Although the advantages of paying with a credit card ^[2] can far outweigh those of many debit cards, for some it’s still better to use a debit card. How do you know whether you should be using a credit card ^[2] or a debit card ^[3]?

^[4]Don’t use a credit card IF:

You can’t or don’t pay your credit card balance in full and on time, every time.

If you find yourself using credit without paying it off before interest charges accrue, you’ll need to stick with cash or a debit card ^[3] to avoid paying interest charges and/or late fees.

You tend to spend more than you earn … or more than you can afford.

Paying with a debit card ^[3] limits you to money you’ve already earned. There’s no opportunity to spend the money you’ll earn next week, or next month, or next year. That’s what credit is, money you plan to earn in the future but that you actually spend now.

You have a credit card with a very low limit but STILL exceed the limit.

The fees for exceeding your credit limit are costly, and exceeding them can also put a large dent in your credit score ^[5] since 30 percent of your credit score ^[6] comes from the amounts you owe.

The best debit card?

The BEST debit card ^[3] out there in my opinion is the Perkstreet MasterCard ^[3]. It’s the new card on the block because Perkstreet ^[3] just inked a deal to switch from Visa to MasterCard for all new customers.

This change will allow PerkStreet ^[3] to offer its customers a number of new benefits while maintaining the same great perks they’ve always enjoyed.  Don’t worry, the cash back rewards remain exactly the same. The average American will still earn $600 cash back from PerkStreet every year with their 2% cash back debit card ^[3] and with their monthly FIVE PERCENT CASH BACK PowerPerks. PerkStreet ^[3] aims to make the move to MasterCard as easy as possible for all of its customers.

What extra benefits come with a PerkStreet MasterCard?

MasterCard noticed the incredible growth of the PerkStreet ^[3] debit card and approached THEM wanting to be involved in that growth. By using MasterCard, PerkStreet ^[3] customers now enjoy several new benefits:

Purchase Assurance

If you buy something with your new PerkStreet MasterCard Debit Card ^[3] (after it arrives) and you can have it replaced if it’s stolen, broken, or lost in the next 90 days. That’s three months of, “Sure, play with my new iPad. I don’t care,” thanks to MasterCard. Purchase Assurance means coverage up to $1,000 per claim.

Satisfaction Guarantee

If you buy something with your PerkStreet MasterCard Debit Card ^[3] and simply change your mind about wanting it in less than 90 days, MasterCard will refund you up to $250 if the merchant you bought it from won’t accept the return.

Extended Warranty

If you buy something that comes with a manufacturer’s warranty with your PerkStreet MasterCard Debit Card ^[3], MasterCard will double that warranty up to a year. That could be a year’s worth of extra protection when you make major purchases with the new card! Count me in!

These are just a few of the new benefits you’ll get after the switch is completed.

So if a credit card ^[2] isn’t for you for whatever the reason, give the new PerkStreet MasterCard Debit Card ^[3] a try and see what it’s like to enjoy the best of both worlds.

About the author

Ron has written 1080 articles on The Wisdom Journal.

The founder and editor of The Wisdom Journal ^[7] in 2007, Ron has worked in banking, distribution, retail, and upper management for companies ranging in size from small startups to multi-billion dollar corporations. He graduated Suma Cum Laude from a top MBA program and currently is a partner in a national building materials company.

If you enjoyed what you just read and would like to get FREE email updates with the freshest articles from The Wisdom Journal ^[7] delivered right to your inbox, subscribe today ^[8]! It's ridiculously easy and you can unsubscribe at any time. Since your email address is never sold or abused, you can subscribe with confidence, PLUS you'll get free reports/guides/eBooks, subscriber only benefits, and other perks.

• Blog ^[7]
• Twitter ^[9]
• Facebook ^[10]

_{»crosslinked« ^[11]}