Credit Card Vs Debit Card : Advantages & Disadvantages

[The_Big_K]

I overheard the discussion between two young engineers about Credit Cards & Debit Cards.

Starting a thread where we can discuss credit cards vs debit cards. If you have any questions, post them in this thread!

[ash]

You can also add Pre-paid cards as a third option! They act as normal Visa or Mastercards, but are limited to the amount you "top up" in it. Its distinct from debit cards in the sense that you don't really have a bank account tied to it. Plus, debit cards can only be used in limited places, I believe.

I'm saying this because I've got one Its easy to use.. you don't even need to be employed to get one, which is great for students.

[leo212]

Originally Posted by ash

You can also add Pre-paid cards as a third option! They act as normal Visa or Mastercards, but are limited to the amount you "top up" in it. Its distinct from debit cards in the sense that you don't really have a bank account tied to it. Plus, debit cards can only be used in limited places, I believe.

I'm saying this because I've got one Its easy to use.. you don't even need to be employed to get one, which is great for students.

Yes you can add third option as a Prepaid cards as I am also having it. It is worthy to use.

[crazyboy]

Originally Posted by leo212

Yes you can add third option as a Prepaid cards as I am also having it. It is worthy to use.

Where are my dear finance loving CEan's? There are many thread which requires their inputs.

I don't have much of finance knowledge, still trying to keep this thread alive so that someone can notice it and reply the question.

-Crazy

[koli]

Use more Credit card - you will be bankrupt sooner or later.
Use debit card - you will have better control on your finance.


But i know- you wont listen to me. I dont do it either.
Those miles, and awards, and discounts and deals are just too attractive, aint they.

How many of you know that any MasterCard starts with 5 and Visa with 4.
Any one with Amex and discover ?