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Play Your Cards - Using Debit Versus Credit

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Real Estate Agent with 972.978.3109 0595204

Debit versus Credit - Which card to pay? What is the difference? DFWAshley Ashley Cox, Dallas City Center RealtorSometimes Credit Cards are the Best Way to Pay… and sometimes it’s smarter to Debit

Credit and Debit cards both have benefits and drawbacks. So, how do you decide when to swipe each type of card?

The way you handle your money is a matter of personal preference. If you like using cash, credit or debit for everything, that’s great! Stick with what works for you. But, if you’re wondering which type of plastic makes the most sense in different situations, check out these tips to find out when and where to choose credit versus debit.

Online Shopping - CREDIT

In 2014, nearly $800 million was reported lost to internet fraud - with an average loss of over $6,000 per victim! 

Most credit card issuers don’t hold you responsible for lost funds if your information is stolen, but your debit card is linked to you bank account - which gives thieves direct access to your money, now.

Everyday Purchases - DEBIT

According to a study, people spend 47% more at McDonald’s when they use a credit card. 

It may be easier to control your spending if you use a debit, and the money comes directly out of your bank account.

Electronics - CREDIT

Some credit cards provide extended warranties, additional property insurance, and conflict dispute rights. 

Just be sure to pay your entire balance each month so that new television, smartphone or laptop doesn’t wind up costing you twice as much with interest charges.

Restaurants and Nightlife - CREDIT

In 2009, 13% of all credit card hacking crimes involved the restaurant and bar industry.

Any time your card leaves your hands, it’s an opportunity for theft. Credit tends to protect.

Need Cash-Back? - DEBIT

Many retailers allow you to get cash back without paying ATM fees when you use your debit at checkout. This is a handy way to get your hands on some cash for a valet, when you don’t have an ATM nearby.

Memberships - CREDIT

If recurring charges accidentally continue after you cancel your membership, your credit care issuer can deny payments on your behalf. 

Tell your issuer as soon as you realize you’ve been charged for services you aren’t receiving.

Souvenirs - DEBIT

For best exchange rates when traveling abroad, hit the ATM and use cash for smaller purchases.

Just check with your bank beforehand to find out if they charge fees for foreign transactions or have a relationship with a foreign banking institution before take-off.

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DFWAshley, Ashley Cox, Dallas Realtor (972) 978-3109

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Ashley Cox is a Realtor® with Dallas City Center Realtors and strives to provide excellent service and assistance to Buyers and Sellers in the Dallas/Fort Worth Metroplex.

Buy | Sell | Rent  - call/txt (972) 978-3109

Comments (2)

Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    When I subscribe to a service, or buy something that might "renew" without my approval, I use throw-away Debit Cards.  That way, the company or service cannot automatically charge my Bank Card or Credit Card again the next month... because the balance on the throw-away card is now zero.. 

     Yes, the cards cost a few bucks each, but it provides me a level of security. 

Jun 18, 2015 07:27 AM
Robert Vegas Bob Swetz
Las Vegas, NV

Hello Ashley ... interesting post and VB loves Fred's comment 

Jun 20, 2015 05:51 AM