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Debit Vs Credit Card


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If given a choice by your credit union (avoid for-profit-banks, go with credit unions), choose a fee free credit card over a debit card. Debit cards draw directly from your money, and if pilfered can wipe you out; whereas, credit cards you are usually limited to a $50 loss if reported right away.

Credit cards also cover you in case you have a dispute...We were able to avoid a several thousand dollar loss on a trip when the cruise line went bankrupt right after 9/11. Had we paid by debit card, it would have been our loss. Thanks, American Express !
- Submitted by 10PCTSOLUTION 5/31/2010 in Saving Money | 3 Comments
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Member Comments

BONSAU100 6/1/2010 12:33:00 AM

    Most debit cards are now Visa or MasterCard and carry the same protection as a credit card for fraudulent use. Verify at Terms and Conditions. When you use credit cards, be aware that most people spend more money when it's credit than when it's debit. Check out
ARAPP31 6/1/2010 5:54:00 PM

    When it comes to Debit VS Credit! When you use a Debit Card it is your money from checking/savings. When you use Credit you are spending money you don't have or don't have yet. You are spending before you have earned or received the money. Just food for thought! emoticon
FISHKNEES 5/31/2010 9:15:00 PM

    I did not know this before...Thanks emoticon

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