Tarjeta de crédito Vs Tarjeta de débito | ¿Qué es mejor?

Summary

This video explains the key differences between credit and debit cards. While both allow for purchases, a debit card is directly linked to your bank account, requiring available funds for transactions, while a credit card lets you borrow money up to a certain limit with the option to repay later, often with interest. The credit card offers more protection against fraud and purchases but can incur high fees, especially for cash withdrawals. The video highlights which card might suit different financial needs, advising debit cards for those who prefer not to accumulate debt and credit cards for those who can manage repayments responsibly.

Takeaways

• 😀 Debit cards are linked directly to your bank account and deduct funds immediately when used.
• 😀 Credit cards allow you to borrow money up to a set limit and repay later, often with interest.
• 😀 Debit cards require sufficient funds in your account to complete transactions, while credit cards do not.
• 😀 Debit cards are best for managing your own funds and avoiding debt.
• 😀 Credit cards provide the option of paying for purchases in installments without immediate payment.
• 😀 Debit cards typically have lower fees, but ATM withdrawals outside your bank's network can incur costs.
• 😀 Credit cards charge interest on unpaid balances, making them more costly if not paid off in time.
• 😀 Debit cards are less secure against fraud compared to credit cards, which offer better protection and fraud recovery options.
• 😀 You can set daily spending limits on a debit card to control your expenses and prevent overspending.
• 😀 Credit cards are often necessary for recurring services like subscriptions or purchases that require assurance of payment.
• 😀 If managed well, credit cards can be a useful financial tool, offering benefits like interest-free periods for purchases.

Q & A

What is the main difference between a credit card and a debit card?

The main difference is that a debit card is linked directly to your bank account and uses your available funds, while a credit card allows you to borrow money from the bank up to a set credit limit and pay it back later.

Can both credit and debit cards be used to make purchases online or in stores?

Yes, both cards can be used for purchases, either in physical stores or online, as they both serve as alternatives to cash payments.

What happens when you use a debit card for a transaction?

When you use a debit card, the funds are directly deducted from your checking or savings account, and you need to have sufficient balance to make the transaction.

What is the advantage of using a credit card over a debit card?

A credit card allows you to make purchases without needing to have the money available immediately. You can also repay the amount in installments and potentially benefit from interest-free periods if managed correctly.

What does a debit card require to make a transaction?

A debit card requires sufficient funds in the linked bank account to complete a transaction, otherwise, the payment will not go through unless you have an overdraft or a set debit limit.

What fees or costs are associated with using a credit card to withdraw money from an ATM?

Using a credit card to withdraw money from an ATM can be costly due to high interest rates and fees that are typically applied to cash withdrawals made with a credit card.

How does credit card security compare to debit card security?

Credit cards generally offer better security against fraud, as they often come with additional protections such as fraud prevention insurance. Debit cards may have less protection, especially in the case of faulty purchases.

What type of purchases are credit cards more suited for compared to debit cards?

Credit cards are more suitable for recurring payments, like subscriptions or memberships, because they allow deferred payments and ensure payments are made even if there are insufficient funds in the account.

What is the recommended use of a debit card for ATM withdrawals?

It is recommended to use a debit card for ATM withdrawals because it avoids the high fees and interest rates associated with credit card cash advances.

What should you do if you struggle to control your spending with a credit card?

If you have trouble managing your spending with a credit card, it's advisable to stop using it and switch to a debit card to prevent accruing debt and interest charges.