the most most most important advantage of a debit card is that the card has a visa, mastercard etc.. number on it. Meaning u can use this number to do online purchases, as if u have a credit card like that.
If u only have an atm card, u can forget abt online purchases..
sounds interesting? OF COURSE!!! but that will also make u spend more eg. buy on yahoo auctions, ebay, cinema tickets, sistic concerts etc.
try buying pizza from pizza hut with a debit card? :devil:
For ATM cards, you can't pay in the shop....
Hong Sien
Because for example the Mac delivery, u have to give the debit card number over the phone, so its a bit dangerous. For my case, i m quite "safe" because my debit card account regulary contains no more than $50 hhahaahha
means u have to keep top-up the debit card account every it uses up the $50?
ooo auto one la, i thought have to do it personally then it would be rather ma fanya...because u must remember one fundamental thing. The debit card is linked to ur savings account. So if ur savings account got $50 and u used it up, u got to "top up" rite?
just think of it as a normal savings account with online transaction features
ooo auto one la, i thought have to do it personally then it would be rather ma fan
oooo, ic. msg notednono...its not automatic.. alamak
wat i mean is, after i used up the money in that debit card account, i go and deposit cash back into the account. Yes its ma fan..
[or u can do a internet funds transfer and transfer fund from other accounts into ur debit card account]
And in case i blur u just now, debit account dont need to put just $50, u can put 1 million or 1 billion also can..
ATM card:
- Use for withdrawal of cash from bank account at ATMs using a pin no.
- NETS, a system for making purchases without needing to withdraw cash, but not widely supported by online purchases (eNETS)
- Amount u can spend is limited by amount u have in ur account, and the daily withdrawal limit
- Amount use is directly deducted from bank account
Credit card:
- Usually known as VISA, MASTER, AMEX, etc.
- Does not support NETS
- Needs only signature for purchases over store front, needs card number and verification code for online purchases
- Withdrawal of cash is allowed through means of a pin no., and only at designated machines that support CIRRUS
- Amount u can spend is limited by bank, usually 2 times ur monthly income, no daily limit as long monthly limit is not hit
- Amount used, have to be pay up monthly, by means of SAMS, AXS, linked to bank account, etc.
Debit card:
- Is just like ATM card, with VISA or MASTER cards features, and supports NETS (Just like a Credit card that works like an ATM card)
- Needs only signature for purchases over store front, needs card number and verification code for online purchases, needs pin no. for cash withdrawl at ATMs
- (When in overseas)Withdrawal of cash is allowed through means of a pin no., and only at designated machines that support CIRRUS
- (When in Singapore)Withdrawal of cash like an ATM card
- Spending limited by amount in bank account and daily limit
- Amount use is directly deducted from bank account
Above information is base on what i know, if any mistakes spotted pls advise..
Debit card is the way to go man..hassle free..spend what u have only, dun get urself in debts..:bsmilie:
credit card = u spend as if u really got the money, then later pay like mad..
debit card = u spend the money u really have.. btw, debit card can sign also.. from the last time i remembered..
but seriously, dun apply for too many credit cards.. juz get 1 visa, 1 mastercard.. that will suffice..
why dun apply too much? dun use also have to pay? sorry ar, i young, wanna noe more so that can plan