6 Reasons Why You Should Use a Debit Card More

Nowadays, you don’t need to carry cash to buy stuff or get things done. Cards, including debit cards, have changed the way people carry out financial transactions. These cards are widely accepted; it’s very rare to go somewhere and find out they don’t accept debit cards. If you have been using cash for most of your transactions, read on to learn about why you should use your debit card more.

1. It’s Safe

Carrying a debit card is safer than using cash. Walking around with cash can not only be risky, but inconvenient too. It’s even worse when you carry it in large amounts, and it is clearly visible. With your debit card, you can have a huge amount of money in your bank account, and no one will know. And if you misplace your card, you can cancel it and get a replacement. If you misplace cash, you can be almost sure that you’re getting nothing back.

2. You Can Get an Overdraft

If you have exhausted everything in your debit card and you need to make a transaction, you can get an overdraft. You may be charged some interest on the amount you get but can still get a no fee overdraft. Overdrafts with no fees offer you convenience and save you from spending more money on interest.

3. You Can Earn Interest on Your Account

some banks offer interest on your debit card account. They require you to have a minimum daily balance. In return, you get to enjoy the convenience of using a debit card while helping you earn money in the form of interest.

4. It’s Secure

Debit cards are very secure. You have to put a pin when using a debit card to finish a transaction. That makes it a bit difficult for unauthorized people to use your card. Also, whenever a transaction takes place, you will receive a notification, which can greatly help you in case of any illegal transactions. Some cards even have advanced features, such that only you can use the card. Others have chips that offer more security on top of pins.

5. You Avoid Unnecessary Debts

When using a debit card, you can only spend what you already have. That ensures that you stick to your budget and don’t get into unnecessary debts. You are also more disciplined on your finances, which may not be the case with a credit card.

By avoiding overspending and getting into debt, you also do your credit score a favor. You won’t have a track record of late payments and things like that.

6. Easy To Obtain and Use

Obtaining a debit card is very easy. As long as you have a bank account, getting one is straightforward. This might not be the case with a credit card. Using a debit card is also very easy. Finalizing the transactions is almost instant, which prevents annoying delays and saves time.

Using a debit card has several advantages. It is safe, secure, and easy to use. Also, it prevents you from getting into financial problems caused by overspending, and you can get overdrafts when your account is exhausted and need to purchase something.

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