The Benefits of Credit Cards Over Debit Cards

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The Benefits of Credit Cards Over Debit Cards

There’s a good chance that you have at least one credit card and one debit card in your purse or wallet. And there’s also a good chance that you struggle to determine which one to use (and when to do so).

As you learn more about the pros and cons of both credit cards and debit cards, it’ll become more clear as to which one is the right choice.

Here are some of the many benefits of credit cards as compared to debit cards:

  • Promotional offers :

    When you open a credit card account, you may receive a promotional offer or bonus. For example, if you spend a specific amount of money within the first three months of opening an account, you’ll receive a cash bonus.

  • Higher limit :

    With a debit card, you can only spend as much money as you have in your checking account. But with a credit card, you can spend all the way up to your limit. This makes it the preferred way to make large purchases.

  • Reward points :

    With many credit cards, you earn reward points every time you use it. As you accumulate these, you can use them for everything from travel to cash back to household items. You might as well get something in return for the money you spend.

  • Safety :

    In today’s day and age, safety and security are more important than ever. With a debit card, the money is gone from your checking account the second it’s stolen. But with a credit card, that’s not the case. So, it’s less likely that you’ll be held responsible.

  • Build your credit history and score :

    It’s important that you build a strong credit history while taking steps to boost your score. And one of the best ways of doing so is through the regular use of a credit card. Always make the minimum payment on time, and when possible, don’t carry a balance from month to month.

This isn’t to say that using a debit card is a bad idea. In fact, there are times when it makes sense. However, most people find that the benefits above are reason enough to carry at least one credit card.

If you’re leaning toward using a credit card more often in the future, make sure you have the right one in your purse or wallet. With hundreds of credit card offers to choose from, there’s no shortage of options. Find the offer that best suits you, your current financial circumstances, and your goals.

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