The Debit Card: Your Everyday Superhero

MSD Blogger Malaysia


Debit cards are excellent for everyday spending and a great way to keep your budget in check because you literally only get to spend what you currently have, or “real money”, which is definitely a good thing. Paying off a debt is a struggle and a slippery slope back to financial stability. Although using a debit card is not a 100% guarantee that you will not overspend, it will help you steer clear of that sticky situation.

The key feature of a debit card is that it’s instantaneous. Whatever purchase made on the spot will usually be processed and accepted very quickly. Shopping is a breeze when you don’t have to fumble with your wallet.

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If you simply prefer cash to credit, the debit card is perfect as you can use it to pay for virtually everything (except big purchases) and still make cash withdrawals from almost anywhere. You can also use the ATM to transfer money if you do not want the hassle of keying in online TAC codes sent to your mobile phone. While the global economy is going cashless, do not neglect to carry modest amounts of cash for sudden emergencies.

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If you are easily anxious over penalties and fees, this is the best option for you as you get to skip out pesky penalties and fees. No need to worry about paying later and interest on your account. You just go about your life with a peace of mind. Moreover, applying for a debit card is straightforward and it can be linked to your savings account. It is comparatively easier to get as a credit card is more stringent with its applicants.

You do also get rewarded for paying with your debit card. Curious to know why this privilege extends to the debit card as well? Merchants want to avoid processing fees charged by credit card companies, so they encourage you to pay via cash or debit card by enticing you with a variety of perks. All in all, it has come a long way from being the credit card’s nerdy cousin.