Debit Card or Credit Card?

Roxas, Philippines
September 24, 2015 9:31am CST
I don't have a credit card yet. Lately I have been contemplating if whether I should get one so I can verify my paypal account and also use it buy a graphic tablet so I can go back to my digital drawings again and perhaps use the tablet as a tool for additional source income. But I was thinking that I'd rather use a debit card instead so as to avoid buying things I can't actually avoid. One of my office mate who's has a masters in finance advised me to get a credit card instead of debit card. It made me wonder if his reason is really logical. What do you think?
3 people like this
5 responses
@Gina145 (3974)
• Johannesburg, South Africa
24 Sep 15
I use a credit card for the convenience it offers, but I make sure that I never spend more than I can afford and also pay my account in full every month so that I never have to pay the bank interest. If you have the discipline to use it that way then you're getting a free loan from the bank every month, so it's really worth it.
3 people like this
• Roxas, Philippines
25 Sep 15
I guess I just have to have the discipline then...
1 person likes this
@sugartoes (41925)
• Greencastle, Indiana
20 Dec 15
it really depends on if you want to spend extra fees with a credit card or go into debt with one ME myself I'd rather have a debit card to work with so I can avoid both them that come with a credit card been there done that.
1 person likes this
• Roxas, Philippines
21 Dec 15
That's what I have in mind too, Gayle. Though sometimes, it's nice to think that if I have a credit card, I could have something for emergency situations... on the other hand, I'd rather put up an emergency fund. Thanks
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@sugartoes (41925)
• Greencastle, Indiana
22 Dec 15
@jrlcentral the blue bird card is a debit card that is under American express but it still works on MOST places to keep from going into debt.
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• Roxas, Philippines
22 Dec 15
@sugartoes thanks for the info. I opted to have a debit card from my bank. Though my ATM can be used as a debit card as well, I just don't want to swipe my ATM directly or use it online. At least with the debit card, I could spend only what I have transferred there. :D
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@munhozmib (3854)
• Sao Paulo, Brazil
24 Sep 15
Greetings, John! A credit card is a financial instrument that, if used properly, will aid you a lot. It is also a sharp knife if you can't handle it well, as it will ruin your financial health. A credit card is meant for people that can handle their own money, people who program their budget and knows exactly how much they can spend. If you are on this side of the game, it means you can program your finance for few months, deciding to buy something and paying it little by little. However, if you do not know how to handle it, you'll end up using all the limit in your credit card and, since it has a high interest rate, you'll end up troubled. You have to take in consideration, as well, the fees you're going to pay for having a credit card. Sometimes they're too expensive and it doesn't compensate. Lastly: it is always better if you can buy things on debit. However, we know it is not the reality of many. If you cannot handle your impulse on buying, though, it is not advisable to own one! Regards!
• Roxas, Philippines
25 Sep 15
Hi, Monhozmib. Although, I have learned how to leave below by means. What I fear is if I get a credit card I might not be able to resist the temptation heheh. For now my immediate need is just to have a mean to verify my Paypal account. Then buy a wacom graphic tablet which actually costs about 30% of my salary. But I don't want buy it off from my monthly salary at once... (Wow! having these conversation with you guys just gave me an idea how get what I want without getting a credit card. heheh. I just had that "bright bulb" lighted above my head. heheh) Thanks
1 person likes this
@munhozmib (3854)
• Sao Paulo, Brazil
28 Sep 15
@jrlcentral hahaha I'm glad that the light bulb was somehow lighted. Specially when we talk about international buying, it's often necessary to have a credit card. It would be nice if you could find an alternative way!
1 person likes this
@kataomoi (706)
• Japan
24 Sep 15
I don't think I have a preference. For debit cards, you can budget yourself better but for credit cards, if someone ever uses your card to buy things, you can fight it easier (because they haven't actually taken your money yet). It's up to you though. You could get both.
1 person likes this
• Roxas, Philippines
28 Sep 15
yeah both have their advantages and disadvantages. I could use the credit card to fund a small business, but then again, I'm not sure if I will be disciplined enough that I won't abuse it's convinience.
@Salamnda (476)
• United Kingdom
24 Sep 15
i dont agree with your friend :) personally i prefer the debt card, at least i only use the money i have . and stay away from credits and the promises that i will be paying it at the end of the month, there is a saying ( never stretch your legs longer than your blanket) so you know what to do , when you use the debt card and never get the temptations by the credit :) stay safe
• Roxas, Philippines
24 Sep 15
Yeah, I totally agree with you. It just makes me wonder why he suggested to get a credit card instead with his educational background. I suppose this is just proof that personal financial management is never taught in school even in the masters level.