Credit cards are extremely convenient, but extremely costly. For those that would like the convenience of a credit card without the high costs involved there are many alternatives. Below, you will find a few.
Debit Cards
Debit cards have taken America by storm. They are extremely convenient just like credit cards without the high interest fees. Debit cards are credit cards that use your bank account instead of an unsecured loan provided by a credit card company. Debit cards are extremely easy to use, are usually accepted everywhere a normal credit card is accepted and does not charge any interest for purchases.
The beauty of debit cards is that they use your checking account making it easy to refill your balance. Many credit cards come with online banking making it easy to keep tabs on your balance and easy to transfer money from another account to refill your checking account. Debit cards usually are very economical and cost nothing at the point of purchase to use. While some banks do charge a yearly or monthly fee, these fees are typically low and much more cost effective compared to high credit card interest fees.
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