Credit & Money Management
The Case for Cutting Out Credit Cards Completely
Four practical reasons why debit cards should be your primary -- if not sole -- purchasing tool.
By Robert Long, Managing Editor, Kiplinger.com
November 2009
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Some people have the vigilance and discipline -- and, sure, the savvy and an admirable passion for managing their money -- to own and even prosper from credit cards. Other folks, namely me, don't. But that doesn't mean we're dumb about money. We're smart enough to learn our lessons, to recognize our weaknesses and to understand their consequences for our financial goals. We fear debt, exult in ownership and find comfort in the controlled boundaries of our checking and savings accounts.
My wife and I own no credit cards -- no Visa, Mastercard or American Express cards, and no lines of credit with any retailers. Debit cards (plus cash and, on occasion, checks) are how we pay our way through life. We don't spend what we don't have.
Related Links
- The Pluses and Minuses of Credit and Debit Cards
- CALCULATOR: How Long Will It Take to Pay Off Your Balance?
- Knight Kiplinger: 13 Lessons From the Crisis
- QUIZ: How Safe Is Your Money?
- Rachel Sheedy: How I Kicked the Credit-Card Debt Habit
- QUIZ: The Truth About Credit and Debt
As our own Knight Kiplinger reminded us in a classic October 2006 column, "all that discretionary spending -- the chic apartment, frequent travel and restaurant meals, consumer electronics, fancy clothes and cars -- crowds out the saving that will enable you to be rich someday." Three years and one big recession later, our boss had to spell out 13 lessons from the sudden economic downturn in our December 2009 issue. Among them: Debt can be deadly, easy credit helps no one, and living beyond our means is over.
As you'll see in Joan Goldwasser's companion piece, The Pluses and Minuses of Credit and Debit Cards, there are smart reasons for some people to own and regularly use credit. For instance, I acknowledge that credit may be a necessary evil for folks living paycheck to paycheck, or without a paycheck -- a way, perhaps, to pay for necessities, or a fallback to use in emergencies. On the other end of the spectrum, more-disciplined people such as Joan can use credit to spend most safely, pay off balances before interest accrues and accumulate valuable rewards along the way.
But let's set aside the principles of our argument for a moment and celebrate four practical benefits of using debit cards as your primary -- if not sole -- purchasing tool:
1. No annual fees and no interest. For certain, debit-card fees can be a sneaky drain on your accounts. Watch out for excessive or frequent fees for using other banks' ATMs, or for making too many debit-card purchases in a month. However, unlike credit cards, debit cards don’t come with an annual fee. And you don't borrow money when you use a debit card, so you won't incur any interest on your purchases.
2. One less. One less bill to pay each month. One less stamp to use (or one less online bill-pay account to establish). One less card to carry around in your wallet. Indeed, in Kiplinger's June 2009 cover story, Simplify Your Life, we advised that "consolidating your credit-card balances is another way to reduce hassles." I say consolidate to zero cards, and you'll not just reduce but eliminate those hassles.
3. Less risk of identity theft. With no credit cards, you have fewer accounts to monitor for potential violations -- and more peace of mind.
4. Versatility. Many debit cards double as credit cards and are processed as such if you use the card online or if you sign the card in person instead of using your PIN. And when you use the debit card as a credit card, many banks offer valuable rewards. My wife and I trade in our debit cards' accrued rewards points during the holidays each year for several hundred dollars in gift cards.
The downsides of debit cards are overblown or irrelevant to many of us. Debit cards' failure to boost our credit score? My crowd doesn't care much for borrowing and may never bother with a credit score beyond their first mortgage. Greater liability for theft on debit cards? Sign for your debit purchases rather than use the PIN, and you'll get the same protections you get by using a credit card. Besides, most banks are pretty accommodating in theft cases. Overdraft fees for frivolous use of your debit card? This is no bigger a concern than credit cards’ interest and over-limit fees.
Again, bravo to Joan and her peers who use credit safely and to their advantage. But also cheers for the rest of us, even if we may be turning our backs on credit's potential benefits, for being smart enough to recognize we're just as or more likely to fall victim to its trappings.
Reader Comments (31)
Posted by: no debt at 11/20/2009 09:50:05 AM
Great information , but how do you reserve a hotel room and etc?
