Credit Cards vs Debit Cards and Why You Should Stop Using Debit Cards Immediately
The Credit CARD Act of 2009 also made it harder for those under 21 to get a credit card by prohibiting credit card companies from giving out free swag on college campuses and requiring proof of income or a co-signer to get a credit card. Thus, a whole new generation of adults do not see any reason to have a credit card. Instead, they are using debit cards.
Here is why I believe credit cards are not always bad and why you shouldn’t use debit cards.
I estimate I’ve been shaving for over 2 decades now. When I started growing facial hair in high school, my father handed me a Gillette Sensor Excel razor which was a free sample that arrived one day in the mail. If you think about it, that is a pretty ingenious marketing strategy if assuming I shaved every other day, replacing the cartridge once a month at $2 each, I would have spent $480 just on the razor cartridges alone over the years.
It was just over a year ago when if you wanted a SSL certificate for your blog or website, you had to pay for it with your hard-earned dollars.
One of the best ways to save money is buying things when a store or company offers a rebate on an item. Years ago, the rebates would come in the form of a paper check that you take to the bank and deposit. Lately, more and more rebate vendors are sending rebates as a prepaid debit card.