Tag Archives: card fraud

Debit vs Credit Cards

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“I’m scared of all the reports I hear of shoppers being robbed and I want to reduce the risk of buying things with cash. I’m trying to decide between getting a debit card and credit card, but I’m not sure which one would suit my needs better . What advice can you give me?”

Using cash to make purchases can bring major security risks, especially at this time of year. Using cheques instead can be one option, but many merchants won’t accept them. Increasingly, many consumers seeking the convenience and safety missing from ‘paper’ money, are switching to ‘plastic’ money in the form of debit and credit cards.

Whose money is it?

Although they both provide consumers with a convenient payment method, debit and credit cards have big differences. The most important distinction between the two is whose money is being used to carry out the transaction. Continue reading Debit vs Credit Cards →

Use Debit Cards With Care

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“I recently received a big surprise when I looked through my bank statements. I didn’t realize that I was paying so much for transaction fees when I used my debit card. Between getting cash from the ABM, paying for goods and using online banking I paid over J$400 in charges last month! Do you have any tips how I can use my debit card smarter?”

Debit cards are rapidly gaining popularity as a preferred medium to pay for goods and services. They are more widely accepted than cheques, and they remove the hassle of carrying large amounts of cash. However, when plastic replaces paper, this convenience can come at a big cost. Continue reading Use Debit Cards With Care →