Posted by: aleck at 11/20/2009 10:20:01 AM
I would expect to find such wisdom on a personal blog, but finding it on Kiplinger's web site was a complete surprise. Not only this is bad advice, there is misinformation in the article. Debit card carries entirely different set of liability for lost or stolen cards. Just take 30 seconds to google this. Overdraft fees "no big concern"? Credit card over limit fee is nothing compared to overdraft fees, which can hit a couple hundred $$$ in just a few days. And not having a credit card adds major headaches. Have you ever tried to rent a car with a debit card alone? This is article is bad advice on many levels. Unless you are a bank. They make much more money on debit card processing thank credit card. And by the way, overdraft fees were number one source of income for the banks this year.
Posted by: jclimber at 11/20/2009 10:32:52 AM
This is the lamest article I've ever read. Sure - if you have no control then don't use credit cards. I personally think debit cards are a tool by banks to extract money from you (overdraft fees and re-ordering of charges to make them worse). Most credit cards have no fee (all mine don't) and no interest charges if you pay the bill on time (which I do). I only use credit cards which have some kinds of awards program (miles or cash back) so I come out ahead. I pay all my credit cards online so no stamps are used. And if one is compromised I lose no money immediately and am only liable to $50. I see absolutely no advantage at all to using a debit card, only negatives.
Posted by: Nomen at 11/20/2009 10:58:44 AM
How do you rent a car or buy online airline tickets? I keep ONE credit union credit card for those and gas purchases. I use old fashioned checks and cash for everything else. I wouldn't have a debit card (too few protections) and I certainly no longer trust my bank's monthly shifting (WITHOUT NOTICE) policies.
Posted by: Jim - PBNJ at 11/20/2009 11:16:30 AM
While eliminating credit cards is not a bad idea, the fact of the matter is accountability and responsibility must be the premise for extending, obtaining and using a credit card. No different than a debit card. Based purely on a profitability model from the credit card issuer, the premise is sound. Offer short term credit to consumers. Profit comes to the issuer from the retailer (1% to 4%+ of the total purchase), profit comes to the issuer from transaction fees for navigating the network and potentially profit comes to the issuer if the consumer chooses to revolve credit. From a consumer perspective, I enjoy other people's money for 30 days, pay off the debt entirely every month. So far ... win - win. What happens when issuers mass market there wares and those wares end up in the hands of irresponsible individuals? Losses get passed onto the good consumer. What happens when issuers have no 'on the level way' of turning profitability? Issuers create situations whereby they cause consumers to 'fail'. Tactics that I've heard include: the issuer shortening (changing) the due date of a credit card bill - I suspect in order to collect fees for missing a payment. Raising the interest rates on outstanding balances. I am sure there are many other examples. The bottom line is if you, as a consumer can manage using a debit card, there should be no reason you cannot manage using a credit card. At least your money is in the bank for another 30 days.
Posted by: Kim at 11/20/2009 12:12:44 PM
Can you use your debit card for hotels and rental cars? I have heard that you can't but don't know because I have never tried it. Just wondering because we do go on vacation once a year and use our credit card for hotels....
Posted by: Ron Tirleton at 11/20/2009 12:36:13 PM
I suggest people also be aware of the following as quoted from Will Chen. Note the big difference in liability protection when using a "pin" versus "signing"........Despite the popularity of debit cards, consumers are often confused about the security features and consumer protections debit cards offer. Many of the same features and protections provided by credit cards are also offered with debit cards. It’s important to know that Visa debit cards carry the same protections as Visa credit cards. All Visa cardholders (prepaid, debit or credit) are protected by Visa’s Zero Liability policy. This policy means you pay nothing if unauthorized purchases are made on either a Visa Check card or credit card when you choose to sign for your transactions. Some issuing financial institutions offer Zero Liability protections for certain PIN debit transactions as well, but the best way to ensure you are protected is to sign for your purchases. Visa’s Zero Liability policy actually surpasses protections mandated by federal law, which in most cases caps liability at either $50 (for credit) or $500 (for debit).
Posted by: AXP for life at 11/20/2009 01:33:37 PM
This is just more evidence of why our country is languishing in doldrums, what a load of BS! How are you supposed to maintain or increase your credit score with no credit cards or revolving credit accounts? Utility bills and college loan payments do not a strong credit score make. Why can't you exercise the discipline to pay the balances off monthly and avoid interest charges? Why can't you pay your credit cards online like everyone else in the 21st century to avoid any physical mailing expenses? How is having the temptation to enter your pin at multiple venues less risk of Identity Theft? How does one become moronic enough to not only believe but to disseminate this BS into the general populous. Wake up people this S^%T isn't rocket science.
Posted by: Jason at 11/20/2009 01:35:52 PM
Yes you can use your debit card to pay/register for hotels, flights, rental cars. Not all rental agencies will allow the use of a debit card but most will. I travel frequently on international trips and always travel with my debit card. I alert my back of where I am going so they can monitor for abnormal charges. To-date nothing abnormal or fraudulent has occurred.
