by Kirsty O'Lone

Created on: May 26, 2010   Last Updated: May 27, 2010

In today’s world it is not always easy, or even possible, to pay for purchases using cash. Many people do a lot of their shopping online where it simply isn’t possible to pay in cash, having a credit card is the obvious way around this; however it may be just as easy and cheaper to use a debit card instead.

There are many advantages to having a debit card, the first most obvious advantage is that you cannot spend more money than you have with a debit card. As any money spent comes directly out of your bank account there is no possible way for you to spend more that you have in that account. There is also no way of going over your limit like you can with a credit card, which can be a costly experience as the credit card company will charge you for going over your limit.

Another great advantage of using a debit card is that you will have no interest to pay on your spending. If you have use a credit card you will usually be charged interest on any balance on the card until such times as the balance is cleared, again this can be a costly experience if you cannot pay the balance in full each month.

Debit cards are especially useful when going to pay for expensive items as they save you from having to carry a large amount of cash. Many people don’t like carrying cash as they feel it is too dangerous and they may be attacked and the cash stolen. If the worst was to happen and your debit card is stolen it is extremely easy to cancel it and have a new one sent before any damage can be done by the thief.

If using a debit card rather than a credit card whilst out shopping you may find that you are less likely to buy things on impulse with the attitude that you can pay for it later, because with a debit card the money is coming straight out of your bank account. This may prevent you from purchasing something expensive that you don’t really need in the first place and struggling to pay for it for months.

A debit card can be used just like a credit card, giving you all the convenience of a credit card but none of the bills or expense. You can use your card in store, online or even over the phone to pay bills etc. Many people find the convenience of a debit card something that they could no longer live without as there are so many advantages of using one.

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