Thread: Credit v/s debit cards

Credit and debit cards are an integral part of a persons life today. Bot these plastic currencies are important and have their own advantages and disadvantages.
- Debit cards are popular mostly because they attract no intrest rates while credit card attract a lot of charges and intrest rates. With credit cards you are left tracking due dates minimum amount due and stuff.

- Credit cards are the best way to buy and pay at a later convenient time.

- Using debit cards is more risky as your card is equivalent to the amount of cash in your bank account so you have to be very careful.

- With debit cards you can do a controlled spending as the amount is limited to bank balance, but credits cards have higher limits encouraging you to spend more. So you have to be careful how you use credit cards

- It is easier to get a debit card. Mostly a debit card is issued with when create a bank account but for credit cards you need a lot of checks on credit history and documentation.
So it is recommended to use debit cards and credit cards should be solely left for emergencies.

Good differentiation made considering equal weightage given to both the form of plastic currency.

thanx vaishaliv gld u liked