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The Pros About Debit Cards

You are probably a credit card user because you want to take advantage of the fancy rewards programs. If that is the case, you clearly have no issues with paying your bills on time right? While that shouldn’t be the reason you are using a credit card, you should also consider the inconveniences that come along with owning a credit card. Especially when it comes to managing your funds and security. The daily use of debit cards is increasing because of the convenient impact it has on everyday life. It provides benefits that cash and check can not offer and surprisingly is a great budgeting tool. Here are a couple of pros about debit cards.

Stronger Security

There is not tight security for fraudulent charges when it comes to credit cards. A lot of times despite if a dispute is made, the consumer is rarely promised zero liability. When it comes to security, fraud protection comes at ease with debit cards. Most debit card providers offer a zero liability policy, which means consumers won't have to pay a dime for any fraudulent activity on their accounts.

Provides convenience

You can use a debit card at almost every place you go, as long as they accept Visa and Mastercard. Not only at physical places but debit cards are widely used online, and over the phone to make purchases. Debit transactions are fast and simple when you are out shopping, and you can also set up automatic pay transactions for your essential bills.

Easy money management

It is usually from a checking account that debit transactions stem from. Every month the bank sends the consumer a statement in which all the transactions ever made each month are recorded. You will have awareness that once your account hits a zero balance, there is no more spending. It would be impossible for you to spend more than you have. Some banks do charge you if you go over the amount enlisted in your account, what they call overdraft fees. You’d surely want to avoid those.

A sense of insurance

This is also one of the main reasons people are running to the use of debit cards, it is the secure substitute for cash. Instead of holding a bunch of smashed together 20 dollar bills, you can store it conveniently in a debit card. This comes handy in the case of an emergency. You can get robbed, or lose your wallet and still not lose your money. Whoever stole or found your card from you will not be able to use it, proof of the strong security behind debit cards. Debit cards are simply replaceable.

The rewards programs are a go.

Though this may be a limited option for some, which depends on their account of choice debit cards have rewards programs as well. At most there are cash back, savings, and points rewards programs. These programs may have annual fees, but most debit rewards programs are offered to their cardholders for free. Some institutions even create their own rewards programs and offer consumers things starting from free vacations to discounts at notable retailers. With great and lengthy debit card holder experience, the rewards programs will be a huge plus for you. 

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