And, unlike debit cards that often carry a maximum daily spending limit, credit cards are perfect for purchasing larger items. No wonder so many of us reach for our credit cards when purchasing items ranging from clothing to cars. ![]() That's because they limit your purchases to what you can afford at that moment, preventing you from spending beyond your means.Ĭonvenient, easy to use and widely accepted, credit cards pack a whole lot of purchasing power into a paper-thin slice of plastic. It means having the same buying power as cash, without having to find a branch or ATM to withdraw the money from and carry your money around.ĭebit cards are also a good fit if you're carrying debt. Rather than charge your purchase to your credit card and face a future bill, you can have the money debited immediately from your bank account. Say, for example, you've had your eye on a new pair of jeans. The best part about debit cards (also called ATM cards) is that you're spending money you actually have. Payment cards also allow you to track your purchases online, which can help with budgeting.īut how do you know when to use your debit card and when to use your credit card? You can make purchases, rent a car, and reserve a hotel room, to name just a few benefits. First of all, payment cards are a much safer option than carrying around large sums of cash.Ĭredit and debit cards also offer convenience and flexibility. ![]() ![]() Many consumers make the switch from cash to debit and credit cards, and for good reason.
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