The Benefits Of Using Credit Instead Of Debit When Shopping

November 28, 2018

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As we continue to shop until we drop you are faced with a decision when at the checkout register, debit or credit.  While it's easier to select debit and enter your pin to make the payment directly from your checking account, there are some benefits of choosing to pay with credit instead. While this too takes payment from your bank account, it technically is borrowed money against a line of credit (secured by the funds in your checking account) and therefore unlocks the benefits offered by Visa, Mastercard or American Express.  One of them is price protection, where if you find the purchased item at a lower price within 30 to 60 days, you can receive the difference back into your bank account. The warranty coverage is generally extended by one, and in some cases, two years so you get added peace of mind without forking out cash for the extended warranty many stores offer of products. While many retailers relax their return policies this time of the year, using the credit feature of your bank card allows you up to 90 days to return items for a full refund, even if the merchant won’t accept a return. You should review the cardholder agreement that is issued from your bank to see exactly what benefits you have by using the credit feature instead of debit.  Chances are you will be pleasantly surprised.


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