Hey, Lay off of my Debit Card!!

[pixie cut]

While unquestionably credit cards have greater safeguards than debit cards, simply paying off balances in full every month isn't always enough to keep your credit score high. Too much activity or too much credit utilized -- even when payment record is perfect -- can still lower your credit score.

[Anita18]

While unquestionably credit cards have greater safeguards than debit cards, simply paying off balances in full every month isn't always enough to keep your credit score high. Too much activity or too much credit utilized -- even when payment record is perfect -- can still lower your credit score.

Eh, I think sometimes people obsess about their credit score unnecessarily. I have fairly high credit limits (not of my doing, it was automatically given to me) and I spend a fairly low percentage of it every month, not to mention pay my bills in full on time. That's probably the most mental effort I've ever given to the entire proceedings, and I've had several instances where people checking my credit score (landlords, car loan) are surprised by how high my score is, especially given my age. (I think I got my first card at 18 too, so the long credit history is also a plus.)

I know it's not perfect, it's probably mid-high 700's. But you don't need a 800+ score to get the lowest interest rates, I think over 700 will suffice.

[numbers123]

Anita is correct, it is the percentage of credit charges you have vs. the amount available to you that is the determining factor.

[Japanfan]

I have never used a debit card. My financial advisor says they are unsafe and have fewer protections than a credit card.

In my experience the security on both is excellent. I've had my debit card flagged for fraud as well as my credit card - a many danger of debit cards being that retail clerks try to steal the card numbers and codes.

[Hannahclear]

We like to try and pay with cash, but use debit on occasion. I really like the credit card for online purchases. That's where I feel like most fraud is likely to occur.

[pixie cut]

I really like the credit card for online purchases. That's where I feel like most fraud is likely to occur.

That's true. They can show that little lock all they want, but information transmitted on the internet is vulnerable. You regularly hear stories about information being compromised.

I can only say that a few years ago I bought two pairs of shoes, one with a debit card and one with a credit card. When they arrived, I didn't like them and returned both. The catalog co went out of business, so they weren't about to process my refunds. I got the credit card refund in a snap, but had to fight for months to get the debit refund. I did get it in the end.

I don't like carrying cash, so a debit card is a good compromise for me. Just be careful.