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Perks of Using a Debit Card

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Many consumers enjoy using their debit card or credit card because of the increase in convenience and safety they provide. By performing a cashless transaction, you get the benefit of not having to worry about carrying cash or finding a pen to write a check. However, these two kinds of plastic are not created equal. While you may already be aware of credit card perks, like points and cashback rewards, you may not know that debit cards can also come with a few similar benefits.

Cashless Experience – Limit the amount of cash carried by using a debit card regularly. In the chance you do need cash, you can always stop by an ATM to withdraw the amount needed or ask for cash back when making a purchase at qualifying stores.

Eliminate Checks – Writing a check is a time-consuming and old-fashioned method of payment. A large portion of vendors no longer accept personal checks, and if they do, it takes an extended amount of time for the purchase to reflect in your bank account. Purchases made by debit card take just seconds to complete and your available balance is updated much quicker.

Eliminate Debt– Credit cards make it easy to purchase anything you want, even if you may not have the funds. With a debit card, the money comes directly out of your bank account. So, you can avoid overspending habits by monitoring your available balance in real-time. 

No Application Necessary
– If you have poor credit, it can be difficult to receive approval for a new credit card and the interest rate will likely be unfavorable. Debit cards only require a checking account that is eligible for a debit card.

Fees – Although some checking accounts have fees associated, they are significantly less than most credit cards. Avoiding late fees, annual fees and interest charges can save you a bundle compared to some credit cards.

Hopefully you found this information on debit cards insightful. Debit cards can help you manage your finances and protect against unwanted financial mishaps.

Are you considering trying out a new debit card? All Capitol Federal® checking accounts include a True Blue® Direct Visa® Debit Card.

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Categories: Just For Fun , Safety and Security , Smart Spending

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