Credit or Debit Card? Ultimate guide
May 14, 2018 by Ohood Awayes
Financial technology has come a long way in the last few
years. What used to be a hard procedure that required waiting a long queue at
the bank is now an easy task that requires merely five minutes of your time,
thanks to the option to pay with your debit and/or credit card. Although credit
and debit cards have been there for a while now, there are many people who
avoid using one due to the stories of people who misused a credit card and
ended up with a huge pile of debt over their shoulders. Therefore, we took it
upon ourselves to explain the concept of credit and debit cards and the right
way to use them.
To put it simply, you can consider your debit card as a
magical card that has all the cash you have in your bank account stored in one
thin card. This means that whenever you use this card at the mall to pay for
your items, the payment gets deducted from your account. Besides saving the
time of counting your coins and banknotes or looking for a place where you can
get change for your 50 JD, you can also sometimes use your debit card to make a
While debit cards had many people’s blessings, credit cards
have been quite unwelcome since their onset. Why? A credit card allows you to
borrow an amount of money that you can pay back later. However, later means
within a specific period of time, after which you will have to start paying an
interest rate determined by the card issuing bank. This is where many people
stop thinking wisely and eventually get dragged into an accumulating pile of
Debit Cards vs. Credit Cards
- When you use your debit
card, you’re paying from your money. But using a credit card means borrowing
- A debit card comes along
with your bank account. You can get your credit card along with your bank
account by requesting the bank to do the same. You can also buy a credit card
from other banks without having to open an account that the salary is
transferred to (a credit card without salary transfer).
- You can use your credit
card to pay for any item online, while some websites do not accept debit cards
for specific items, especially when an installment plan is underway.
- Based on the card-issuing
bank, your credit card has more benefits and rewards than you can count. When
the card is used wisely, such benefits can be availed just as easy!
So, how can you make the best out of your Credit Card without getting into
debt? There is a wide variety of options to choose from when it
comes to getting a credit card. If you are overwhelmed, check http://amwalcom.com/ar/credit-cards
to learn which credit card available in Jordan suits you best. Needless to say,
it is your job to act in a responsible and smart way whenever you get to use
the card in order to stay out of debt!
Last but not least, it is important to realize that no
matter how useful you find debit and credit cards, they still have their disadvantages.
You are the one who decides which category you want to discover, the upside or
the downside. The only tip we can leave you with for now is to thoroughly read
the product details that come along the card and understand the terms and
conditions in order to use it smartly and stay away from debt!