#133: Credit versus Debit Cards

Josh and Amelie and Emily discuss credit cards and debit cards! What are the best use cases for each? Is one always bad and the other always good? Any common misconceptions?

Top things to think about

1. Debit cards can exacerbate cashflow challenges.
2. You have MUCH more generous fraud protection with credit cards than with debit cards.
3. Josh’s advice for new credit card users (less than 2 years of on-time in-full payments) is to find a card with a credit limit that’s less than one week’s take-home pay and one that has no rewards points.
4. Both credit and debit card rewards points are there to get you to spend more money.
5. You’re more likely to get card information stolen in person than online.

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