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Debit Credit Cards |
More and more countries are now implementing
their own debit card systems that are acceptable to their region.
For example, in Australia and New Zealand, the EFTPOS card is widely
used. Of course, major credit card companies like Visa and MasterCard
have also devised their own debit card system.
Debit cards are actually an evolution of ATM cards. Previously banks
only issued ATM cards, which you can only use with ATM machines
in order to make withdrawals to your bank account. Eventually, the
banks put in more features that enabled bank account holders to
use their cards to make outright purchases in different establishments,
therefore, the debit card was born.
There are still many people who are still in a dilemma on whether
to use a debit card or a credit card. If you are the type who may
have a tendency to forget making monthly payments (which incurs
interest with credit cards) or likely to shop impulsively, then
a debit card is the best choice. In fact, people with bad credit
are encouraged to used debit cards as a way of curbing or controlling
their spending habits.
A debit card is also a great tool for teaching children about how
credit cards work. It teaches children to realise that, as with
credit cards, you have a limit to the amount you can purchase and
that you should learn how to manage your spending in order to keep
your debit card situation healthy. |
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