Gone are the days when you were supposed to carry an sample amount of cash wherever you go. Today there is various credit tools present in the market which have replaced the cash. In this modern era most used up mode of payment are the two important cards which are debit cards and credit cards. Plastic cards are what they are called and they rule the way we spend our money. Know them better as you use them in your everyday transactions and maximize your benefits.

Credit Cards: Most of you today might be dependent upon the credit cards for your needs. Well, it is true that the credit cards offer great convenience but only if you use it reasonably. Your credit cards carry with them the credit limit up to which you are liable to make your purchases. So technically you do not pay for the food you purchase but your bank does. Obviously when your bank is spent on you it will demand its money back as well and that too with interest.

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Therefore you have to make repayment of your bank for the amount that you have consumed from your credit card before the certain fixed date. But one thing is to be kept in mind that if you somehow forget to make the repayment then you will be under the burden of the huge amount of debt. Generally if you go to any bank inquiring for the type of cards then the first thing that he will give you is the credit card. Credit cards are generally more popularized by the banks as compared to your debit cards because the banks are always in search of the customers who make late payments so that they could extract more money.

However if repayment is not an issue for you and you are capable of making the repayment on time then the credit cards can offer you all the convenience and the offers you want in the world.

Debit Cards: Unlike credit cards, your debit card does not require you to take any kind of debt from your bank. Debit cards are just the cards that provide you easy access to your account. Your debit card facilitates you direct withdrawal from your bank account. The best part about such cards are that you have no chance of going into debt as the money that you use are your own and there is no credit of the bank involved which you have to repay. You might think that your debit card is the best option for you but consider the situation where you do not have sufficient amount of funds to pay for your bills and if you do not make the payment then you will have to pay higher amount of interest and your monthly pay has yet not arrived. This is where we find the importance of credit card.

So which one is better for you?

Both credit cards and debit cards carry their own set of advantages and disadvantages where on one hand you need to repay the debt in credit card, there is possibility of lack of funds by your debit card.

The advantage with credit card is that you can make your important payments even if you have no money with you at the time of making any important payment but along with it you may get addicted to your credit card and make huge use of it. On the other hand your debit cards do you spend the restricted amount but are not of any use if you have no amount in your account.

The option which is better for you depends upon your requirement. What kind of card you need is directly related to what kind of your need is attached to it. Most of the people however prefer the combination of online loans with bad credit as well as debit cards. Both the cards however are the best if you use them reasonably and with the full responsibility.