Comments on: 5 Downsides To Using a Debit Card http://www.doughroller.net/credit-cards/5-downsides-debit-cards/ Money Management and Personal Finance | The Dough Roller Sun, 12 Feb 2012 23:24:19 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Dollars Not Debt http://www.doughroller.net/credit-cards/5-downsides-debit-cards/comment-page-1/#comment-17887 Dollars Not Debt Thu, 11 Feb 2010 02:10:41 +0000 http://www.doughroller.net/?p=11117#comment-17887 Top 5 downsides to credit cards: 1. Debt 2. Debt 3. Debt 4. Debt 5. Debt Top 5 downsides to credit cards:
1. Debt
2. Debt
3. Debt
4. Debt
5. Debt

]]> By: Craig http://www.doughroller.net/credit-cards/5-downsides-debit-cards/comment-page-1/#comment-17012 Craig Mon, 18 Jan 2010 17:06:49 +0000 http://www.doughroller.net/?p=11117#comment-17012 I usually only use it for smaller purchases as well because of the lack of protection. I usually only use it for smaller purchases as well because of the lack of protection.

]]> By: eBook Publishing http://www.doughroller.net/credit-cards/5-downsides-debit-cards/comment-page-1/#comment-16986 eBook Publishing Sun, 17 Jan 2010 19:51:05 +0000 http://www.doughroller.net/?p=11117#comment-16986 NEVER a negative to using debit IMO. Reward Points are like Camel Cash or Marlboro bucks if you ask me, I would rather pay no interest ever by either not using CC or paying off in full, and use that money to pay for my own airline flights. NEVER a negative to using debit IMO. Reward Points are like Camel Cash or Marlboro bucks if you ask me, I would rather pay no interest ever by either not using CC or paying off in full, and use that money to pay for my own airline flights.

]]> By: Big Spender http://www.doughroller.net/credit-cards/5-downsides-debit-cards/comment-page-1/#comment-16984 Big Spender Sun, 17 Jan 2010 17:51:48 +0000 http://www.doughroller.net/?p=11117#comment-16984 Also, you don't get to take advantage of rewards points, cash back bonuses and sweepstakes. Credit cards (and some debit cards) let you get really good bonuses for using their plastic as a swipe transaction. Of course, they can only do this on the backs of consumers who pay sky-high interest rates. Pay off the balance in full and you get all the benefits nonetheless. Also, you don’t get to take advantage of rewards points, cash back bonuses and sweepstakes. Credit cards (and some debit cards) let you get really good bonuses for using their plastic as a swipe transaction.

Of course, they can only do this on the backs of consumers who pay sky-high interest rates. Pay off the balance in full and you get all the benefits nonetheless.

]]> By: DR http://www.doughroller.net/credit-cards/5-downsides-debit-cards/comment-page-1/#comment-16983 DR Sun, 17 Jan 2010 16:59:12 +0000 http://www.doughroller.net/?p=11117#comment-16983 SGM, agree completely about paying off the credit cards in full each month. Thanks for the tip! SGM, agree completely about paying off the credit cards in full each month. Thanks for the tip!

]]> By: Single Guy Money http://www.doughroller.net/credit-cards/5-downsides-debit-cards/comment-page-1/#comment-16982 Single Guy Money Sun, 17 Jan 2010 16:47:44 +0000 http://www.doughroller.net/?p=11117#comment-16982 One additional thing to add is that if you pay off your balance in full each month and your credit card offers rewards, this is another good reason to use a credit card instead of a debit card. My Charles Schwab Visa offers 2% cash back on all purchases so I make sure I use this for any large purchases and to pay for those bi-annual expenses like my car insurance. One thing though, if you aren't paying the balance in full each month, rewards credit cards aren't really giving you a reward since you are giving the money right back to them in interest charges. - Single Guy Money One additional thing to add is that if you pay off your balance in full each month and your credit card offers rewards, this is another good reason to use a credit card instead of a debit card. My Charles Schwab Visa offers 2% cash back on all purchases so I make sure I use this for any large purchases and to pay for those bi-annual expenses like my car insurance. One thing though, if you aren’t paying the balance in full each month, rewards credit cards aren’t really giving you a reward since you are giving the money right back to them in interest charges.
- Single Guy Money

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