Should I spend using credit or debit card?

Whilst both the debit card and the credit card has its own advantages and disadvantages- one method of payment may soar a little higher as opposed to the other. Both are used by millions and millions of individuals in the world; but which is more favourable by the general public?  

Although both systems have their own differences in nature;  debit card acts like a checking account whilst credit card allows you to make payment prior to directly paying for it, they sure do have similarities as well- by both embodying an efficient system of their own.

credit card

What’s the deal with debit cards?

With debit card you wouldn’t have to worry about the amount you have to payback in the end of the month- you are paying solely from the amount you have; there’s nothing notably fascinating as your card just stops working when you run out of money. If you have a problem with overspending, this is perfect for you as you have a restricted amount of money to spend!

Debit cards are an affordable alternative as there are no annual payments incurred for usage- the process to getting the card seems to take less than a second!  Not only is it convenient but it is extremely practical, all you have to do is just carry one card and you are good to go!

The hype on credit cards

You can purchase any and everything you wish to- once in awhile they even offer rewards (discounts, deducted travel fees!) ! Large or small, a credit card allows you to have significant purchasing power. How does it work? They allow you to spend as much as you desire in a month and only having to repay a month later. The motto really is ‘Live now and worry later.’

Security is implemented more sternly; for debit cards it is easy for thieves to get access to your money by just retrieving it from the ATM machine- and they will be able to make purchases almost immediately. For credit cards, the system compromises by giving you an additional amount of time to act on the case and  to terminate your account.

Conclusion

You’ve seen the best of both sides, it’s time for you to pick one, or both to enjoy the best of both worlds! It all comes down to the intentions you have and totally dependant on your spending pattern. Banks like RHB via URL https://www.rhbgroup.com/products-and-services/personal/cards/credit-cards offers one of the best services if you are planning to get a credit card or a debit card, or both.  You will not have to go through the hassle of carrying your wallet everywhere now!