Some of the advantages of debit cards include convenience, being able to save time, the ability to get cash back, and staying within a budget. Examples of disadvantages include having a harder time fighting charges, extra fees, not being able to improve credit, and minor fraud protection.Know More
An individual who has a debit card doesn't have to worry about carrying around cash or a checkbook and pen to make purchases. There's also less hassle involved with using debit cards since they aren't viewed with as much scrutiny as credit cards or checks. A consumer who is on a budget can also benefit from using a debit card since he's only able to use the amount on the card. There's no need to worry about interest charges or late fees with debit cards.
One of the biggest drawbacks of debit cards is that the money is taken out of the individual's account as soon as a purchase is made, which makes it challenging to dispute faulty charges. An individual trying to improve his credit is unable to do so with a debit card since debit card use isn't reported to credit bureaus. Debit cards also aren't known to have the same level of protection as credit cards.Learn more about Credit & Lending
Debentures pay higher rates than secured debts, but there is a risk that an issuer will be unable to pay the investor, according to TheFreeDictionary. Debentures are typically issued by companies with good standing, but these bonds are unsecured and have no collateral.Full Answer >
While electronic cash does provide a more secure means of storing and tracking money, it is not entirely immune to theft. There are a number of different advantages to digital money, but a similar number of disadvantages exist. In addition to security, it is also easier to store and move from one institution to another.Full Answer >
Smart cards offer convenient and quick methods for conducting financial transactions but leave users at risk of security breaches such as stolen passwords and identity theft. Smart cards are lightweight and highly transportable. With the simple swipe of these cards, consumers can make purchases quickly and easily; however, they can make spending all too easy and pose security risks.Full Answer >
If your debit card has an issue number, it is probably on the front of the debit card to the right of the card number. If a debit card has an issue number, it will be clearly marked as such.Full Answer >