Read through this article:
http://www.creditcards.com/credit-card-news/debit-or-credit-differences-1271.php
Answer these questions:
- What is the major difference between credit and debit?
- What are some advantages of Credit cards?
- What are some advantages of Debit Cards?
- Which do you think is better for your own personal use? Why?
For credit cards the credit cards pay it upfront and you pay the credit card companies. Debit cards it comes directly from your bank account. With credit cards you can buy things you don't have money for. Advantages of debit cards is you can't overdraft for money you don't have. I think debit cards are better b/c you shouldn't buy things you dont have money for in the first place.
ReplyDeleteDebit cards come from money that you already have. By using a credit card you may be using money that you do not have and its pretty much like taking out a loan. Credit cards are good because you can spend money that you do not have at that moment. Also because they help ur credit score if you keep them paid off. Debit cards are good because you cant go into debt with them. I think that debit cards are better because you do not go into debt.
ReplyDeleteWith credit you pretty much take a loan out and pay for the product later with interest, but with debit you buy it directly and don't have to pay it later and have no interest. Credit cards allow you to get a better credit score so you can take out large loans to buy things such as houses or new cars. Debit cards are good because you pay for what you want right away without having to pay interest on it. I have a debit card and I think it's better because I know I'm not going over my spending limit. I know exactly how much money I can spend and I don't have to pay interest on what I buy either.
ReplyDeleteDebit is money you already have that you can use a card to pay for things. Credit is money you will have to pay off later. Advantages of credit: You don't have to pay right away. you can just forget about it until later. Advantages of Debit cards: you don't have to worry about debt. I think Debit cards are better for personal use. Its spending the money you already have and you don't have to worry about going into debt. If you run out of money, you can just put more in later. If you sign up for credit cards, it gets to be too much of a hassle to keep up with your debt and payments. Why not just deal with it right away? Use your debit card. keep your checkbook balanced. that's all you have to do.
ReplyDeleteA debit card withdraws money from a bank account while a credit card creates a loan. A credit card is like pay later instead of pay now like a debit card. Some advantages of debit cards are that you pay now and do not have other bills and rates like a credit card does. It can limit purchases since it is linked to your account. It may also be good for those that have a debt load so that it can help them stay responsible. Many places do not charge for debit card transactions. Some advantages of credit cards is that consumers without debt burden can get up to 40 days free float instead of paying immediately and consumers do not have to pay money in a dispute. Credit cards offer greater protection and more options to withholding payments. The card more fitting for me is a debit card. I don't really buy a lot of expensive stuff so it is just easier if I pay for it then instead of put it on my credit card. Either way, my dad helps me manage both of my cards so I don't have to worry about overdraft or going over my credit card limit.
ReplyDeleteWith a credit card you use the card and then that money that you spend builds up on a bill and then you pay it after you've spent it. Debit cards are linked to checking accounts so the money is already on the card. Some advantages with credit cards is that you don't have to have the money with you or on your card you can just put it on your credit card and pay later. Some advantages of a debit card is that that you have to have the money to spend it. It is more like real money. You can't get into debit card debt because you can't spend money that you don't have on the card. I think that debit cards are better than credit cards for personal use because you are actually paying with money and you can't get into trouble with it. Also, you don't have to pay interest on money you spend with you debit card.
ReplyDeleteMost people prefer to use debit cards to credit cards. They feel like debit cards are more like real money. Debit cards make the same value of in store purchase that cash does. More and more people are using debit cards. Also they can be used as a form of online payment. Debit card payments come out of checking accounds immediatly, and can limit items cardholders are able to pay for unlike credit cards. Also debit cards do not charge for transactions. Credit cards offer greater protection. You have options to withhold payments. I think that debit cards are better because with credit cards you can but things that you can't afford.
ReplyDeleteA credit card allows a person to make purchases without paying cash. It gives consumers access to loans at all times without having to apply for them. A debit card doesn’t provide a loan. It is a cashless purchases easier by enabling customer to transfer funds electronically. To some people, debit feels like more money. With debit cards, you don't have to worry about payments and interest rates because it comes directly out of your account. An advantage of a credit card is that
ReplyDeleteWith a credit card, you have the option of withholding payment should you be unsatisfied with the quality of a purchase. But when paying by debit card, there is a good chance the merchant already has your money by the time you realize something is wrong with the purchase. With a credit card, you can withold a payment on something you think you may be dissatisfied with. With a debit card, the transaction was probably already made before something goes wrong. Some debit cards hold a maximum daily purchase so using a credit card may be best. I have a debit card and I like using it because it's like having cash without having cash. I think it's easier than having to worry about paying the bill later because it just comes out of your account right away. You just have to know how much money is in your account.
