Essay on Questions On Debit Card And Credit Card

1054 Words Apr 27th, 2016 null Page
What is your preference between a debit card and a credit card? Some people may like the debit card better, and some people may prefer the credit card; I prefer the debit card. It is not because one is better than another; instead, it is because these two types of cards have their own specific characteristics, and the debit card’s characteristics fit me better. Thus, comparing these two cards’ features, people will choose one over another and find their best fit according to the two cards’ differences, including application, transaction, safety, and financial interest. First of all, the requirements for the two cards’ application are different. It is easier to have a debit card, because transacting a debit card requires fewer conditions (“Credit or debit? Each card type has pros and cons” 52). Once you are over eighteen, you can open a bank account in your name; or, if you are not eighteen yet but have a guardian, you can also open your own account under his or her name. Last year, I was not eighteen yet, so I opened my first bank account under my host-family guardian’s credit. Because transacting a debit card does not require other conditions, it is a problem for neither native citizens nor foreigners to open a bank account. However, transacting a credit card requires many certifications. Because people are not using the money they already have, but rather using a certain amount of money which they will owe their bank, the bank requires applicants to have a…

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