How to Make the Most of Your Debit Card?

26 March, 2014

Debit cards were launched in 1987 and they have established since then a new financial trend on the market. They are now one of the most popular payments card with many consumers. They were initially developed as a convenient and cheap alternative to point-of-sale queues, and now the debit cards are used as a substitute for cash more and more.

Choosing a debit card

The first thing to do before making the most out of your debit card is choosing one. As you already know, debit cards are linked directly to your personal bank account, and they are offered by all banks. Your choice should focus on the features your debit card should have. There are two main types of debit card available right now. The first one is the “electronic only” kind, and the second one is the kind which can be processed offline. You should choose one for your necessities. Almost everyone have debit cards nowadays, as they make budgeting easier, and are easy and safe to use.

Making the most of your debit card

You should know from the start that credit and debit cards use different networks in order to process the transactions you make. When you choose “credit” at the store, you have it easier, as this option is processed much quicker than de “debit” one.  Making the best out of your debit card means to use credit networks when purchasing anything with your card. There are several reasons why this is to be preferred, such as earning rewards, no charges for purchasing, ensuring of your purchases.

Security of your debit card

In order to be able to make the most of your credit card, you should keep an eye on the security of your credit card. Protecting your card is very smart, as it can be easily stolen or lost. You are able to block your credit card and make a new one. Another way to keep your card secure is never shopping from untrusted sites and keeping a good track of your credit score.

Your credit and debit card

These two are closely related, as your money can be easily accessed from the debit card. Keep your credit score in check by staying informed about the credit report and keeping a balance always. You can always use your debit card to hotels, gas stations or rental cars, but only when you have enough money on it. Avoid getting into debts!

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