Mornings with Dave & Jen

Debit Or Credit?
Debit Or Credit?

When you’re at the checkout and the cashier asks “Credit or debit?”, do you freeze up for a few seconds?

We ALL do…most of us still don’t know the best time to use them.  

Thank goodness for Lifehacker.com, who has this nifty list of the times you should use credit and when to say “debit”:

Shopping online . . . use CREDIT.  Credit cards have much stronger fraud protections built in.  Most have “zero liability” policies for fraudulent use, so you never lose money.  It’s a lot harder to get your money back if someone uses your debit card.

Expensive purchases . . . use CREDIT.  Most credit cards offer extra warranty protection that goes beyond manufacturers’ warranties.  So if something breaks after the regular warranty is up, your credit card might still cover it.

On vacation . . . use CREDIT.  The anti-fraud protection is extra important in unfamiliar places.  But you can also get deals on flights, hotels, and rental cars.  Using debit often means they put a hold on your money until your payment clears.

When the other party needs immediate payment . . . use DEBIT.  Debit transactions go through instantly, but credit transactions can take a day or two to clear.

If you’ve automated your budget . . . use DEBIT.  You can set up your paycheck to be divided up automatically into different accounts, and keep a separate account for fun expenses.  Use a debit card for that account, and just have fun until it’s empty.

If you’re bad with money . . . use DEBIT.  It’s the only way to make sure you never spend money that you don’t have.

If you need to get foreign currency . . . use DEBIT.  When you go to an ATM in a foreign country, a debit card gives you the wholesale exchange rate that banks only offer to each other.  You get a worse rate using a credit card to buy from an exchange.  You’re best off using an ATM inside an actual bank.  In an unfamiliar place, there might be more ATMs that are set up to harvest your card information.

NOW you know!

D&J

Dave & Jen Podcasts

IRD

Ithaca SufferJets

The Ithaca Roller Derby women tore up Dave and Jen’s studio!

meangirls

Hollywood Dirt Report

Are you ready for the “Mean Girls Club”?

naked

The FREAK Files

The “nekkid” truth edition!

jb

Hollywood Dirt Report

Which BIG movie star took a swing at Justin Bieber?

clown

The FREAK Files

Three words: Clown car crash!

More Podcasts

Recent Headlines

in Music, Viral Videos

WATCH: Bret Michaels covers ‘Endless Love,’ serenades van

Fresh
bret

The Poison frontman remakes the Lionel Richie classic, while rocking out at Nissan's car testing facility.

in Music

Beyoncé’s dad will teach you how to break into the biz

knowles

For $350, the pop star's dad says he'll teach you how to make it in showbiz.

in Entertainment

‘Sharknado 2′ sparks feeding frenzy on Twitter, sets record

sharknado

Flying sharks chomping through NYC drew a record audience for Syfy network and became the most tweeted-about TV movie in history.

in Trending, Viral Videos

TODAY’S MUST SEE: Dog brakes

dog

Stella the yellow lab wants to keep playing fetch but her hind legs have other plans!

in Lifestyle

Fly Fido to the moon in space send-off for deceased pets

A Texas company is offering a unique send off for beloved pets by placing their remains in a capsule and blasting them off into space.