When To Use a Debit Card And When You Should Go For Credit Cards: Debit Card Vs Credit Cards

When To Use a Debit Card And When You Should Go For Credit Cards: Debit Card Vs Credit Cards

Now a day the most payment options preferred are using debit cards, the credit cards, prepaid cards, m wallets, etc.. But people don’t know when to use these two cards credit and debit a card which is preferred one to get more benefits.

1) Consumer behavior

If you are making some unnecessary expenditure and to avoid this spendthrift you can use a debit card as it found to be the safer option. It will allow you to spend only the money as much as you have in the savings account, as you will spend immediately and done with it. If you are a responsible person to pay the monthly bills on the correct time and you know judiciously how to use the credit card means you can use this card.

2) Associated benefits

You can have a grip on your expenses by having a credit card. More benefits are loaded with your credit card such as reward points, loyalty and your credit card is linked to in addition to cash back and discounts I retail, e-commerce, travel, electronic retail, etc. In addition to that joining, the bonus is also available too. Credit cards are used by the people for frequent flyer miles that can be accumulated. People who are interested to get more reward points and learn more about the benefits of credit cards as a great payment mode.

3) Type of purchase

If you are going to shopping for the small establishments, there you have to use the debit card and credit card can be saved for the more expensive purchases so that your account is not debited of a large amount at one shot. During the vacations to foreign, the credit cards are preferred as there is stricter monitoring of the fraud and for bookings, credit card only accepted in many countries.

4) Safety against fraud                                                                

In India, both the credit card and the debit card is safe to use and also transaction is validated by the authentication. The only drawback of using a debit card is a fraudster will clean your account completely before arising alarm. If this happens to your credit card, you can get the chargeback.EMI cards are available nowadays on both the credit card and the debit card. As both the cards are giving benefits which are very useful. If you haven’t used the credit card wisely means you could have the bad score and have to pay late payment fees and interests. And for the debit card, you have to maintain enough balance by which you can spend.

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