaining in popularity. These do NOT require a bank account. They are like those PAYG (pay as you go) phone cards. You get a card and load it with money. When the money is all used, the card can no longer be used. Simple, isnt it? This is a very easy way for business owners to pay freelancers or vendors. Even payroll can be made with debit cards
5. Molds your spending habits and helps you to live within your means. Credit cards can get you to spend money you really dont have to spend. Dont believe me? Just do a search for credit repair companies and see what comes back. A debit card is the exact opposite of that. You can only spend what you have available. Plus there is no worry of a monthly payment or interest.
There are other good reasons to own a debit card, but the ones here are the best we can think of. Of course, before you do anything of a financial nature, be sure you know the good and the bad. Also ask the institution about reporting and record keeping as well as delays in processing. - 21511
1. Ever experience stranded in the middle of nowhere with no cash at hand to even buy food? Having a debit card gives you the power to purchase anything almost everywhere. These days, every fast food outlet and takeaway places in town have the convenience of debit card payment. All you have to do is order your meal then swipe your plastic and off you go. You could even withdraw some cash at the same time just so that you dont get into the same predicament with an empty wallet again. Now this is something that credit card cant do. Most places even charge extra or demands you purchase a particular amount before letting you charge on credit.
3. Most banks offer their debit card holders with an online account as well. This means that you get to check your transaction almost anytime at anywhere to your convenience. Debit card transaction details appear almost immediately a day after your purchase. There are no surprises to where your money goes as you will now have a detailed trail to all your transactions. These days some banks also offer guarantee on internet transactions and online purchases just like credit cards.
3. Reduces purchases made on the spur of the moment. Remember that a debit card removes the money from your account immediately. This keeps you grounded as far as your spending goes. After all, you cant spend what you aint got, right? NOTE: even if there is a credit card logo in the corner of your debit card, it can be used in places that accept credit cards, but it is STILL a debit card. So buy now, pay now.
4. Prepaid debit cards are gaining in popularity. These do NOT require a bank account. They are like those PAYG (pay as you go) phone cards. You get a card and load it with money. When the money is all used, the card can no longer be used. Simple, isnt it? This is a very easy way for business owners to pay freelancers or vendors. Even payroll can be made with debit cards
5. Molds your spending habits and helps you to live within your means. Credit cards can get you to spend money you really dont have to spend. Dont believe me? Just do a search for credit repair companies and see what comes back. A debit card is the exact opposite of that. You can only spend what you have available. Plus there is no worry of a monthly payment or interest.
There are other good reasons to own a debit card, but the ones here are the best we can think of. Of course, before you do anything of a financial nature, be sure you know the good and the bad. Also ask the institution about reporting and record keeping as well as delays in processing. - 21511
About the Author:
Debbie Robbyns blogs in Personal Finance 2009. Drop by her website for practical and simple to pickup personal finance tips for your everyday lives.
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