a debit card vs credit card

a debit card vs credit card When you use a credit card, you're borrowing money from the bank to buy something, but you have to pay it back. Debit card only allows you to spend money that you actually have in your account. Okay, so when should you use them? Debit card almost never. You still got the tag on my shit. I I never used it. I only use my debit card if I need to go and get cash from an ATM because you can't do that with your credit card. And I have this attached to like my Zelle, Vemo and PayPal. That's really it. Besides that, I never really used it because there's no benefit or rewards for even using this. And whenever you use your debit card, you risk having your bank information compromised. Because if somebody hacks or gets into your debit card or bank information, that's your actual money gone into the bank investigates. I don't know if you've ever been through that, but that's a very tough process. It can take time and it varies. Meanwhile, your money is still missing. You can't use it. Now me, I live off of my credit card. And people think I'm crazy when I say that. One, it's not linked directly to your bank account, so there's protection against fraud, right? And if you pay it off in full every month, you never pay interest. Every time you use your credit card, you should be getting some type of rewards or points. I think I have right now around 300,000 points. I remember I had 500,000 points. I can redeem those points for free flights, free hotels, concerts. I get so much benefits and rewards for just using the card. Most importantly, you build your credit. Anytime you're ready to go buy a house or property or car, your credit score is nice. And a simple rule of thumb with a credit card, simply don't spend money that you don't have. Pay your credit card off in full every single month because if you only pay the minimum payment, which they suggest, that's when the interest starts to accrue. That's how they make their money. Whatever my interest rate is on this card, I wouldn't even know it because I pay mine off in full a week before my due date. And that's the difference between a debit card and a credit card. I hope that this video helps.