Top Reasons Why Debit Cards Are Better Than Cash
Technology has been changing the way people handle transactions. It is highly recommended to have a cashless option, especially when traveling. A debit card is one of the best methods to use today. This means that every time you pay, the money will be deducted from your account.
So, are there any benefits of using this method as compared to carrying cash around to make payments? Indeed there are. Let us dive deeper into common benefits you are likely to enjoy.
Safety and Security
It is a no-brainer that cashless transactions are safer than operating with cash. When you carry cash around, there is a higher likelihood of it being stolen by pickpockets or other thieves who might access your wallet. It could also fall on the ground and get lost. On the other hand, carrying a debit card only is a safer and more secure option. The banks that provide the card have installed safety options to avoid fraud and even access to your money by hackers. Users should feel safe and secure when using their debit card around the world.
Convenience
There are a lot of conveniences that come with the use of a debit card. Whether it is a Visa or MasterCard, which are the major transaction processing companies, they operate globally. Thus, buyers can access thousands of outlets that accept debit cards. It could be a supermarket, clothing store, restaurant, or one of many other places. Almost every seller today accepts debit cards including online vendors. This means a lot of convenience for millions of buyers across the world.
Improving Your Credit Score
Responsible use of a debit card may promote the improvement of your credit score. Although it does not do it as well as the credit card does, you can use the debit card to pay your bills and loans in a timely manner. All you need to do is walk into your utility bill company and swipe your debit card. If you consult the experts at boostcredit101.com through their FAQs page, you will be in a better position to understand this.
Responsible Use of Finances
Depending on how the user looks at it, debit cards promote responsible use of finances. Unlike loose cash which gives you the urge to spend, a debit card discourages this. People only use it on the necessary things that should be bought anyway. After all, it will hinder you from spending money on small items that are not necessary for your life. Thus, it is better to carry your debit card and only a little cash reserved for emergencies.
Image: Hloom via Flickr / CC BY-SA, 401(K) 2013 – Top Reasons Why Debit Cards Are Better Than CashPortability
Cash can be bulky depending on which country you come from. Sometimes, the money you need, especially when traveling, cannot fit in your wallet. So, why don’t you put it in the bank and make use of your debit card? It is just one card that you slip in your pocket or card holder for convenience and portability. The size of the card will not change no matter how much money you have in your account.
These points clearly show that debit cards are better when compared with cash. That is why it is highly recommended that you should have one right now.