Using Your Debit Card Wisely

Credit Card Debt

Using Your Debit Card Wisely

Debit cards are one of the most convenient ways of paying for services and products aside from credit cards. Carrying your debit card around is as good as carrying cash minus all the bulk. The difference debit cards have with credit cards is that the money is directly taken from your checking account.

The benefits of  using your debit card versus your credit card is that there is no need to show your ID card for verification, there are no finance charges and it helps you avoid overspending.

While using your debit card is a good idea, you must use it wisely. Here are 4 key things to do with your debit card.

Check Your Balance Regularly

With a credit card you need to be careful not to go over your credit limit. With a debit card, you need to be careful not to spend more than what you currently have in your account. Set up email/text messaging alerts with your bank to notify you when your balance is low. Install your banks’ mobile app on your smartphone so you can always look at your balance.

If Lost, Cancel Your Card Immediately

Since debit cards and slim cards, they can easily be lost. If you misplace your debit card, contact your bank as soon as possible. The 1800 number should be available 24 hours a day 7 days a week. You simply tell them you lost your card and they will immediately cancel it and mail you a new one, free of charge. Banks are really good about this. The last thing they want is a fraudster racking up unauthorized charges.

Protect  Your PIN

With a debit card, you need to enter your PIN number in order to complete a transaction. The PIN process means that a thief not only needs your card – but your personal identification number to use it. The good news is that if you keep this number a secret there’s no way you’ll become a victim. Unfortunately too many people write their PIN on a piece of paper in their wallet or purse. If your wallet were to be stolen, the thief would drain your account of all its funds. They can go to a store, make a purchase and ask for cash back until your account is empty.

1 thought on “Using Your Debit Card Wisely

  1. Nice post here. I agree with the part about your PIN. I hardly ever put mine in anymore, I actually use the credit option if I have the opportunity. But I think too many folks are way too casual about their personal information these days.
    Thanks again for a very good post.

Comments are closed.