Debit cards have been around for a long time, but people still struggle with carrying them. Here are eight reasons why everyone should have a debit card and what it can do for you.
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1. Debit Cards Are Safer
A debit card is much safer than carrying cash and credit cards. The money is just transferred from your bank account to the merchant and automatically refunded when you make your next purchase without having any value lost in the transfer process.
2. Debit Cards Are Convenient
Having a debit card makes it easy to buy things online and at stores where you are shopping since the cards don’t need to be swiped for each item purchased. It also protects you from the fear of someone who may have a hand in your pocket, taking cash or credit cards when checking out a large purchase.
3. Debit Cards Are Everywhere
Due to their growing popularity, debit cards have become accepted by stores where one previously used cash and credit cards. You can use them everywhere, including online shopping and even some services such as cable and cell phone bills.
4. Debit Cards Are Flexible
One can use a debit card for purchases of almost everything. You get to choose what spending limits you set, usually between a low limit that allows no withdrawals and a high limit where only certain expenses are allowed per month. Setting the correct spending limits makes it easy to not overspend on your debit card usage.
5. Debit Cards Are Easy to Use
There is no need to carry around large amounts of cash or charge your purchases on a credit card. Debit cards are the most popular method of payment worldwide. They are used by billions of people, who typically have no problem using them.
6. Debit Cards Can Save You Money
A debit card can help you save money since it allows for automatic withdrawals from your bank account without writing a single check or making a single withdrawal from an ATM, no matter what the amount is. The fees for withdrawing money without a check or an ATM withdrawal are much smaller with debit cards than with cash or credit cards.
7. Debit Cards Save You Time
Debit cards also save time since you don’t have to worry about paying bills or writing checks except for special occasions. Everything is automatic, with the money being pulled from your bank account as soon as you make a purchase.
8. Debit Cards are Convenient for Travel
Not worrying about carrying cash can make it easier for international travel. You can even keep your money safe with a prepaid debit card, set up with a low spending limit, and then reload as needed if there is more to spend. It makes debit cards safer when traveling because there are no worries about being robbed during the trip or after you arrive at your final destination. Long lines at banks and ATMs can be avoided when going through airport security or wherever you happen to be.
Debit cards are a must for everyone. They are safer, convenient, and easier to use than cash, checks, or credit cards. They also can be used to save money and time as well.
