Pros & Cons of Using Debit Cards | Advantages & Disadvantages of Debit Card

Pros & Cons of Using Debit Cards

Debit cards permits you for instant withdrawal of cash act as ATM and immediately transferred from the cardholder’s instead of them paying money. This process is very hazardous, so you need to know Pros & Cons of Using Debit Cards. We use debit card for completion of expense, so let’s discuss the Advantages & Disadvantages of Debit Card on this page. Debit card fraud can put a major crimp in your overall purchases, so always aware before using your card and update yourself related to account detail time to time.

Pros & Cons of Using Debit Cards

Having a debit card in your wallet is the best tool for making purchases ease and expediency. It is just look like a credit card but works as electronic cheque because the payment deduct from your account automatically. Your debit card directly connects you with bank account and aware you that how much money you have left in your account, so that you avoid overdrawing the account.

Advantages of Debit Cards


Major advantage of debit card is you don’t need to carry large amount of cash. It is so simple in use just swipe card, your payment done and deduct money from your account automatically. It is more convenient than credit card because you don’t need to make payments to another creditor per month.

No Debt issue

Its second biggest benefit is that it doesn’t let you go into debt. You debit card permits you to spend what’s available in your account. If you signed up overdraft protection, your card will stop working when you spend it over the limit. This will assist you to control yourself on your expenses.

Protection via PIN number

When you apply for debit card, bank will give you protection by providing PIN number or six digit identifier number. Just input your pin number removes money from an ATM and pay your bills. If your debit card is stolen nobody else can use your card because without pin number he is unable to purchase.

Budget friendly

You can spend only that amount which you have in the associated bank account. This protects you from accumulating debt and high amount of interest rate. Opting out of overdraft coverage and linked account ensures that you can’t overspend.

Spend Within Your Means

This will ensures you spend within your limit. Using this card guides you only spend that money what you possess. This keeps you far way from debt and become your financial status healthy.

Time friendly

 Debit cards are accepted by merchants with less scrutiny than are checks or credit cards. And swiping a card is much faster than writing out a check.

Easily available

You can easily get debit card from your bank. When you open your current account or saving account the bank provides you option of have a debit card linked to your account, without facing and difficulty like filling a lengthy application form etc.

Disadvantages of Debit Card

View on Records

Using your debit card, you must aware about your each transaction so you will not be in danger of over drafting. Because you really need to know that how many balance is left in your account. If you over draw from your account you will have to pay accumulate banking fees. Sometimes you would have to given $100 for each transaction that you’ve gone in the negative

Hidden fees

 If you’re not using an ATM affiliated with your bank then you’re going to have to pay a fee. On top of that, many banks then charge a foreign ATM fee. These fees can get as high as ten dollars a pop. Always read the fine print before you take cash out with your ATM debit card.

Liability issues

In the case of lost or stolen of debit card, thief can use it as he want. Thief can use your card for his personal expense. Debit cards and credit cards are of some bank looks like. Your card is use as credit card in specific condition. You are liable for all the costs in this situation.

Internet scams

If you are an online shopping lover and use the debit card for your purchase then you have to careful from internet scams. Internet frauds are available everywhere they can easily stole your information.

High Deposits

Sometimes happen we went for a picnic or tour. At the time of booking a room in hotel some places that don’t accept debit card. Your kid wants to grab a treat and you are unable give them because you can’t use your debit card.

Using a debit card is much easier and faster than check so that people usually prefer debit card. You are eligible to pay for your purchase without paying any interest. It’s one more important feature is that you can use your card to get cash like an ATM.


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