Re: Credit Cards vs. Debit Cards (Re: The HELL With IHOP!)

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Article #166

#166

From: David Meyers
Date: Thu, 18 Nov 1999 00:00

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postingid@dissensoftware.com (Binyamin Dissen) writes:

> I am curious.
> 
> In what situation would a debit card be better than a credit card.
> 
> As I understand it the purchase will cost the same. And both are accepted.
> 
> With a debit card the person loses use of the money immediately, while with a
> credit card the person loses use of the money about one moth later.

Moreover, many credit cards offer other perks as well, either
cash back or FF miles or credit towards purchases.  Whatever.
On top of the protection that if fraudulent charges are made,
you don't pay them, rather than losing the money and having
to ask for it back when they finish the investigation. 

> What advantages do the debit card hold so that anyone, in any financial
> situation, would benefit more from using it rather than a credit card?

The one situation would be if you are already carrying a balance
on the credit card because you don't pay it off in full.  Which
is why, when I asked the same question as you, I asked with the
caveat that the CC user pays his bill in full every month.  As
yet, I've been offered no suggestions of a scenario in which
the debit card has an advantage.

--d

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From: David Meyers <dmeyers@panix.com>
Subject: Re: Credit Cards vs. Debit Cards (Re: The HELL With IHOP!)
Date: 1999/11/18
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