Posted by: Robert Long at 11/20/2009 01:45:32 PM
Hi, this is Robert Long, author of this article. To 'aleck': No misinformation here -- my commentary doesn't suggest that the liability for debit cards is the same as credit cards. We've made those distinctions clear; see Joan's Goldwasser's piece about the Downside of Debit Cards at http://www.kiplinger.com/magazine/archives/2009/11/debit-card.html. But most readers have acknowledged that banks simply don't fight you on liability for reasonable claims of fraud on your debit card. As for overdraft fees, my point is that fees are indeed lurking within all financial products, and smart consumers need to monitor their money to avoid unnecessary fees. But fees are by no means specific to debit cards. And as for renting a car, I've done it many times with my Visa debit card. Thanks for your interest and I hope this adds to an important exchange of ideas.
Posted by: DebitUser at 11/20/2009 01:55:53 PM
If you use debit correctly, and can balance a checkbook, then you should not be overdrafting your account! I use my debit card for EVERYTHING (including reserving hotels and rental cars AND making online purchases..using the card as a credit card). For those of you who are saying that the banks charge overdraft fees, and these are more problematic than Credit Card fees....you should monitor your ACCOUNTS! If you can't then credit is is PERFECT for you!
Posted by: ht at 11/20/2009 03:48:52 PM
This is too draconian of an approach. Moderation and judgment are what is needed. Not giving up an important financial product.
Posted by: cantrell at 11/20/2009 03:54:00 PM
The financial institutions that push the credit cards are the same as those pushing debit cards and other means of consumer debt. Unfortunitly. the current depression has not taught the stupid american consumer that all these companies want is their money. What ever did we do before these carpet baggers established their multi-billion dollar industry. Get rid of them and save the consumer the multio-billion dollar debt. THE ONLY REAL CREDIT/DEBIT CARD IS THE DOLLAR BILL. YOU GOT - YOU CAN SPEND -- YOU DON'T GOT - WAIT TILLYOU EARN IT.
Posted by: greg at 11/20/2009 05:39:19 PM
If you must rely on a financial product to reign in your spending, then I will agree that debit may be a better fit for you than credit. But the reasons you provide all rely on this faulty (in my opinion) line of reasoning. I'll repeat what another commenter said: The bottom line is if you, as a consumer can manage using a debit card, there should be no reason you cannot manage using a credit card. At least your money is in the bank for another 30 days. Below, I refute each point made in favor of debit cards. 1) No annual fees and no interest. Many credit cards do not charge annual fees - you should only pay an annual fee if you carry a huge balance and paying a fee gets you a lower APR or if you spend so much, the rewards make it worthwhile. Also, if you do not revolve, using a credit card actually EARNS you interest, because you have a grace period to pay your balance each month - admittedly this can be a small amount, but savvy customers, even without big balances, can earn 4.5% or more on their checking account (Google Bank of the Sierra Rewards Checking for more details...and yes, I know debit purchases are required to get that rate, but you can buy lunch/coffee for half the month on debit and put all of your other purchases on credit). 2) One less. Who cares? If you use electronic bill pay, you incur no costs and it takes 2 extra minutes each month to pay. If you need to think of it this way - every additional electronic bill you pay sticks it to your bank another 0.5-10 cents. 3) Less risk of identity theft. This statement is half-baked and misleading. Credit cards carry no more risk of identity theft than debit cards. In fact, anyone watching me enter my PIN can later steal my card and take money out of my bank account. A significant portion of identity theft involves the criminal opening a new account - while this is likely to be a new credit card account, it has nothing to do with whether you own a credit card already - you still won't know about it. To the extent that the identity theft involves a takeover of your existing account, I will acknowledge that there is generally more money at risk if customers have access to multiple lines of credit than to your bank account. However, banks are at least a tiny percentage more likely to refund your credit losses (the merchants generally eat them) than they are to take money out of their pockets and put it back into your bank account. And even if they refund your money in both circumstances, the time spent dealing with the claim is way more inconvenient because you have no access to your money and your bills and cash flow suffers considerably. 4) Versatility - while it is true that debit cards can earn rewards, the rewards they earn are generally less valuable than those earned using credit. As an example, I think my bank pays 1 point for 1 dollar credit card spending vs 1 point for 4 dollars debit card spending. Another comment you made: My crowd doesn't care much for borrowing and may never bother with a credit score beyond their first mortgage. Huh? You don't plan on refinancing your mortgage, buying another home, renting an apartment, buying a car, getting a student loan, etc.? All these activities improve your credit worthiness (assuming you are a responsible borrower). The other downside to debit cards that was not mentioned is that many banks place a spending limit on them. I think my bank's limit is $1,000/business day. While you can probably get the limit raised (it's not in the bank's interest to do so as it raises their liability), it's still a pain in the neck. If I'm trying to maximize rewards, I don't want my $500 worth of utility bill payments I charged online to my debit card this Friday to mean that I can't buy $600 worth of Christmas presents this weekend (Friday-Sunday = 1 business day). My bottom line - debit cards are useful to those who need a crutch to stop living beyond their means. I will agree it's a useful tool to change spending behavior for those with no will power or financial savviness. However, if you were able to control yourself enough to change your spending behavior while still using your credit card, you'd come out way ahead.
