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Advantages and Disadvantages of Using Debit Cards
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[QUOTE="Daisy1, post: 320688, member: 99567"] 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: [LIST=1] [*]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. [/LIST] Cons: [LIST=1] [*]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. [/LIST] [/QUOTE]
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Advantages and Disadvantages of Using Debit Cards
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