A debit card may look like a credit card but, as the old saying goes, you can’t judge a book by its cover. Debit cards act very differently than credit cards, and make carrying cash seem like a thing of the past. If you aren’t in the habit of having your debit card with you wherever you go, then you should reconsider how you spend money. What’s so special about a debit card? And why is it better than cash or charge? Here are the benefits of carrying a debit card.
No interest or fees. When you used your debit card, you are virtually withdrawing money directly from your checking account. This means that, when you spend money on an item using your debit card, you are only spending the cost that item – not the cost of the item plus interest. And, more often than not, it doesn’t cost you anything to use a debit card – no set-up costs, monthly maintenance fees or annual fees.
Convenience over cash. Sorting through bills and counting change at the register while an impatient line forms behind you is a thing of the past now that you can check out with a simple swipe of your debit card. And forget the need for a wallet or heavy change purse. All you need is a safe pocket to slip your card into and you’re ready to go out and spend.
Easy qualifying. There are certain things that you just can’t do without a credit card. Purchasing something online and reserving accommodations over the telephone are just two of the many circumstances that require that you carry famous logos like Visa or Mastercard. Fortunately, because your debit card is linked directly to your checking account, there is no credit check and no qualifying process other than the checking account itself in order to get you into a debit card. That means that you have all of the purchasing power of a credit card, without the application and approval process.
Technology. Debit cards are accepted anywhere credit card payments are processed because they use the same technology. Whether you are picking up dinner at a drive-through or paying for groceries, you can present your debit card and rest assured that it will be accepted.
There are many reasons to carry and use a debit card. Some save you money, and some just save you time and effort. You benefit either way, so do yourself a favor and request a debit card from the institution you bank at today.
About the Author: Deborah Dera is a full-time writer with a passion for personal finance. She is the founder of Write on the Edge and specializes in offering unique content and PLR articles to online business owners and internet marketers.
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