PrettyGirl
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DO NOT I repeat DO NOT get a credit card.
Disadvantages:
1. ridiculous interest rates. These people are getting paid to sit on their arses and collect your hard earned money.
2. The company doesn't send a balance every month at times, so it would be hard for you to keep track of the bill.
3. Will get you into complete and utter DEBT...
Advantages:
1. you spend money you dont have ( which could also go under disadvantages)
2. beneficial for quick fixes, but that could also be a disadvantage. there are always other ways around issues.
DEBIT cards:
1. no interest
2. all the money is yours
3. the company can be trusted, because it is from your very own bank.
4. bank statements include purchases made on these cards.
There are no disadvantages with a debit card.
DO NOT GET A CREDIT CARD. |
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Kristina
|
Credit cards build your credit and debit cards don't. However, if you're not careful credit cards can put you in debt a lot easier than a debit card can. |
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heybulldog
|
credit cards = debt.
debit cards = cash |
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Amis
|
credit card = spending money you don't have
debit card = spending money your have in your account |
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tone
 |
Advantage.....can pay over time; can spend up to limit
Disadvantage....you pay interest, you can overspend and get into financial trouble |
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mister.flea
|
debit cards really cant get you into that much trouble, just a few overdraft fees perhaps but then again this world is ran nowadays on credit ratings, so you really need a credit card in order to move up in life (unless yer filthy rich) just cant go overspending on the credit card, make small purchases and then quickly pay the card back off asap |
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krisnickeh
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With a check card, you have to have the cash available to you at that particular moment at time, and it is just drafted out of your checking account. With a credit card, they forward you larger amounts of money (which are good in case of an emergency - ie. an "emergency" is when your car breaks down or your animal is sick, not that you need a new Prada purse.) Credit cards allow you to stack up revolving debt, which is very bad. You end up paying more for your purchase over time. You should avoid credit cards whenever possible and if you do use them, pay them off as quickly as possible. |
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Sharon F
 |
Leave those credit cards alone if possible.
Do a debit card. That way you can never spend more than you have and you don't pay interest. |
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jhawksports
|
Most credit cards offer some rewards. Great if you pay off the balance each month.
Debit cards do not charge interest or finance charges, but be careful because many banks will allow you to overdraw your account with a debit card and you will have to pay a $20-35 overdraft fee.
Credit cards usually offer more purchase/fraud protection. |
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rockyfella25
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credit card you have to pay interest and late fees..Debit comes right out of your bank account, its your money in the bank |
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Laelia
|
Advantages of a credit card:
-Builds you a credit history
-You can put large purchases on it
-Many credit card plans give incentives
Disadvantages:
-Huge penalties if you pay late
-Easy to spiral into a bottomless pit of debt
-Many credit card companies are shady
Debit cards are basically a plastic way to access your checking account instead of writing a check.
Advantages:
-Work exactly like a credit card
-Won't let you overdraft (at least with some banks)
-Much easier than writing checks
Disadvantages:
-Does not build credit
-Many debit cards have a per-day spending limit
-ATM fees
In essence, a credit card is best if you're a very responsible person and will always pay it off 100% of the time. If you're like me and terrible with bills, use a debit card instead. |
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Becky H
 |
a credit card has no overdraft fees. the debit card will still allow you to bounce payments they are not automatic like the say they are, also not everyone takes the pin yet so you are using like a credit card anyway and that can take anywhere from 1-7 days to debit your account. but credit cards will up your limit without telling you and if you are not responsible with your money you can get into big credit trouble. then again if you are responsible with your accounts either of them will work for you. |
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Tianna R
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I dont understand why people buy things when they dont have the money. USE a debit, credits are disgusting i mean to have god veredit you might want to get one you know just incase but seriously dont buy something unless you have the money. |
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