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Bellco Credit Union
Bank Smarter. Live Smarter.
Fight of the Century. Bellco presents Debit Cards vs. Credit Cards. Not to be missed.
It’s a death match battle between Debit Card and Credit Cards.
While these two combatants look the same and can be used very similarly,
each brings something unique to the battle.
In this corner at 33/8 inches by 21/8 inches, the Debit Card.
When you use the debit card, it pulls money directly out of your checking account.
The benefits of the Debit Card:
You don’t have to carry cash.
Money comes right out of your checking account
and by replacing un-trackable cash—you get an accurate accounting of where you’re spending your money.
And in this corner, plastic and also with rounded corners, the Credit Card.
The Credit Card offers different things:
First of all, it’s a loan so you can pay over time and delay payments as needed.
Credit cards are a great way to build your credit score, as long as you pay them off in a timely manner.
Plus, with a credit card you are protected on purchases you need to dispute.
While the Debit Card is strong for people concerned with overspending; who want easy access to their money;
and want low or no fees - it is not for everyone, every time.
The Credit Card, used responsibly, can offer many of the same strengths as the Debit, but it also gives more flexibility.
In the end it really does come down to the ability to use credit responsibly.
You see, if you carry a balance on a credit card,
you might end up paying a great deal more for the things you buy because of compounding interest.
One more difference is how the cards protect you from fraud.
If your debit card is stolen, the money will come straight out of your account and getting it back might takes days or weeks.
But if a fraudulent charge appears on your credit card account, you can submit a dispute claim
and the fraudulent charge should be removed without ever truly affecting your account.
So there you have it, in the battle between Debit cards and Credit cards each brings something to the plate,
each is a strong player on your financial team and each should earn a place in your wallet.
My call: Push.
Bellco Credit Union. Banking smarter.
Bank Smarter. Live Smarter.
Bellco.org