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[Konka]

I don't really understand why people continue to use debit cards. With a credit card you can get cash back/airline miles/points/etc... and much better protection. Why do you not use credit over debit?

 

[Deleted member 17706]

I don't really understand why people continue to use debit cards. With a credit card you can get cash back/airline miles/points/etc... and much better protection. Why do you not use credit over debit?

I imagine for most people it's that they have poor credit (possibly due to misusing a credit card in the past) and can no longer get a credit card.

 

[War Eagle]

No interest charged if you don't pay in full monthly. That's the only thing I can think of if you have both.

 

[zero_suit]

I imagine for most people it's that they have poor credit (possibly due to misusing a credit card in the past) and can no longer get a credit card.

That or they already have a sizable amount of credit card debt.

 

[King_Moc]

To withdraw cash and to not always be living a month in front of yourself financially.

I have a CC that i use a little each month and pay off on pay day, just to make sure i have a decent credit rating.

 

[Switch Back 9]

Or because a debit card only allows you to spend what you have and not rack up debt?

 

[POWERSPHERE]

Debt Pigs

 

[Konka]

No interest charged if you don't pay in full monthly. That's the only thing I can think of if you have both.

Yeah but if you spend the same money you would using debit, you just pay it in a lump instead of at every transaction.

 

[Kung Fu Jedi]

I use my credit card for larger purchases, but for day to day expenses and such, I prefer using my credit card. It's better than getting a big surprise at the end of the month when the bill shows up and you say to yourself: "I spent how much this month?"

 

[Kuro Madoushi]

I imagine for most people it's that they have poor credit (possibly due to misusing a credit card in the past) and can no longer get a credit card.

I guess I'm lucky in that I never went super crazy with my credit cards. I've always had enough in the old bank account to cover everything I purchase.

Otherwise, the only time I'd use a debit card instead of credit is if they don't take credit card for some reason (new restaurant) but even then it's pretty rare.

Some places will give you a discount as well if you pay cash or use debit (I believe this is illegal though), so I'd use my debit card then too.

Beyond there, there's no incentive for me to use my debit, and I find it's more secure to use my credit card as I can more easily track my spending and there's constant surveillance on it. Hell, I remember one time the bank called me to say there was a suspicious charge on it and that they were going to automatically give me the money back and issue me a new card...I didn't even know anything had happened.

 

[BearPawB]

because then i don't buy things i can't actually afford?

It is fine if you are well disciplined. But i am a poor grad student. I can't afford to spend money i don't actually have.

 

[Alcotholic]

My credit card is only good for building credit. I use it a couple times a month for small purchases.

 

[Konka]

Or because a debit card only allows you to spend what you have and not rack up debt?

It's a thing called responsibility.

 

[Bad_Boy]

Because im irresponsible with my money. If I had a credit card my life would probably be in shambles.

Not afraid to admit that haha.

 

[Cheddahz]

My credit card is only good for building credit. I use it a couple times a month for small purchases.

Same here

 

[XiaNaphryz]

Or because a debit card only allows you to spend what you have and not rack up debt?

There are plenty of financially responsible people who mainly use credit cards. Hell, you can often pay off your credit statement online later on the same day as you made the purchase and as a result never have a monthly balance.

 

[Petrie]

The only people it makes sense for are the undisciplined. Otherwise you are throwing away benefits for no reason.

 

[-Deimos]

It's a thing called responsibility.

Some people just don't have it.

Because im irresponsible with my money. If I had a credit card my life would probably be in shambles.

Not afraid to admit that haha.

Yup.

 

[Darkmakaimura]

Credit card = money you don't currently have to pay for things, especially hotels, online purchases, recurring bills online, etc.

Debit card = money you do have to pay for things, especially hotels, online purchases, recurring bills online, etc.

 

[Devolution]

I don't really understand why people continue to use debit cards. With a credit card you can get cash back/airline miles/points/etc... and much better protection. Why do you not use credit over debit?

You can get cash back with a debit.

 

[Brazil]

I like using debit for smaller sums. That way, I can control my credit card expenses better.

 

[John Kowalski]

I don't see the point of having a credit card, but, well, debit is the standard around here, so.

