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Debit or Credit?

Debit or Credit?  

55 members have voted

  1. 1. Which one is more the rock?!

    • Debit
      46
    • Credit
      9


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if your debit card is a visa or mastercard, then it behaves like one online, as long as you have the funds in your account. think in terms of secured vs unsecured debt. unsecured debt requires interest or rent on the money used, secured (debit) uses your bank account as the source of the funding. You are charged a fee, annually or monthly for either. The advantage to a debit card, in my opinion, is that you can only spend what you have in your account, keeping long term debt down.

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So a debit card doesn't involve any interest at all?

 

And I can make online payments using both types of cards?

 

usually online payments require credit card, but if they have the option of paying with PayPal, you can connect your account to your debit card.

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many bank cards have either visa or mc associated with them, at least here in US, and will behave for many purchases (from amazon for instance) as credit cards although they are really bank cards... i think it has to do with the payment pathway rather than the type of debt being obtained...

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So a debit card doesn't involve any interest at all?

 

And I can make online payments using both types of cards?

 

your debit card gives you access to money that is already yours unlike the credit which is basically letting you borrow money from another source which you pay back. There are no interest charges with debit cards. From my experience an ordinary debit card doesn't work onlne (as in typing the card details in because it misses some of the information on it) but you I think you can ask your bank for a card that is linked to your debit account that you can use online. I have a current account so I got a cheque card that looks exactly like a credit and I can use it for online payments.

 

Alternatively you can ask for a credit card that is linked to your debit account and you can put money into and use that so you're spending your money rather than borrowing and then paying back.

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So a debit card doesn't involve any interest at all?

 

And I can make online payments using both types of cards?

Most current accounts pay no interest so a debit card doesn't involve interest.

 

Most online payments accept both debit and credit cards. I use a debit card for a majority of my online purchases.

 

And as I said, with a credit card if you pay back on time you pay no extra money so no interest.

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your debit card gives you access to money that is already yours unlike the credit which is basically letting you borrow money from another source which you pay back. There are no interest charges with debit cards. From my experience an ordinary debit card doesn't work onlne (as in typing the card details in because it misses some of the information on it) but you I think you can ask your bank for a card that is linked to your debit account that you can use online. I have a current account so I got a cheque card that looks exactly like a credit and I can use it for online payments.

 

Alternatively you can ask for a credit card that is linked to your debit account and you can put money into and use that so you're spending your money rather than borrowing and then paying back.

 

Really? :hmm:

 

I've never had a problem paying for things online with my debit card, I do have a paypal account but I only use that for eBay, for everything else I enter my card details and it always works (I have a visa debit card)

 

And I'm with everyone else, debit > credit, don't spend money you don't have

 

I guess it wouldn't hurt to have a credit card that's for emergencies only although getting your hands on money today fast isn't really an issue, you can have it wired to you from a family member/friend in an instant, you can even text money to people now!

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Really? :hmm:

 

I've never had a problem paying for things online with my debit card, I do have a paypal account but I only use that for eBay, for everything else I enter my card details and it always works (I have a visa debit card)

 

And I'm with everyone else, debit > credit, don't spend money you don't have

 

I guess it wouldn't hurt to have a credit card that's for emergencies only although getting your hands on money today fast isn't really an issue, you can have it wired to you from a family member/friend in an instant, you can even text money to people now!

Yeah. I've had a visa debit and mastercard debit and couldn't use either of them online. They were missing the CVV numbers on the back I think. I can't be sure if it was that but I know the cards were missing some piece of information that was necessary for online purchases. I couldn't even link my paypal to the debit card either. But with my cheque card, which is basically the same thing, I can. Maybe its just a South African thing :/

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