Credit Card vs. Debit Card: Week 1 of 2
We all know that having a debit card and having a credit card has perks. Over the next two weeks we will discuss the advantages of both. This week we will look at the advantages of credit cards. Some wonder if it is best to get rid of the credit card completely and just use a debit. Well, the answer is no. You need a credit card in order to build credit. Here are some of the other perks of credit cards.
- Zero liability. Most credit cards offer zero liability. If your card is stolen and there are unauthorized transactions made, you still have access to your funds while the bank fixes the problem. With a debit, you will receive the money back, but it may take a while.
- Building up a track record. Like we mentioned earlier, building up a credit history is important. Your credit score is a vital part when it comes time to take out a loan for a car or a home. Continue reading “Credit Card vs. Debit Card: Week 1 of 2”