It can be very confusing trying to decide what types of financial accounts and financial devices are best for you as you go about taking the time to compare credit card options. In this regard, you may be wondering about the benefits of a debit card and the benefits of a traditional credit card. Indeed, you may be wondering whether a debit card or a credit card is right for you. You may be wondering whether or not you should have both a debit card and a credit card. Through this brief article, we present you with some points to ponder when it comes to a credit card versus a debit card and which card is right for you.As you do compare credit card options, you need to note that debit card has the look and feel of a student credit card — and in this day and age can be used in many of the same places and locations that do accept credit cards.However, a debit card does not function in the same manner as a student credit card. A debit card is connected to an account that normally is located at a bank, savings and loan or credit union. When you make a purchase with a debit card, the amount of that purchase is withdrawn out of that account. In addition, you normally can obtain money from an ATM with your debit card.On the other hand, a traditional, unsecured credit card does not require you to have funds held on account in order to use the devise. (Of course, the exception is a secured credit card. With a secured credit card, you do need to post money with the credit card company. But, when purchases are made with a secured credit card, money is now actually drawn out of the cash that you have posted.That money is only accessed if you default on your regular payments to the credit card company.) With a traditional credit card, you can make purchases or obtain cash advances up to the credit limit that has been established by the credit card company.)In reality, depending on your circumstances, it actually might be wise for you to have both a debit card and a credit card. The fact is that having just a debit card or just a credit card really should be the exception and not the general rule.There are benefits that can be derived from having both a credit card as well as a debit card. For example, by having both types of cards, you can use your student credit card for emergencies and for major purposes for which you may not have all of the cash you need on hand for such a purpose. Your debit card can be used for smaller and for day to day purchases.By using these cards in this manner, you will be able to build your credit and raise your credit score — provided you pay your credit card bills in a timely and appropriate manner. In addition, you will be able to live your life on a reasonable and responsible budget by monitoring and controlling your spending with the aid and assistance of a debit card.
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