There is a constant argument in play about whether using debit or credit for your spending is the best way forward. Some people champion credit, while others describe it as a temptress. According to financial advice site Kiplinger, ultimately your spending personality will determine whether credit or debit is better for you.
Credit
Credit has a great deal of benefits that come with it. There are rewards for spending, air miles you can collect, and there is also greater fraud protection. The danger with credit is that it is very easy to overspend and find yourself in debt. If you are controlled and able to meet all of your bill payments on time then credit can be of benefit to you.
Debit
Debit has the benefit of ensuring that you never overspend and are never forced to pay for the privilege of borrowing. By using savings to make your payments with a debit card, you are only ever spending what you have and you will also be earning interest on the cash while it is in your bank. For less controlled spenders using only debit can be a good way to keep budgets on track.
