Using credit cards the correct way

Inside the debit card

Debit card funds/payments come directly out of the checking account or savings account that they are associated with. These cards can be very useful because they can be used like credit cards and are accepted anywhere credit cards are accepted. But, they are cash so you are not acquiring a debt when you utilize one.

On the other hand, you do not want to forget that you are still spending money when you use them. You have to keep detailed track of the transactions when you use check cards too. If you have more than one card, you have to be certain that you are keeping track of which account has what transactions on it as well. Debit cards have either the Visa or the MasterCard logo on them, which makes them easy to mistake as another one of your credit cards, so be aware. Most debit cards have your bank’s name written right on them as well as the words check card. In case you have a check card and another credit card at the same bank, be sure that you can tell the difference. These days, most banks design their check cards to look differently than their regular credit cards so this will help you. Be sure the money is in your checking account before you go and use the check card too. When you do use it, write that transaction in your checking account at once.

Many people who use check cards tend to use them without keeping up with the transactions and the money goes a lot faster than these people tend to think is does, so again, be careful when using check cards. They are almost too convenient for some consumers.

You want to be certain of your bank’s rules and regulations regarding the check card too. If you overdraw the account stiff fees will apply.

You never want to overdraw your checking account when using your check card because each and every transaction on that card that does bounce comes with its own separate overdraft fee. These fees are typically between $29-35 depending on the bank used. If you use your check card one week end and you over spend, you may find that the next business day, you have an automated debit for a bill or online bill set up that will bounce due to your over spending weekend and there will be a massive amount of fess stacked up on the card. Again, check cards are convenient and free of interest, but if you misuse them, you will find yourself with a lot of overdraft fees.

Check cards are best when used properly as with any other credit cards you may have.

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