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Debit Or Credit Card – Which Is Better To Use?

Debit Or Credit Card - Which Is Better To Use?

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Advance Personal Finance

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In case you are intent on conducting transactions, you have the options of either a debit or credit card.  These two cards are in most cases confused given that they bear similar appearances. These two payment card benefits, however, differ vastly both in their nature and scope.

Financial Institutions or banks issue credit cards to the account holder. It enables the bearer to purchase goods on credit, way beyond the amount of money in their bank accounts. Debit cards, on the other hand, are similar to credit cards. They just differ from credit cards in the sense that they only allow their bearers to spend as much money as they have in their bank accounts.


To determine which of these two cards to use, we are going to examine them against several parameters:


You stand to accumulate bad debts by utilizing credit cards rather than debit cards. It is to let you buy goods on credit. Debit cards, on the other hand, limit your purchase to your bank account balance. You are therefore less likely to get into debt by choosing to buy goods with it.


Credit card transactions are accompanied by higher fees. These are levied to facilitate the transactions and safeguard your card from the likelihoods of fraud. Debit cards, on the other hand, are facilitated free-of-charge or at very nominal fees altogether.

Execution Time

Given that debit cards are not subject to excessively complicated administrative procedures, they take less time to effect. Credit card transactions, on the other hand, take longer to execute because of the need to verify the transactions. These verifications make it harder for fraud or identity theft to happen.


Credit cards are more secure than the debit cards. Credit cards are subjected more to rigorous background checks, biometric verifications, and other security check-ups. Debit cards however entirely lack these verifications and are hence more prone to security breaches and identity thefts.

Eligibility for Issuance

Not every applicant can get a credit card. Only those with an excellent financial track record and consistent cash flow in their bank accounts may qualify for issuance. Every person who has an active bank account, you can get issued a debit card.


All factors considered, you would rather use a debit card for your everyday transactions and credit cards for those occasional transactions that require too much money which you may not have.

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