Debit Cards

The debit card is a fairly recent innovation that has become incredibly popular with consumers. They offer the convenience of a credit card but instead of being linked to a credit account they are linked to a bank account.

When you make a purchase with a credit card, the amount of your purchase is charged against your line of credit. Your balance grows with each purchase, plus you are charged finance charges if you carry a balance.

Though they look just like credit cards, debit cards work quite differently. With a debit card, the price of your purchase is deducted directly from your bank account. Debit cards act as a substitute for cash, allowing consumers to access their funds on the spot and not have to worry about carrying cash.

Basically, debit cards are glorified ATM cards. ATM cards are only able to withdraw cash from a cash machine. Debit cards can be used at ATMs too, but they can also be used to pay for lunch at the cafeteria, buy groceries at the supermarket, and fill your gas tank for the ride home.

In order to use your debit card you'll need to remember your PIN number. But don't write the number on your card or anywhere in your wallet or a thief will be able to quickly drain your bank account.

Debit cards are very useful for people with poor credit. Even though they can not qualify for a regular credit card, they can still enjoy the convenience of not having to stop at the bank or the ATM to get cash.

In addition to the convenience factor, most debit card issuers do not charge fees when you use your card and there are no finance charges to pay.

Debit Cards and Kids When teaching your children how to manage money and be financially responsible, debit cards come in very handy. You can set up a small bank account for them to use with their debit card. They will have to learn to manage their expenses to avoid cleaning out their account.

The amount they can use is limited by the amount they have in their bank account, so you can start with a small amount until prove they can handle it responsibly. This can work better than a credit card which will usually let you go over the limit, and also charge you penalty fees for doing so. Recent Credit Card News

Rupeetalk Credit Card Glossary :Cashback - Cashback ? It is a type of rewards programme in which a cardholder receives cash rebate equal to a specified percentage of the amount charged to the card on an annual basis or otherwise as mentioned in the credit card clause. [Read More...]

CardZ.com is the best site for finding Cash Back Cards - In this troubled financial economy I'm looking for each and every way to save money. Since i use credit cards for purchases i decided to find the greatest and newest credit card deals out there. Cardz.com provided just that! I can compare the best credit card offers and find the one that suits my spending habits. Give me my REWARDS! [Read More...]

Microsoft Paying People to Search in a New Manner - Microsoft's latest effort to get people to use its search service is something called SearchPerks, which gives people points for using the search engine that can later be redeemed for prizes, and it works very much like a credit card reward program... [Read More...]

Credit Card Applications - Compare credit cards by rates, annual fees, rewards. Credit Card offers with features like 0% intro APR, 0% on balance transfers, no annual fees, or credit ratings. [Read More...]

Conquer Azeroth, Get Low Monthly APR With World of Warcraft - Themed credit cards are nothing new, but the First National Bank of Omaha has come up with an interesting new twist aimed squarely at gamers - a card that offers World of Warcraft game time rewards. [Read More...]

Balance Transer Credit Cards - The Chase Platinum Visa® and Union Plus® MasterCard® credit cards are new great balance transfer credit cards. Both offer balance transfers with a 0% APR for up to 12 months based on your application and credit history. With no annual fee for either card, both cards also offer rewards points for every dollar spent. [Read More...]