LogFAQs > #943566088

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Topic	For those that have credit and debit cards.
Black_Crusher 08/19/20 10:21:16 AM #30:	TooTooP3 posted... Why would anyone prefer using debit over credit? I see a ton of people say they prefer using their debit card but... why? Credit allows you to build a good credit score and allows rewards that you can use on other purchases. I built $300 of rewards of my card and used to pay some games I've been wanting. With debit cards it literally just takes the money out of your bank account with no actual reward for making your payments. There's no interest if you pay with your debit card. Something that costs $50 will only cost you the $50 from your bank instantly. Whereas a credit card you'll end up paying more later on. Ex. a card with a 20% APR would make a $50 purchase $60 if I'm not mistaken. $10 doesn't sound like much but if you're buying lots of big ticket items it will really add up fast. funkyfritter posted... I get the impression that the credit card industry makes a lot of money by exploiting people who get stuck in a vicious cycle of debt. This is why so many college kids end up with tons of credit cards. CC companies know that students are (mostly) irresponsible with their spending habits and they'll make a ton of money off them. --- Bone Appetit, my skeleton Metroidvania! https://store.steampowered.com/app/1256520 <cite>Black_Crusher posted [p:943566088] in For those ... [t:78920032]...</cite> <quote>TooTooP3 posted... </cite> <quote>Why would anyone prefer using debit over credit? I see a ton of people say they prefer using their debit card but... why? Credit allows you to build a good credit score and allows rewards that you can use on other purchases. I built $300 of rewards of my card and used to pay some games I've been wanting. With debit cards it literally just takes the money out of your bank account with no actual reward for making your payments.</quote> There's no interest if you pay with your debit card. Something that costs $50 will only cost you the $50 from your bank instantly. Whereas a credit card you'll end up paying more later on. Ex. a card with a 20% APR would make a $50 purchase $60 if I'm not mistaken. $10 doesn't sound like much but if you're buying lots of big ticket items it will really add up fast. funkyfritter posted... </cite> <quote>I get the impression that the credit card industry makes a lot of money by exploiting people who get stuck in a vicious cycle of debt.</quote> This is why so many college kids end up with tons of credit cards. CC companies know that students are (mostly) irresponsible with their spending habits and they'll make a ton of money off them. --- Bone Appetit, my skeleton Metroidvania! https://store.steampowered.com/app/1256520</quote> ... Copied to Clipboard!
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