| When you are considering getting a credit card you | | | | linked directly to your savings or checking account. |
| should be fully aware of all the consequences that | | | | Unlike a credit card, a debit card has a limit that is |
| could come with the responsibility of having and using | | | | based upon the amount of personal money you have |
| one. Some people prefer to make use of a debit card | | | | within these accounts. You cannot go over your limit, |
| instead of a credit card to keep them out of financial | | | | so there are no fees; however, you will want to be |
| peril. This is all a matter of personal opinion and needs, | | | | extremely careful, because as stated it goes by the |
| wants, and desires. When you use a credit card, if you | | | | amount of money you have within the account. |
| are not careful you could end up in a deep financial | | | | Additionally, because a debit card is linked to your |
| hole that is extremely difficult to get out of. Using a | | | | savings or checking account you can use the card at |
| credit card takes a mature responsibility of resisting | | | | any ATM without having fees applied (Unless you use |
| temptation, setting and sticking to a budget, and having | | | | an ATM of a non-accepting bank, then you may be |
| the ability to pay off the charges at the end of each | | | | charged $1.00 - $1.50 for using that ATM). By using a |
| month. | | | | debit card you will avoid the fees typically associated |
| A debit card is a form of "Credit Card" that generally | | | | with a credit card, such as interest charges on |
| comes with the Visa or MasterCard logo upon and | | | | balances, cash advance fees, and it will not affect |
| works just like a credit card would with a few | | | | your credit rating at all. By using a debit card, you will |
| exceptions. These debit cards; if they have the major | | | | be able to better control your spending because the |
| credit card logo upon it, can be used to any retailer | | | | charges will come directly out of the money within |
| that accepts those specific cards and for any | | | | your account, this will help you (if you stick to a budget |
| purchases such as items, hotel reservations, and car | | | | as mentioned before) refrain from over spending and |
| rentals. The exceptions and differences between a | | | | keeping financial stability. |
| credit card and a debit card is that a credit card is | | | | |