FC Community
Discussion Boards => Off-Topic => Topic started by: mildreddavis1 on June 28, 2012, 06:27:42 am
-
It is amazing how we have choices when it come to virtual money. I was thinking about how to better balance my finances the other day and realized that there are so many different types of cards.
1. Debit Card - is a card that is attached to your checking account at a bank that allows Check deposits and withdrawals also ACH Credits or Debits
2. Prepaid Debit Card - is a card that you can use like the debit card that is attached to your bank but no paper checks are allowed in or out of this account strictly ACH Credits or Debits
3. Credit Card - is a card that allows you to make purchases today and pay back over several months
4. Charge Card - is a card that works like a credit card but it has to be paid in full the next month
I wished I would have known about all these different types of cards when I was in College because my first card was a charge card and oh my goodness I should have read the fine print because I was using it like a credit card and got so deep in debt it made my head spin LOL :dontknow: :notworthy:
-
I have a debit card. I think it is a better way of spending if you're the type of person that wants to keep track of their spending. Once you use the card, money is automatically taken out.
-
Regardless if I have a debit/bank card I prefer using the 'CREDIT CARD' option at card swiping machines at various stores. Some of the times I can avoid having to enter my pin number depedning on the card swiping machines at different stores. This saves me time in my daily schedule too :bunny: ;D.
-
I would prefer the debit card. If I do not have enough money to buy something, I will have to wait until I do.
-
I have a prepaid debit card. It has helped keep my spending under control. The money is there to spend when I add it, when it's not then I have to wait to spend til I can add more money to it.
-
I prefer to have a credit card because the benefits are greater. But I may say that prepaid debit cards are very convenient, safe, and they work just as well as many of the bank cards.
-
Debit cards/prepaid cards are your best bet. I made a vow NEVER to get a credit card.
-
I prefer Prepaid Debit, or Debit Card, because it's my own money and not money that i have to pay back to the bank with interest charges.
-
I chose debit 100% of the time. No fees, no interest... 8)
-
I use my debit card for about everything
-
I learned a hard lesson.Like many i racked up quite a bit of debt long ago.As you get older you do tend to get wiser.Even if it costs me a couple of dollars i know credit card debt will never exist with me again.Pre-paid and debit cards only make u spend what u have.I like em.
Thanx,Anthony
-
I've actually never heard of charge cards. Though the terms is how I usually maintain my credit card. I use plastic for everything. I use the points, rewards, and discounts that my credit cards offer and get all sorts of things that I wouldn't be able to do otherwise. Such as free flights or free hotel rooms. I do usually pay the card in full each month, sometimes making payments throughout the month to allow me to keep under my limit but keep using the card.
Certainly having a credit card has allowed me to do some things that I wouldn't have been able to do without lots and lots of financial planning. Right now I'm unemployed, and if I hadn't had the credit card I would have been truly waiting some days for money before I could eat.
I don't like debit cards because some banks charge for the usage, the need for a pin, and because the money is taken out immediately. Why not borrow someone else's money for free and let my money earn interest?
-
I use my debt card or cash for everything.
-
Cash debit sometimes but I prefer to use cash amazing what you can't get or do when the machines go down I have to laugh at the people who freak out at the store cause they only have plastic ...... cash is good :)
-
Debit Card - no fee and always loaded as long as my bank account is
-
I actually prefer cash. But if I really HAVE to use a card, I prefer a credit card. Only because things aren't directly pulled out of my checking account. I only have one card with a $500 limit so I don't really get in trouble with it.
-
I like to use debit card.. I know how much I have in the bank and don't have to worried about paying it back like with credit cards.
-
I go for the Debit Card. It's really easy to use and I'm good at keep tabs on my bank account, so I've never actually withdraw too much. I know that can be a downfall for some people. For me, it's free and easy!
-
I like my debit card....i can manage my money without going over...
-
I think using a debit card gives you maximum control over your spending. No high interest bills. You are forced to stay within your own set limits and you always know exactly how much and for what you have spent your money. You also learn to use caution with impulse spending and ask yourself "do I really need this?" before you buy. On the other hand, Credit cards are lethal!
-
I prefer debit card, so that I won't have to worruy about spending more than I have. I just hate to owe anyone.
-
i like using debit cards now on small items and i also need to use this to receive interest on my checking account.
-
If you are good and can pay the balance in full each month, then credit cards can actually b the best. A lot (esp. for those with good credit, which you'd have paying off every month) have bonuses (air miles, cash back etc) which make ur purchases cost less when u factor in those extras. But knowing me, I have to go with debit cards so I don't get huge interest rates.
-
I only use a Debit card cause I actually use the money I have in the bank instead of charging it to a credit card and getting a big bill!
-
Usually credit card... for school fees and such.
-
Debit card! I rarely carry more than $5 in cash.
-
Debit cards are best. I just they would have the same protection that credit cards get when making purchases.
If I order something using a credit card and it turns out to be crap. The company won't issue a refund.
I can call my credit card company and dispute the charge, and have it held up until a resolution is made.
If I did the same thing with a debit card, I am S.O.L. or have to take the company to court.
-
I prefer to use my debit card most of the time.
-
I prefer to use cash, but if I have to use a credit card I always pay it off at the end of the month.
-
I prefer my credit card. I am good with my money and making sure I keep my spendings in order. I pay the bill off in FULL everytime it is due and have yet to pay any interest in the past six years or so. Plus I earn cashback with it. Win Win situation for me.
-
I like them all and use them depending on what and how I want to purchase an item.