What are the benefits of using Credit card instead of Saving account key cards or,...?

Question

What are the benefits of using Credit card instead of Saving account key cards or,...?

Answer 1

The difference between credit cards and debit cards is where the money is coming from! Debit cards do not utilise credit and therefore do nothing to help you establish a credit rating. when you make a purchase with a debit card, you lose control of that money immediately since it is pulled directly from your account!

Now with a credit card, you are using the banks money and you are establishing a crredit history at the same time. Getting a chargeback is easier with a credit card and Mastercard even doubles the factory warranty on expensive purchases like electronics for free giving you added peace of miond.

If you pay the money back before the grace period ends then you get to use someone elses money for free! There are many more differences and advantages of both methods and it would be hard to explain all here. I have a free website that puts all this and managing money and your credit into perspective that I think will help you.

Take a look and your particular question is in the Credit vs. Debit section.