Problems with Using Debit Cards

Posted by: Allie P. | Mar 17,2008

Debit cards can be a helpful way to get your hands on ready cash, but they can also cause some problems. Sometimes, a low interest credit card is your best bet- especially when you’re first starting out.

 

Debit Cards Don’t Always Have Ready Cash Available

 

While the convenience of using ATMS to get cash out is hard to beat, making deposits using an ATM don’t offer quite the same convenience factor. If you make a deposit into your checking account using an ATM, it can take several days to be applied to your account. Especially if it’s an out of state check deposit- it can easily take a couple of weeks for the money to be applied to your account and available for use.

 

Credit Cards Allow More Time to Pay Bills

 

A major problem with using a debit card for purchases- especially when you’re just starting out- is that they immediately debit your account and reduce the amount of funds available. When you use a low interest credit card for purchases, you’ll have some time before the bill comes due where you can still use the card for purchases, without paying. That can come in handy when you’re adjusting to bi-weekly paychecks.

 

Compare and apply for low interest credit cards online.

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