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debit card requires you to have the full amount available at the time of payment. safe credit/charge card usage only requires that your monthly income exceeds y
by leetcrew 4y ago
debit card requires you to have the full amount available at the time of payment. safe credit/charge card usage only requires that your monthly income exceeds your monthly expenses. most people get paid biweekly or monthly. if you have enough surplus income, you can just maintain a bigger buffer in your checking account to offset this, but it's nice to not need to.
- capableweb 4y ago> debit card requires you to have the full amount available at the time of payment Yes, and for many, this would be a benefit rather than a drawback, as it forces them to wait and acquire the funds for the purchase before doing the actual purchase. Purchasing things with credit and then not being able to pay it back would put you in a worse position, in most cases.
- leetcrew 4y agoyes, I get that. some people can't consistently balance a monthly budget. but you asked why not use only debit, and I gave you a reason. for people that can manage a monthly budget, a credit/charge card is strictly better, even if you don't take cashback/rewards into account.