Using your debit card for everything helps you avoid credit card debt, but you miss out on building better credit. And lots of credit cards offer pretty decent cash back rewards.
Anyway, here are three OTHER reasons to stop using your debit card.
1. It’s linked directly to your checking account. So if someone steals your info, they can steal your ACTUAL money. If someone steals your CREDIT card info, you can just refute the charges, and you won’t suddenly be broke.
2. Debit cards don’t offer as much fraud protection. If someone uses your credit card into, there’s a law that says you only have to cover a maximum of $50. If your debit card has a Visa or MasterCard logo, it might be covered too. But not always.
3. It’s easy to lose track of how much money you have in the bank. Most people don’t balance a checkbook anymore, they just check their balance online. But it’s still pretty easy to overspend with a debit card and end up with overdraft charges.
Mandy’s Fabulously Frugal Fact of the Day is brought to you by…
Old World Deli is Bellingham’s authentic delicatessen in the European fashion! You can dine-in, shop the market, and order wine, meat, cheese, and groceries for pick up or delivery! Order online or visit them at 1228 N. State Street in Bellingham! Check out their daily specials on Facebook to save money on your lunch or dinner.
