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Save Money at Checkout
By Molly's Brother | January 14, 2008
Every time we use our debit cards, we have to make a simple financial choice at the checkout: credit or debit? There are benefits to making either choice and only you can decide which one works for you.
Choosing the credit option:
- usually provides the added layer of consumer protection that comes with credit cards (even though your debit card is not a credit card).
- makes your purchase available for any promotions that your bank may be running. For example, I know that INGDirect makes all credit purchases available for a sweepstakes. Other banks run other promotional rewards.
- saves you money. Many stores charge you a minimal fee for processing “debit” purchases. Over the course of the year this 35-cent fee can add up to hundreds of dollars.
Choosing the debit option:
- pulls money out of your account more quickly. If don’t religiously balance your checkbook, this may be a better choice for you!
So, now you know. There are differences between the “credit” and “debit” options at the checkout stand.
Topics: Credit Cards |