Credit Cards vs. Debit cards

What's the point of opting for a credit card over a debit card? Isn't the ability to buy now and pay later more of a disadvantage then a benefit? I know people will say 'if you're disciplined you have nothing to worry about', but our whole consumer driven society is based on people being impulsive and buying things they don't need.

I like more debit cards, but I'm playing with 7 credit cards having a lower than the 10% of the credit limit.

Credit cards are weapons to grow your financial life. I want to buy a house in 2-3 years... so I'm using the credit cards with the lowest amount possible. By that way, I have low debt and I'm demonstrating I do not overextend my self with credit, but at the same time, I give some profit to the lenders...

By that way, in two-three years I will have very high credit to get a low APR loan.

For me a credit card is just to grow the credit for the real moments.

[Jeanie]

I agree, credit cards are the way to build your credit for the BIG stuff like car and house loans. Hubby and I are in the process of REbuilding our credit and without a credit card's help. we do have those debit/credit cards and our bills have been in good standing for going on 2 years. We want to put a modular on the property we own free and clear and will need a new construction loan which to me seems like we will need great credit..not sure if we will be there yet. I plan on putting this house up for sale in 2009 so, we will see. Any info on new construction loans would be appreciated and TIA!

I've always been a proponent of cc. I want to use other peoples money as much as possible.

If we're given the privelage of using other peoples money why not use it? Using a credit card is easier, better and safer than using a debit card.

But then, your money will be theirs, but more than you borrowed, Your present and future money.

Credit Card is the best invention... but for the owners of the companies.

However, as I said... best tool to go to 800s and then, get a low fixed rate on your home equity,


If it would be using other people's money... I would call it Wonder Card Using other people's money, as you said, but not owing yours...

You have the wrong mind set. You're NOT borrowing anyones money. Your using it.

If you PIF you pay NO interest. Just play the game to your advantange. Let those who carry a balance subsidize you.

A CC is not a loan. It's only a payment alternative. It's not meant to augment your income.

Yeah... but you end up returning their money to them. You can say, "I'm using money I will have in the future" or "I'm borrowing money from other" But if you are using their money... means it won't cost you a dime, now nor in the future.

Quote:

Originally Posted by Bahamut

Yeah... but you end up returning their money to them. You can say, "I'm using money I will have in the future" or "I'm borrowing money from other" But if you are using their money... means it won't cost you a dime, now nor in the future.

Again, I think you have an erroneous mind set of what a credit card is and isn't.

Of course you have to pay them back. They're not giving it to you.

I'm never using money I will have in the future. I have the money NOW. I'm never "borrowing" money from others. I'm using someone elses money to satisfy a debt. I'm consolidating all that debt (purchases, or whatever you want to call it) and then PIF at the end of the month.

You are absolutely correct. It doesn’t cost me a dime NOW or in the FUTURE. I typically use 4 cards, Amex, 2 Visas and a Discover. None carry an AF. I buy something, I get buyer protection… free. If I rent a car, I get the insurance… free. If my cards are compromised for whatever the reason, I have no liability… free. If I have a dispute with a merchant and can’t get resolution, I can request a charge back… free.

The use of a credit card is to facilitate your life, not to augment your income or allow you to live beyond your means.

according to me both debit card and credit card have their own advantages.
debit cards we can use as credit cards but there we can spend spend only the amount we have in our account, so in this way we can control our expenses.

but credit cards we then when we dont have anything in our debit card account or we dont ave any cash. but mostly it is seen that people buy more stuff when they have credit cards , but this can be controlled if we have discipline.

yeah I agree. Both types have their own advantage.

We cant control on your buying with credit cards. So i'd prefer debit cards.