credit card vs debit card

@anujain75 (1059)
April 3, 2008 5:42am CST
which is more beneficial credit cards or debit cards? if credit card is lost or stolen then what should one do?
1 person likes this
2 responses
• India
3 Apr 08
I am the one who favours debit cards more than the credit cards based on the fact taht if i have it i spend it and m a little off with the collection agencies dealing with these credit cards collections. I feel debit card is a safer option if you're an impulsive buyer and can't keep your finances ina stable manner. Credit card i feel on teh other hand acts as a saviour for those in need.When you're out of money or probably there is osmething which you can't afford with teh kind of cash you have in your bank account you can safely pay it through your credit card and then keep paying your bills later though with added interest!! If one's credit card is stolen he/she should immediately get a report filed with teh local authorities as well as inform the credit card company since most of teh credit cards are insured and that way you won't be liable for the loss incurred by the person who stole it!!1
1 person likes this
@MichaelJay (1100)
3 Apr 08
I use a debit card and a credit card. The debit card is handy as a cash subtitute as hen making weekly purchases such as groceries or fuel you do not want to be carrying that amount of cash for comfort and security. I have a credit card but NEVER borrow money on it and always pay off the balance at the end of the month. Again I use it as a cash substitute for major purchases such as furniture. Also some credit cards give you a cash rebate on all spending so this saves a bit of money. If lost or stolen you should call the bank or issuer STRAIGHT AWAY to declare the loss. Failure to let them know immediately might lead to you being charged for some or all of the fraud that could be committed with the card.