Guiding consumers since 2009

Debit cards proving to be more popular than credit cards

By Staff Writer

January 14 2008

From creditcards-gb.co.uk

by Peter Kenny

For credit card companies this is definitely not good news. They have been under a lot of pressure over the last year as their late fees have been slashed and they are constantly under the spotlight for things such as other fees and payment protection. All of the bad publicity has definitely made the credit card less popular and has caused a new rise in popularity for the debit card.

If yot still prefer the idea of a credit card, apply for one here

The main advantage to debit cards is that the overdraft facility is a lot better than the interest charged on credit cards. Most people can comfortably live in their overdraft each month and they often do not have to pay anything extra for that overdraft. However with a credit card you are charged interest on all of the balance. So you end up owing more than you should and than you would with a debit card.

Whether or not this trend will continue remains to be seen. Overall it is easy to see why debit cards are preferred these days over credit cards. Credit card companies will certainly be worried with the figures and it is likely that new deals will be introduced to bring back customers.

Recent Articles

Featured Can you take out vehicle finance on an old vehicle?

As it turns out, creditors have several concerns regarding cars older than 10 years. Justmoney has a look at why creditors are sceptical of older vehicles and what you can do to get around this.

Should you have a living will in place?

When you hear the word will, the only thing that comes to mind is the document that states who is going to inherit you property when you’re dead. But have you thought about who’s going to decide what happens to you when you become incapacitated? A living will can help you do just this.

Know the difference between a loan and a credit facility

Choosing the correct product according to your needs is critical in making smart financial decisions. Credit options can be separated into two main categories – loans and credit facilities. But for some people, the lines can be quite blurred between the two.

Is property a good investment?

It’s good to consider whether property is a good investment. Justmoney spoke to numerous specialists to find out whether this is the case in South Africa.

Deals

DaVinci’s on Kloof Students Discount

Price: Available on request
When: Daily
Where: Cape Town

Ghandi's Backpackers and Guest Lodge 10% Discount

Price: Available on request
When: Daily
Where: Johannesburg

Fairway Hotel Happy Hour Special

Price: Available on request
When: Until 13 December 2019
Where: Johannesburg