When you moves out of the house to go for shopping or to buy some other accessories you must have some money in your pocket. But the question arises in the mind what to do with theft if you have some cash in your pocket. You don’t need to worry about this matter in this 21st century when you have debit card in your pocket instead of cash.
Debit card is a plastic payment card which you can use easily without the fear of theft debit card is directly linked with your checking account. You can do online shopping by swiping it or by using ATM.
It contains logo of visa and master card and also contains PIN code. It is also known as cash card and offers consumer comfort. Anything can buy with it without writing a check it not only works like a card but also like cash.
Advantages of debit card
It is common social issue when you move out for shopping you have to face hurtful fact of robbery. To avoid this problem debit card provide preservation right. Debit card have pin code and special chip (which provide more protection) so no one can use your card.
Debit card and free money
By using debit card free money added in your account not by magic if and only if your account is linked with interest earning account. There is minimum balance required and you can get two blessings one is free extra money and other is facility of using debit card for purchases.
Easy to hold
It is easy to hold a card in hand or to put it in the wallet rather then this that you have a bundle of cash.
Debit card is allowed everywhere even if you are out of the city or country there will be no need to change your currency.
Surcharge is an extra amount which is owed from your purchase via debit card but according to the new regulation surcharge amount is 0.5% on debit card.
If you are in need of money you can get it immediately without any further delay and can save your time.
Exceptional foreign exchange rate
While going abroad credit card helps you a lot for exceptional foreign exchange rate if you withdraw money from ATM with debit card you can get more foreign currency for US dollars.
Not linked with payment histories
Only thing you need is the bank account and minimum amount of deposit in it there is no need to worry about payment histories and credit scores these things are not take into consideration by using debit card.
By using debit card you cannot spend more than your balance because you cannot be overloaded with burden of overdraft and debt.
Debit card like other cards have four digit personal identification number through which you can withdraw money in case you debit card is lost you can cancel it and no one can use it without knowing pin code.
Credit card a cash card
If you visit to a store or anywhere else where cash is required instead of card debit card will help you in this case as cash you can take this to ATM and withdraw the cash.
No need to write a check
Writing a check is a time consuming and hectic process so with the help of debit card there will be no need to write a check.
Keep the track of money spend
With debit card you can keep the track of money you spend in your shopping the amount will be deducted as per purchase you are not in need to write all your bills manually.
Cash back attempt
Debit card attempts cash back if you buy a product and you are unhappy with that product you can simply request for cash back.
It has been in observation that most of the banking consumers of middle class family prefer using debit card comparing to get & use credit card. With credit card, your buying power is increased for the short time frame but in real life your buying power is only what you have in your pocket or bank account.
This way, your debt increased at higher level which can be hard to payback on time and take you under huge burden. Debt Management Companies can be helpful in this regard.