In the world today, credit cards are to blame when consumers spend so much on unnecessary expenses. Therefore, it is simple to stop wasteful spending habits; stop using credit cards. But it is really easier said than done. But people are just used to the idea of swiping cards for the sake of convenience. Some people even think that carrying that physical cold hard cash around is troublesome.

What is the alternative to credit cards then?

Well, introducing debit card, the best gift to consumers. A debit card is still made from plastic, just like its predecessor. However, what you spend is equals to your bank account balance. Therefore, you cannot possibly spend more than what you have in your bank. Unlike spending on credit, you spend (actually borrow) an amount first and paying later. It literally forces you to live within your own means.

Introducing debit card

They are also known as electronic checks. In some cases, they are produced mainly for the usage of Internet and do not have a physical plastic card existing, just numbers. You can think of debit cards as a portable ‘ATM’ (Automated Teller Machine).

There are in fact, three types of debit cards.

The first is the online debit system. These work by briansclub cm   requiring electronic authorization whenever you make a transaction. Then, your bank account will promptly state this as a debit entry.

The second is the offline debit system. Usually, you will find company logos like ‘MasterCard’ or ‘Visa’ on them. However, there is a limit a customer can make in total transactions a day.

Lastly, we have the prepaid debit card. This way, the payer injects some amount of money into the card account. Then, the money in the card can be used in online or offline debit system.

Differences between credit and debit cards

1.If you settle your credit bills in full and are never late for payments, your credit card will usually give you free use of the money you owe until it is time to settle the particular bill. However, a debit card will immediately deduct any expenses or transactions or purchases from your bank.

2. An advantage of the credit card is that they allow you to dispute charges easier. This is especially true for problematic merchandise or goods through the issuing bank. You should know that most banks will let you dispute charges for up to a 2-month period (after the purchase). They then will credit the particular amount to your account pending resolution. As in the case of debit cards, they have the much shorter timeframe, which is usually less than a week.


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