Credit Cards > Debit Cards

[Cartier Murphy]

debit cards curbs your spending because it's your actual money.

can't get into debt with debit card.

they give you software to shut off the card so if it gets stolen it can't be used or spending limits or block online or gas station transactions or geo fencing.

with cc, to get cash back you have to SPEND

cc is one of the reasons why cost of goods increase, that fees the merchant pays to the bank/visa/mc is going back on the cost you pay.

debit cards are the way.

If you live within your means using a CC then you’ll never get into debt with it. There’s a lot of financially illiterate people with one tho who don’t know how to use them and then that’s where you hear stories about it from. Don’t spend more than you can afford and you’ll be straight, but when people get a CC that has a limit higher than their used to, instead of using it on simple shyt like gas or groceries they start thinking “fukk it I’m due for a vacay ” without having the capital to pay it off and then that’s where you run into problems.

 

[feelosofer]

I only keep 2 credit cards, one for the business and one for personal but as long as you only use what you need and not overspend, they can be a tool like anything else.

 

[Clark Wayne]

Speaking of credit line increases, don’t be afraid to request one every so often.

Still use the card like you normally would, but having more credit with less utilization will help increase your score.

I used to just wait until the credit card company would do it themselves but now every couple of months I’ll go in the app and ask for one. .

 

[Wildhundreds]

also, when I got the BOA card, they said u get $250 cash for spending $1000 in the first 3 months. thats free money right there.

BOA tried to play me with that very offer.. Had to talk to numerous services reps, and wrote a letter to a couple of agencies, to get my offer..

 

[astrologybrother]

BOA tried to play me with that very offer.. Had to talk to numerous services reps, and wrote a letter to a couple of agencies, to get my offer..

BOA is also funny style with their mortgage department. Straight clown status.

 

[Tribal Outkast]

It’s aight if you wanna have a no frills card for every day use. But it’s major benefits come when buying Apple products or shopping at the Apple store, so unless you’re doing that semi often there’s better daily drivers out there. Even a Citi Double Cash gets you 2% everywhere, 1% when you spend 1% when you pay it off, that card is basically the standard for most Cashback cards.


Unless things have changed since I first started signing up for cards, I don’t think a 19 year old would have much access to a credit card of their own anyway. I didn’t get my first until around that age and all my first ones were department store credit cards at the mall, and I had a card tied to one of my moms accounts she opened for me that still helps my credit till today. At 19 your odds of getting approved for most major CCs are low since you have no credit history for the most part, so I can’t see much going on there unless you got somebody else’s card in your hands.

So Apple is out here Appling basically lol. I appreciate the info famI mean I want a new MacBook but I don’t know if I want to get a credit card just to get it.

 

[beenz]

BOA is also funny style with their mortgage department. Straight clown status.

I've been working on a refinance with them for 4 months now. I'm FINALLY closing on thursday. this shyt should have been simple as hell since they have access to so many of my accounts, plus my two merrill accounts as well.

but this is the bullshyt u gotta put up with in order to save a shytload of money on ur mortgage.

 

[97Pac]

I can't even remember the pin to my debit card.

 

[Rawtid]

The thought of my savings acc getting wiped out through a debit card hack
fukk that shyt

Keep your debit card attached to an account just for spending. My bank does that.

I'm financially insecure, don't like bills and will always prefer cash and debit cards to credit cards. I'm a simple, impoverished negro.

 

[Buzzed Lightyear]

I read the reviews on the Amazon card and they were horrible.

How?

 

[CashmereThoughts]

Speaking of credit line increases, don’t be afraid to request one every so often.

Still use the card like you normally would, but having more credit with less utilization will help increase your score.

I used to just wait until the credit card company would do it themselves but now every couple of months I’ll go in the app and ask for one. .

I wait 90 days before I ask.

 

[invincible1914]

I cosign this thread. I flat out don't even carry debit cards anymore.

 

[invincible1914]

What did they say?

Amazon card is a beast. Use it for everything and you will basically eat of Amazon and it will pay off your membership fees.

 

[invincible1914]

Just want to lay out the gameplay for brehs.

Credit Card Pros:

1. Not using your cash.
2. Fraud Security
3. Purchase Protection
4. 1-5% cash back
5. Cardholder Points
6. Every payment builds credit history
7. Balance Transfers to turn credit into cash for a fee.

Credit Card Cons

1. Gotta pay in full to avoid paying interest
2. Must make a payment or mess up your credit score.
3. Never ever ever do a cash advance.
4. Not for the undisciplined.

Debit Cards Pros:

1. Direct Access to checking account money.
2. Can't spend more than you have in the bank.

Debit Cards Cons

1. Direct Access to checking account money.
2. Any fukkery, your cash is gone and gotta wait for bank to clear up.(could take weeks) Credit cards not tied to bank account.
3. No cash back.
4. No points.
5. No credit score boost.

Conclusion:

Credit wins because when you gotta big bill and got the cash(or not). You can put it on the card and pay it back over time.

People travel for free cause they put monthly bills and big tax bills to accumulate points over the year.

Debit Cards just for atm visits and that's it.

Anybody got other hacks or disagree?

One more thing that works for me... if you over spend overspend on your debit, you are dipping into your savings. If you overspend on on your credit card, you have a grace period to catch up. Worse thing to happen is you pay interest on the bill 2 months later.

 

[Th3G3ntleman]

Haven't used my debit in years. Don't even know the pin. I treat my credit like my debit. Spend only the amount I know I will pay off and have all my auto pays hooked up to it. Helps build your credit, keeps a buffer between your actual money and identity thieves, rewards. There really is no reason to use a debit card unless you lack impulse control.