Daisy1
New member
People believe it is safer to use a debit card instead of a credit card. However, debit cards do not always come with advantages, there are also disadvantages as well.
Pros:
Pros:
- Direct access to funds: Debit cards provide direct access to funds in a linked checking account.
- No interest charges: Debit cards do not have interest charges, so you only spend what you have.
- No credit check required: Debit cards do not require a credit check, making them accessible to everyone.
- Fraud protection: Some banks offer fraud protection for unauthorized transactions.
- Limited fraud protection: Debit card fraud protection may be limited compared to credit cards.
- Overdraft fees: Debit cards can result in overdraft fees if there are insufficient funds in the linked checking account.
- No rewards: Debit cards do not offer rewards or benefits like credit cards.
- No building credit: Debit card usage does not help build credit history or credit score.