Comments on: Debit or Credit Cards – Which is Better? http://www.creditinfocenter.com/wordpress/2009/08/17/debit-or-credit-cards-which-is-better/ For the Up To Date News Tue, 07 Feb 2012 22:26:40 +0000 hourly 1 http://wordpress.org/?v= By: JDJ locksmith http://www.creditinfocenter.com/wordpress/2009/08/17/debit-or-credit-cards-which-is-better/comment-page-1/#comment-4020 JDJ locksmith Wed, 17 Feb 2010 01:49:02 +0000 http://www.creditinfocenter.com/wordpress/?p=3106#comment-4020 Blocking” surprises ok now about the blocking say you are using your your debit/credit card to rent a car they block funds from your card like a holtel put a hold on funds. but can they do that if your account only has federal funds like SSI Disibitly can they still put a block on those funds? if you tell them about your funds before you use the card will they still put a block on some funds illgeally? Blocking” surprises

ok now about the blocking say you are using your your debit/credit card to rent a car they block funds from your card like a holtel put a hold on funds. but can they do that if your account only has federal funds like SSI Disibitly can they still put a block on those funds? if you tell them about your funds before you use the card will they still put a block on some funds illgeally?

]]> By: Michael http://www.creditinfocenter.com/wordpress/2009/08/17/debit-or-credit-cards-which-is-better/comment-page-1/#comment-2607 Michael Mon, 24 Aug 2009 18:19:04 +0000 http://www.creditinfocenter.com/wordpress/?p=3106#comment-2607 Credit cards are better then debit cards IF AND ONLY IF you pay the balance in full every month. If you can't manage your money, then you should use a debit card or cash. Obviously summerbaby09 did not pay the balance in full and suffered for it. I have had my credit card information stolen a couple times, and I am glad that I did not have the hassle to get my money back as well as the risk of bouncing payments because the cash was not there. My preference is to pay for purchases with cash and ACH for utilities. I use a credit card when I make a purchase over the internet for safety, and I always pay it in full. Credit cards are better then debit cards IF AND ONLY IF you pay the balance in full every month. If you can’t manage your money, then you should use a debit card or cash. Obviously summerbaby09 did not pay the balance in full and suffered for it.

I have had my credit card information stolen a couple times, and I am glad that I did not have the hassle to get my money back as well as the risk of bouncing payments because the cash was not there.

My preference is to pay for purchases with cash and ACH for utilities. I use a credit card when I make a purchase over the internet for safety, and I always pay it in full.

]]> By: Mark http://www.creditinfocenter.com/wordpress/2009/08/17/debit-or-credit-cards-which-is-better/comment-page-1/#comment-2603 Mark Mon, 24 Aug 2009 13:28:53 +0000 http://www.creditinfocenter.com/wordpress/?p=3106#comment-2603 Kristy, Great article! I agree with your point about credit cards being better for you than debit cards for one very important reason...Your Credit Scores! In this current environment, having high FICO credit scores are more important than ever. While some may think that going to a debit card to keep themselves out of credit card balance trouble (or maybe that don't have a major credit card anymore due to their scores) will be good, that thought process is very short sighted. Why? The credit bureaus don't report your debit card activity. It is not unsecured debt, and unsecured/revolving debt is a major component of your credit score. Besides all of the benefits you mention about credit card vs debit card, improving your credit score affects so many things in our lives besides loans, mortgages, and car loans. Your insurance rates, utility rates, future or current employer job opportunities are all dependent on your credit scores. Now, the problem that most folks have with credit cards is that they don't manage them correctly and that is where they run into trouble. Credit cards are an absolute necessity in this modern financial system we live in...I am not saying I agree with the "game", but you have to know how to play and by what rules. Mark Kristy,

Great article! I agree with your point about credit cards being better for you than debit cards for one very important reason…Your Credit Scores!

In this current environment, having high FICO credit scores are more important than ever. While some may think that going to a debit card to keep themselves out of credit card balance trouble (or maybe that don’t have a major credit card anymore due to their scores) will be good, that thought process is very short sighted.

Why? The credit bureaus don’t report your debit card activity. It is not unsecured debt, and unsecured/revolving debt is a major component of your credit score.

Besides all of the benefits you mention about credit card vs debit card, improving your credit score affects so many things in our lives besides loans, mortgages, and car loans.

Your insurance rates, utility rates, future or current employer job opportunities are all dependent on your credit scores.

Now, the problem that most folks have with credit cards is that they don’t manage them correctly and that is where they run into trouble.

Credit cards are an absolute necessity in this modern financial system we live in…I am not saying I agree with the “game”, but you have to know how to play and by what rules.

Mark

]]> By: Jim Anderson http://www.creditinfocenter.com/wordpress/2009/08/17/debit-or-credit-cards-which-is-better/comment-page-1/#comment-2602 Jim Anderson Mon, 24 Aug 2009 13:20:23 +0000 http://www.creditinfocenter.com/wordpress/?p=3106#comment-2602 The key reason debit cards are better than Credit Cards is that they don't create debt. They don't give the credit card company a blank check. If you only use a debit card on a checking account intended for that use, you can control what happens with it. The holds taken on hotel or rental cars are okay as long as they don't hold it long after you've left. I have traveled a lot with a debit card and never ran into a problem. You seem to have bought into the myths about credit cards. Their contracts should be illegal, and their method of contract formation is illegal - they just get a pass by the regulators. Do a deal with the devil, you eventually get burned. BTW, credit cards should not be used as an emergency account. That is the worst time to go into debt. Establish a money market account savings of about six months of expenses, then you can save money on insurance by raising deductibles and your emergencies are not so devastating. The key reason debit cards are better than Credit Cards is that they don’t create debt. They don’t give the credit card company a blank check. If you only use a debit card on a checking account intended for that use, you can control what happens with it. The holds taken on hotel or rental cars are okay as long as they don’t hold it long after you’ve left. I have traveled a lot with a debit card and never ran into a problem. You seem to have bought into the myths about credit cards. Their contracts should be illegal, and their method of contract formation is illegal – they just get a pass by the regulators. Do a deal with the devil, you eventually get burned.

BTW, credit cards should not be used as an emergency account. That is the worst time to go into debt. Establish a money market account savings of about six months of expenses, then you can save money on insurance by raising deductibles and your emergencies are not so devastating.

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