The difference between hte 2 is that with a debit card it comes right out of your checking account, rather than borrowing the money such as credit cards. Debit cards are growing more popular because of their advantages, as easy to use as a credit card, no bills to worry about, no lingering credit card debt. there also isnt any interest rates or charges when you use a debit card. I think that a credit card would be better for me because i would use it more sparingly then a debit card because if you know you have to pay a bill at the end of the month i will try to keep that bill smaller.
ReplyDelete- What is the major difference between credit and debit?
ReplyDeleteA debit card gives you the money that you have to spend and you have a limit that you are not suppose to go over and if you do there are overdraft fees. a credit card you can buy whatever you want no matter the price, and you will pay interest if you don't pay it off right away. i think that debit cards are much better.
- What are some advantages of Credit cards?
You Can buy anything you want/ need even if you don't have the money in your account at that time.
- What are some advantages of Debit Cards?
You won't overspend on anything, and it makes you think rationally about what you want and need before you make the decision.
- Which do you think is better for your own personal use? Why
I think that debit cards are better because they make you use your head before going through with some purchase.
A debit card is a card that allows you to make purchases without having cash, but yet it's still your 'real money'. With a credit card, you are making purchases that you'll pay off later. Advantages of a credit card would have to be that you don't need to have the money at that moment, even though it'd be a good idea to have it. Credit cards are also pretty much accepted everywhere, while debit cards are relitively new and sometimes arent. Advantages of a debit card would be that you don't need to worry about debt piling up on you. ANd you are spending your own money, so you don't need to worry about payments. I would say that debit cards are better for my own sake. Just because i would be spending my own money. But, credit cards are good for building up your credit as well.
ReplyDeleteThe major difference between a credit and a debit card is that a debit card doesn't have interest and comes right out a of checking account, where as a credit card collects interest. A debit card is when you are spending the money that you have and not borrowed money. And debit cards can have a set limit on howm uch money can be spent unlike credit cards. Advantages to a credit card is that you have the option to withhold payments incase you are not satisfied with the product or if there is something wrong with the product. Advantages with a debit card is that you don't have to worry about late bill payments because the money is taken out right away. Also you don't have to worry about going over the spending limit. I think that a debit card is better for my own personal because than i can't go over my limit, and I don't have to worry about late payments and going into debt.
ReplyDeleteA debit card payment comes directly out of a checking account. Advantages are that you won't have to worry about credit card bills and interest rates. There is a low to no cost for using it, but there can be overdraft fees. They can also limit purchases to items cardholders are able to pay at that moment, which I guess could be an advantage and disadvantage.
ReplyDeleteWith a credit card, you can withold payment and make sure you are satisfied with the quality of the purchase. You also have more consumer protection with a credit card.
For me, I always use my debit card. I don't really make huge purchases, so it works fine for me. It is really easy to use and I don't have to worry about credit card bills and stuff. It's pretty much just like carrying cash but easier.
1. The major difference between credit and debit is with credit you have to pay back the money with intrest and with debit the money is already yours and you are just taking it out of your checking account.
ReplyDelete2. An advantage of a credit card is that you have a little time to get the money if you don't have it right away.
3. With a debit card, you know that you will not be spending any extra money to use money that you have. You are not going to be wasting money on things like interest.
4. I think that a debit card is better for my own use. I feel that if I had a credit card I would maybe spent too much money and not be able to pay back the company.
Debit cards come out of the checking account immediatley, while credit cards go through a credit card business and you may be charged interest on what you have payed.
ReplyDeleteAdvantages of credit cards are that you can buy something you need now even if you dont have the money, than you can pay later.
Debit cards are good because they can limit your spending by only what you have in your account. It can help you buy not going into debt.
I think they are both good. Credit card if you dont get in trouble with your spending, just dont overspend and you should be fine.
Debit cards are using money that you alread have while credit cards are using money that you might not actually have. Advantages of credit: you dont not have to pay things right away. Debit cards can be better for personal use allows you to control your spending easier. However credit cards make you more resposible because you have something to keep track of. I think debit cards all in all are better though considering the average debt on credit cards people have is well over 1000 dollars and with debit thsi doesnt happen.
ReplyDelete