Should I start with a DEBIT card and see how it goes before applying for a CREDIT card?

debodun asked:


I’ve never had a credit or debit card. Most of my acquaintances are saying I should get one. Will a debit card help me ease into using a credit card? Or should I just not bother to get anything and keep paying with cash and checks? What should I watch out for using a credit card?

Arnold

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4 Responses to “Should I start with a DEBIT card and see how it goes before applying for a CREDIT card?”

1. laurie Says:
   April 25th, 2009 at 8:33 am

   Ronald

   I would think it would be a good way to manage your money . Credit cards make it too easy to spend without having to worry about limits . I’m speaking from personal experience of getting myself into big time debt from credit cards . I only carry one now and it has a set limit of only 700.00 . They offered me a limit of 2000.00 but I feel safer with that low limit . I do pay it off each month to avoid any interest charges .

2. CygnusX1 Says:
   April 27th, 2009 at 6:20 pm

   Donna

   Start with a debit card and stay with a debit card. Cash and checks are fine too. You won’t get into trouble when you can’t spend money you don’t have. Learn to live on less than you make and pay cash for stuff and don’t listen to broke people who make fun of your plan.

   The credit card companies make all the rules and stack them in their favor. Just look up the “Universal Default Provision”. They can change the terms and rates that apply to you at anytime and for any reason.

3. goldsheet Says:
   April 28th, 2009 at 5:36 am

   Anita

   If you are not financially responsible, you can get into trouble with either debit or credit cards. Each had advanatges and disadvantages,

   Debit card can limit you to only funds that you have, but banks will allow you to overdraft and hit you with fees. Credit cards can extend you a huge credit line, but you do not force you to use it ! Debit and credit card both give you protection in the event of theft.

   Credit provides some services like warranty protection and price protection. Also, you can dispute a transaction with a merchant when you buy with a credit card. Also, lots of credit card give you cashback which lets you buy stuff for less than the cash, check, or debit card price. (remember not to buy stuff you do not need !)

   Obviously, I love my credit cards and never use debit cards.
   Both are financial tools that you can either use or abuse.
   (like a hammer, you can build a house or bang your fingers)

4. Mary P Says:
   April 28th, 2009 at 11:33 pm

   Cynthia

   I would stay away from the cards as much as I could I only use the prepaid and if they do not except I try to find the address of the company it is much cheaper that way direct then using cards even a money order is cheaper.