• Credit Cards are safer.

    I had a rather scary experience a few years ago, where a fraudulent transaction of almost £900.00 had almost been debited from my account. Luckily, the details the fraudsters had was my credit card. The credit card provider had realized, something wasn't right, contacted me and stopped the transaction taking place, with a credit card there is invariably more protection from fraudsters. More recently, I was the victim of a 'Lebanese Loop', which is where fraudsters, fitted a device to an automatic teller, retained my debit card and tried to illicitly withdraw funds. Fortunately, I only had £80.00 credit with that account and suspected something wrong, so the funds were re-imbursed, within 48 hours. All the same it was an inconvenient and worrying, particularly if had a large amount of fund, credited to the account. Invariably, with debit cards you can budget better and avoid interest payments, but there is certainly more peace of mind with a credit card against fraudulent transactions.

  • Debit cards are more realistic for economic well being than credit cards

    Debit cards represent the real spending of an individual. They are the same as cash. They lead to the necessity of budgeting within ones means rather than spending ahead and then having to play catch up. In addition, they have the advantage of not accumulating interest debt. When using a credit card and not being able to pay off the balance every month, a person can go into deep debt in a short period of time. When using a debit card, if the person can't afford the commodity, they can't buy it. It's a simple way of controlling debt and forcing people to think realistically about their purchases.

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