What is Debit Card & why it is preferable to Credit card ?

A debit card (also known as a bank card or check card) is a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money comes directly from the user’s bank account when using a debit card.
Here are five reasons why a debit card may be preferable mode of payment
• Debit cards offer more security.
• Credit cards let you rack up debt- Sticking to a debit card means you’ll always be using your own money and not the money of a credit card company. This often prevents you from making many unnecessary purchases.
• You can barely tell credit and debit cards apart from each other- Debit cards can be used to book airplane tickets, buy appliances, pay for meals, you name it. They are simply credit cards for your own money.
• Debit cards offer more savings options.
• Debit cards protect your financial reputation.

Leave a Reply

Your email address will not be published. Required fields are marked *