Instances where you should never use your debit card
When you use your credit card for purchases, you are actually deferring payment till the bill invoice reach and you have the choice of paying in installments for a small fee. However, for a debit bank card purchase the money is instantly withdrawn from your bank account upon purchase.
Big ticket items
Big ticket items should always be purchased with a credit card. This is good for a few reasons. Firstly, you need not pay the full sum from your pocket upon purchase. This leaves the money in your bank account for emergencies that may arise. Credit banking card purchase will allow you to pay at a later date. Secondly, debit card issuers do not offer any form of protection should your purchase be faulty. Bank card companies usually will come to your aid when you report of any such fault
Pay now – arrive later deal
If you are buying big items that you can actually pay for and the item will be delivered to your residence, you must make sure you never pay using your debit bank card. For one, you are not in possession of the item when you leave. Even if the company is an established it pays to ensure that your item arrives safe and sound before you part with your money. Store cards are safer due to their deferred payment characteristic.
Online Purchases
Online purchases are quite evident now and many are buying anything from pills to houses over the Internet. It becomes increasingly difficult to ensure that you are not making payment to a company or a person who is actually a fraud. As such, use either your credit card or online payment methods such as PayPal or Money bookers to make your payment. Most websites would accept such payments.
You have to ensure that your purchase will be safe and to your satisfaction before you part with your money. Only that makes good spending sense. It does not pay to trust an external party with your bank account and be hopeful everything will be ok. Banking cards are there for a reason. Ensure you use it for instances such as those mentioned above.
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