 

[Kung Fu Jedi]

Beyond there, there's no incentive for me to use my debit, and I find it's more secure to use my credit card as I can more easily track my spending and there's constant surveillance on it. Hell, I remember one time the bank called me to say there was a suspicious charge on it and that they were going to automatically give me the money back and issue me a new card...I didn't even know anything had happened.

My debit card has the exact same security levels though. I had used my card recently at Target during that whole fiasco, and my bank emailed me and sent me a note in the mail to let me know they were monitoring the situation. When the security leak became much larger than original expected, they simply issued me a new card on their own, even though there was no suspicious activity on my account.

 

[crimzonflame]

I use my credit card for almost every transaction. I rarely use my debit card.

 

[DUFFMCWALIN]

It's a thing called responsibility.

Or you could just have a debit card and a credit card. I have both but I would rather spend the money I have than spend money that I need to pay off next month. Obviously for some purchases credit is needed but there is no reason to use a credit card every day.

 

[jim-jam bongs]

I much prefer to spend money I already have. Since I sold my house last year for a 20% profit I have been totally free of debt, and I reinvested that profit too so I'm actually ahead by a nice margin. It's a good feeling.

 

[Timu]

I much prefer to spend money I already have.

Same, that's one of the biggest reasons I prefer debit over credit.

 

[XiaNaphryz]

Credit card = money you don't currently have to pay for things, especially hotels, online purchases, recurring bills online, etc.

Debit card = money you do have to pay for things, especially hotels, online purchases, recurring bills online, etc.

Or you could just have a debit card and a credit card. I have both but I would rather spend the money I have than spend money that I need to pay off next month. Obviously for some purchases credit is needed but there is no reason to use a credit card every day.

Except as I posted above, you can use a credit card in a manner that effectively makes it the same as a debit card to go along with its other advantages. Especially if you regularly pay off bills online to begin with.

 

[Ferrio]

I don't see the point of having a credit card, but, well, debit is the standard around here, so.

I didn't have one for years. Didn't get one until I was like 30. I just never really needed one... but the reasons I eventually did:

1. Airline miles
2. It's good in emergencies. Say something really really bad happened and I needed money (more than I could handle out of my bank account).

Other than that I treat it like my debit card, don't over spend. Pay it off each month, get my miles which is currently at 97,398.

 

[NaM]

You can get cash back with a debit.

Ding ding ding.

 

[DUFFMCWALIN]

Except as I posted above, you can use a credit card in a manner that effectively makes it the same as a debit card to go along with its other advantages.

Or I could just use both and be able to pull cash out wherever I go. I really don't understand the point of not having both.

 

[BearPawB]

Except as I posted above, you can use a credit card in a manner that effectively makes it the same as a debit card to go along with its other advantages.

I know myself.
If i used my credit card day to day I would over spend. i would think about my day to day accounts less. It would get away from me.

I think it is great some people are on top of their financial game. i am not there yet.

 

[Konka]

You can get cash back with a debit.

Not nearly as much and you don't get the other protection benefits. Plus building good credit.

Credit card = money you don't currently have to pay for things, especially hotels, online purchases, recurring bills online, etc.

Debit card = money you do have to pay for things, especially hotels, online purchases, recurring bills online, etc.

What is this? I have all the money I am spending on my credit card I am just paying off in a lump sum instead of per transaction.

I much prefer to spend money I already have. Since I sold my house last year for a 20% profit I have been totally free of debt, and I reinvested that profit too so I'm actually ahead by a nice margin. It's a good feeling.

You know you don't have to spend any differently with a credit card right? You can spend the same way you would if you used debit and just pay it off. Why is this such a foreign concept. You aren't getting any benefit by using debit.

Or I could just use both and be able to pull cash out wherever I go. I really don't understand the point of not having both.

Of course you have both but I'd only use my debit card as a bank card or if I need cash back.

 

[Iadien]

I use both. I usually stick to using debit though. Just a personal preference thing.

 

[faridmon]

I have never used credit card so I wouldn't know anything about having credit, but I am appy about using Debit. I don't have family nor do I spend huge amount of money really to justify things like credit and whatnot.

