The Pros And Cons Of Debit Cards

Debit Cards The Pros and Cons of Debit Cards Tip! World wide acceptability: Most free prepaid debit cards are accepted at locations and shopping outlets which display the logo of the debit card company. However there may be some places and shops where which your free prepaid debit card may not be accepted. A number of years ago, while slowly paying off a multitude of credit card bills, my husband and I realized the damage that credit cards can do. Although at the time we weren't in a position to pay off our debt quickly, we vowed that we would never again purchase anything that we couldn't pay for outright with the exception, perhaps, of a car or house. So we cancelled and cut up whatever credit cards we still had, and jumped off the credit card bandwagon. It was soon thereafter that we discovered the problem of not having a credit card. I would get to my lunch hour at work, realize that I'd forgotten to take out cash, and there would be no ATM to be found. I'd go to Wal-Mart to fill a prescription and realize that not only didn't I have enough cash, but I'd forgotten my checkbook. Then there was the problem of reserving a hotel room, or purchasing concert tickets over the phone, or ordering online. With no credit card, I was just plain out of luck. Let's face it. We live in an age of electronics. Gone are the days of when wallets were stuffed with the actual green stuff. Even checks are getting to be a thing of the past. This is an age of credit or, well, debit. I first discovered the marvels of a debit card not long after my husband and I made that grand decision to forgo credit. We changed banks, and were offered a debit card with the VISA logo. My husband and I exchanged a brief look, shrugged, and signed up for our first debit card. Tip! You can use a prepaid debit card to send money to your loved ones abroad or to your college age children away at school. Some debit cards allow you to have two cards for one account and in this case you will be able to keep one for yourself and send the second to your loved one. It was the best thing we ever could have done. Suddenly it didn't matter if I didn't have cash or my check book. Anywhere that accepted VISA would accept my debit card, and the best part was that it came right out of our checking account. There was no interest to pay and the fees were reasonable. Well, mostly no fees. Many people rely on credit cards and are prepared to use them responsibly, often saving them for emergency use only. But for those of us who don't want the responsibility (and the risk) that comes with a credit card, then the debit card is the way to go. It allows you the convenience of a credit card. I can make purchases online or over the phone, reserve a hotel room, and pay at places that don't accept personal checks. I can do all this without sacrificing the vows I made to avoid credit. Tip! Prepaid debit cards helps you control your spending habits, because in most cases you cannot spend over the amount you have in your account. There are cons to using debit cards. It's easy to forget to log purchases, making it difficult to balance a checking account. Sometimes, too, a debit card is too convenient and with no actual green stuff changing hands, it's easy to overspend. The big con is that, for those with damaged credit, a debit card isn't doing anything to rebuild your credit. Still, over the last few years, my husband and I have managed to free ourselves completely from credit card debt, and I would never go back. In the end, the choice between debit and credit is a personal decision. For my family, debit was the way to go. I may still overspend, and I may be broke after I make a purchase on my debit card, but it's not going to come back to haunt me three months later, and with interest to boot. For anyone who's proved irresponsible with a credit card, or for someone who just doesn't believe in spending what they don't have, a debit card is the way to go. Lisa is an author on http://www.Writing.Com/ which is a site for Fiction Writing. Tip! Value added services: Your free prepaid debit card company should give you different value added services like sending your statements online or through the mail to your home or office. Some prepaid debit cards also notify you about the salary credited to your account, on your cell phone itself. Get Free Web Site Content From ArticleBuilder.net		More Articles Articles Description Site Map Reward Credit Cards Get The Best Rewards Card Incentive Pro Instant Approval Credit Cards Online Are They Safe And Se 0 Balance Transfer Credit Cards Too Good To Be True The Many Flavors Of Rewards Credit Cards Keep College Student Credit Cards Under Control Credit Card Debt Could You Cope With A Rise In Interest Ra Credit Card Debt Some Remedies Balance Transfer Credit Cards And Their Rewards Low Interest Rate Credit Cards How To Save Money On Your N     Search This Site
Related Products And FREE Videos
Copyright © 2007, All Rights Reserved