Debit cards

We all want the convenience that a credit card offers; pay for bills over the phone, shop on the internet, make hotel reservations from the comfort of your room, pay at places where personal checks are not accepted, and all other benefits. Although these benefits are great, they often blind people to the risk that comes with a credit card. This risk is caused by the illusion that a credit card creates. Most people forget they don’t actually own the money they are spending. However, we are forced to realize this when the end of the month comes and we must pay this huge bill, or face it becoming debt.

This is often the starting point for the numerous benefits of a debit card. Debit cards can instill financial discipline that credit cards, in most cases, destroy. With a debit card, all your purchases and expenses are directly deducted from your checking account.

So, your expenditures are always limited to what the money in your checking account can cover. If you don’t get it; the primary advantage of this arrangement is that you don’t get haunted, by purchases or other financial decisions you made in the past. You might get broke after an uncontrolled spending spree, but you won’t be expected to pay the debts and the neck breaking interest months after you make that mistake.

In essence, debit cards bring you all the conveniences that come with a credit card. You can use a debit card anywhere a credit card is accepted and you will never have to worry about debt or interest.

The only downside is a debit card will not allow you to build your credit history.A debit card provides all the benefits of a credit card but do not come with the risk so if you are afraid of goiing into debt, a debit card may be the solution for you.

There are a lot of offers for debit cards around the interent so do research and find the best credit card types for you.