 

[Red Comet]

Because I hate the thought of buying something with money I don't have. I guess I'll have to get a credit card someday to build credit, but I only plan on using it for that purpose.

 

[TTOOLL]

I only use credit for big purchases. For food and daily expenses I use debit only. I don't like rolling regular expenses into the next month. Also, some people may end up using all their money to pay the credit card. Not everyone is educated money-wise.



edit: liquidity is the word I was looking for. If use a lot of credit card you may compromise all your money to pay your card next month. That's really bad.

 

[.GqueB.]

I don't trust myself to keep track of such my spending. Such things can get away from me if I'm not careful.

 

[ghostofsparta]

To withdraw cash and to not always be living a month in front of yourself financially.

I have a CC that i use a little each month and pay off on pay day, just to make sure i have a decent credit rating.

Ding.

It's a lot easier to see how much money you actually have to spend if you use a debit card.

 

[Instro]

I use both. Debit for the everyday expenses, credit for anything over $50.

 

[Konka]

Ding.

It's a lot easier to see how much money you actually have to spend if you use a debit card.

This is just not true, Get a credit card with your bank and you can track it with your online banking with no issue.

 

[crimzonflame]

Credit cards give you like 2 years extended warranties on electronics.

 

[Konka]

Credit cards give you like 2 years extended warranties on electronics.

Yeah plus much better identity theft protection and extended return periods.

 

[Damaniel]

I use mine to pull out cash at ATMs and at the one local store I know of that accepts debit but not credit. I use credit for everything else.

I rack up about $500 a year in Amazon cash back for buying the stuff I was going to buy anyway and I don't pay a dime in interest. Show me a debit card that can do that.

 

[Shalashaska161]

I put pretty much everything on my credit card. I get 1% back, which isn't a huge amount but it's something so I might as well.

I've pretty disciplined though and never had gotten close to spending more than I have or anything.

 

[Darkmakaimura]

What is this? I have all the money I am spending on my credit card I am just paying off in a lump sum instead of per transaction.

A bit like what Bear said above you, debit is a bit easier to manage at least for some people. I don't really have anything against credit cards but the OP asked why should anyone have one when they could have a credit card and the answer is management and sometimes, personal responsibility. Credit cards are good for building credit although I'm not sure if debit could so the same.

Not a great example, btw, but even debit you can sometimes get money you need. If you have a direct deposit from work, some banks will allow a cash advance for a charge.

 

[jim-jam bongs]

You know you don't have to spend any differently with a credit card right? You can spend the same way you would if you used debit and just pay it off. Why is this such a foreign concept. You aren't getting any benefit by using debit.

Of course I know that, it's a matter of personal discipline. Never spend what you don't already have, whether you pay it off at the end of the month or not I prefer to be debt free. Why does it bother you so much?

 

[Red Comet]

This is just not true, Get a credit card with your bank and you can track it with your online banking with no issue.

Yes, but with a credit card you have to be setting the money you have on hand back so that you have it when your bill needs paid off. I'm very careful and I'm sure I'd be alright with a credit card, but I can see how it would be easy for some people to lose track or not be able to save enough money back to pay off their card. That's just an added responsibility that you don't have with a debit card.

 

[XiaNaphryz]

Or I could just use both and be able to pull cash out wherever I go. I really don't understand the point of not having both.

I have both and still primarily use credit as I can't always pull cash without ATM fees if there's no nearby machine from my bank or credit union. Also, a lot easier to dispute purchases on credit than debit if there's ever a mistake or double bill or something, never mind the various bonuses you may get already (points/miles/cashback/warranties/etc).

I know myself.
If i used my credit card day to day I would over spend. i would think about my day to day accounts less. It would get away from me.

I think it is great some people are on top of their financial game. i am not there yet.

This is where stuff like YNAB really helps. There's a mobile app available alongside the main program that you can open and enter the purchase you just made, it'll sync with your YNAB budget file and give you an update on your account balances. Helpful regardless of whether you use credit, debit, cash, or check.

 

[Konka]

Of course I know that, it's a matter of personal discipline. Never spend what you don't already have, whether you pay it off at the end of the month or not I prefer to be debt free. Why does it bother you so much?

It doesn't bother me, just bewilders me.