Why I Ditched My Debit Card


All about that credit card life

I'm going to make a confession: I don't use my debit card. To be honest, I haven't used it in years. And while that's not something our Card Solutions Manager here at Visions will like, the fact is, I'm all about my credit card.

Here's why I broke up with my debit card and haven't looked back.


Rewards

This is the big one. If I'm already spending money, why shouldn't I spend in a way that will make me money? As my colleague pointed out in another blog post, credit card rewards are great for a number of reasons. From stocking up on gift cards for the holidays, acting as a mini-emergency fund, scoring discounts for travel – rewards are the reason I reach for my credit card every time.


It's good for my credit

To be more accurate: it's good for my credit because I try to use it responsibly. You see, when it comes to your credit score, making your payments on time and keeping your utilization in check can make a big difference. By keeping it active, making my payments on time (or early), and keeping my balance low, I'm ensuring that my credit score stays where it should.


It's secure

Here's the nice thing about credit cards: they have a limit. And if I experience fraud on my account, I know that I can shut it right down and get provisional credit. That means I don't have to risk my account going into the negative, having one of my bill payments bounce, or anything like that. For me, it's peace of mind.


It's mobile wallet-friendly

Let's be clear: you can put your debit card in your mobile wallet, Apple Pay the day away, and still enjoy how secure and convenient contactless payments are, but there's something about the additional layer of security that gives me the warm and fuzzies. That and I can still benefit from rewards.

Did I mention I really like rewards?


I'm not recommending that everyone ditches their debit card for a credit card. Heck, I have good friends who prefer to use their debit card because it acts as a mini-allowance for them. They like setting up a certain amount of money in their checking account and knowing that once they've spent it all, they're done. And that's great!

For me, though, I'll be sticking with my credit card. We've got a good thing going.


-Devin M.

MoneyTalks Financial Blog Articles

  • Should I Submit an Insurance Claim?

    Quality insurance agents will be there for you when you need them most. In many cases, filing a claim is simple. It may be as easy as using an online portal or mobile app to submit your information. Beyond that, your insurance agency should offer the support you need, look out for your best interest, and point you in the right direction after events like a hailstorm.

    A couple at home working on a laptop drinking coffee
  • Financial Strategies for Raising Children

    Although raising kids is unlikely to be a low-cost lifestyle, you can use smart financial strategies to reduce expenses and make your budget more manageable. Consider these helpful ideas for your family budget. Know your family’s finances, look for cost savings and tax relief, and plan your budget – together!

    african american family hugging
  • Insurance Myths Debunked

    While insurance is essential to our financial well-being, it’s often surrounded by myths and misunderstandings that can lead to confusion – or worse, financial mistakes. Let’s set the record straight and debunk some of the most common insurance myths so you can be confident that your coverage is exactly what you need.

    file folder with the words myths debunked on a piece of paper