hey guys, What's the difference between credit & debit card? and What's the best one? i have a VISA ELECTRON card ..
Credit card allows you to use money on credit (loan) whereas a debit card just lets you use your own money by debiting the money instantly from your bank account attached with it. Regards, RightMan
Credit Cards are the best to use. A debit card will not build up your credit rating but a Credit Card will.
Credit card is most of the time better as you can challenge unauthorized charges more successfully than many debit cards. Also many debit cards will "hold" your money because of gas stations putting a claim on twice as much money as you actually spent.. it can mess things up a bit.. Just as an example.. Hope this helps Mike www.mycfwellness.webs.com
Credit cards are best to use...if used wisely. I always make it a point to use the credit card to use funds for free.... for 30 days, even if I have balance in my account! Regards, RightMan
Ok great, i will request for a such debit card like Payoneer for trying it.. what your point of view about the ePassport VISA Electron card ?
I would stick with a CC for online stuff, more secure and you don't run into near the issues that you do with a debit card. Get a CC with good fees and rates and keep it paid up and you should have no problem
To get a cc with the best fee structure, you should contact your own bank with whom you have been banking since long. They would surely be able to offer you the best package... looking at your credit history! Regards, RightMan
You can't really suggest a cc without first knowing how your credit is? Do you have little credit, no credit or bad credit? If that is the case then you will need to get what they call a secured credit card before any major credit card will even look at you. My first secured credit card was through Applied Bank(I'm not recommending Applied Bank, especially if you can't make your payments on time). A secured credit card is not cheap either the fees are high so make sure you read all the fine print before signing up for one. When you make a payment make sure it is atleast 3 times the amount what is initially owed that first month, to compensate for any fees they tack on. So say your first payment due is 30$ make sure you make a payment for 90$ and ect.. Make sure you know the difference between a prepaid credit card and a secured credit card. A prepaid credit card does not build up your credit one iotta! A secured credit card will build up your credit score if you make on time payments. Make sure you research the credit card company too. Type in Google "'name of card' scam" and or type in "'issuing bank' scam". There are alot of scams going on specially targeting people with no credit and bad credit. A secured credit card basically works like this...you pay lets say $500.00 to the secured credit card company upfront and they give you a limit of $500.00 to spend. A unsecured credit card is based on your credit score , the higher the score the better rate you will get if you get approved. Let me tell you this, you are truly wasting your time if you go out and apply for a cc without knowing your credit score. Each time you try and apply for a cc or loan and it is denied, the lower your credit score goes. So finding out what your credit score will enable you to decide if it wise to take the risk of applying for a unsecured cc. Like I said if you have no credit or bad credit then you will have no choice but to go the secured route to increase your credit score or get a loan with a A+++++ cosigner to increase your credit score. If you know someone with an excellent credit score you can take out a loan with them as a cosigner, this will allow you to build up your credit score too. But don't apply for a loan with someone as a cosigner if they have missed even one payment in the past..because I know from experience they will deny the loan application. You really have to look the rates and fees up yourself because they can change daily, read the fine print. A last month offer someone was given now can be much higher interest rate and with fees added.