That didn’t work out right, did it?



I remember when debit cards were introduced. There were ads everywhere
that said that you could avoid the embarassment of not having a credit
card, even if you had poor credit. Get a debit card and nobody would
know!



Except now what happens everytime you use a debit card or a credit card?
The first thing they ask is “debit or credit?” Luckily, the truth is
that a debit card isn’t really a “fake” credit card, it is a tool to
help handle your money. Lots of people have debit cards now, some even
have both. It depends on your needs, so I don’t think there is any
embarassement anymore. Good thing, huh?


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One response to this post.

  1. Posted by Alan Burlison on October 6, 2004 at 10:59 am

    In the UK a debit card allows you to draw money from your current (checking)
    account from a cash machine (ATM), and to pay for goods electronically from
    your current account rather than by writing a cheque. Here the implication
    is the other way around – if you use a debit card it means you have to actually
    *have* the money to pay for your purchase, if you pay by credit card there
    may well be an assumption that you can’t afford it and are buying it on the
    ‘never never’ (credit). Here in the UK we have a 200 billion Pound credit card
    debt problem, that’s 356 billion Dollars – see
    http://news.bbc.co.uk/1/hi/in_depth/business/borrowing_debt/default.stm

    And no, I don’t owe anything on any of my credit cards, so it’s not me 😉

    Reply

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