Posted by: macdongr at 11/20/2009 09:35:38 PM
I agree with aleck. This is a terrible article. For God's sake ignore it.
Posted by: dth at 11/21/2009 10:37:31 AM
How many millionaires do you know who rely on frequent flier miles, credit card 'rewards', etc? give me a break people. Debt free since Sept and I will NEVER go back to borrowing money EVER again. Credit cards are not necessary, as for the liability - I did have someone steal my debit card number and my bank called me at 10 pm one night to check to see if I had made a number of purchases - they wiped the slate clean - no problem. I've been using debit cards for 20 years and have NEVER had a problem. I rent cars, vacation, do everything. As for the fees, don't spend what you don't have. Banks and credit cards should have every right to extract as much profit as they can from YOU. If you don't like it then don't do business with them!...
Posted by: Preacher at 11/21/2009 01:15:51 PM
I have been using this practice for over two years, I just got sick and tired of being sick and tired. Using cash, credit/debit cards is a great tool. There are no fees, unless you hook up with the wrong financial institution. I don't overspend I manage my budget on paper. Spend all my money on paper before getting paid, knowing what I will have left at the end of the month, all necessities get paid first then creditors, insurance, etc., etc. No more too much month at the end of my money. I also don't worry about over draft protection, because I have an emergency fund established. New furniture does not constitute and emergency, but vehicle repair and maintenance does. I no longer get calls early in the morning, or three to four times a day asking for payments from creditors. I got rid of all my credit cards, paid them off using a debt snowball, closed my accounts, and you know what, I live very comfortably, able to help others in the same fashion, kind of a pay it forward deal. As for my credit rating, it went up, but even knowing this, it will not cause me to rush out make purchases just to keep up with the Joneses. This little practiced wisdom that was published by Kiplinger's web site is exactly what people need to know. The only ones that are ignorant about such practices are those not willing to accept something that is practical, and factual. Were you affected by this past recession or as some called it depression? I was not, in fact I made money, I stuck by my life style. I did not rush and withdraw what I had invested, I just froze my investments by not making direct deposits during six month period. You will hear alot of pros and cons about finances, but as you all know not everyone is or was created financially equal. With a strong, intense desire you too can get out of your financial burdens. Then of course you hear this alot of times, God will help, God willing. To kind of paraphrase the old adage you can compare it to this: There was a tremendous flood in a tiny town in Texas, an old man was sitting on the roof as the waters were rising. An Army truck came by, a soldier told the old man that he would save him to just get on. The old man replied God will save me. The waters kept rising, soon a boat came by and was told to jump on board, the old man refused, saying God will help me, the waters kept rising. Finally a helicopter came by as the waters had risen to the roof level and the stranded old man was told to climb up the ladder, again he refused saying God will save me. As the old man arrived at the Gates of Heaven, he seemed confused, and asked St Peter why God had not answered his prayers and saved him? St. Peter told old man, listen we sent you a truck,a boat...
Posted by: gk at 11/21/2009 02:37:42 PM
Dumbest thing I've read in a while....God help Kiplinger!
Posted by: Gee Tee at 11/21/2009 09:56:50 PM
Credit cards are for the more mature and disciplined. I like the "gas purchase" points and convenience of once a month payment instead of the "hop" to the bank when you neeed to deposit funds. Discipline, people, discipline.
Posted by: John at 11/22/2009 06:55:47 AM
How did Robert Long become a managing editor...when he is unable to manage his credit cards? I wonder how he is doing with his mortgage .
Posted by: the guy at 11/22/2009 10:12:28 AM
Ok, all good. Again how do you pay for rental cars, online purchases etc. You have no recourse with a debit card if you have a problem with an online purchases. I pay mine off monthly and accrue the awards towards my purchases. I use a gas card that gives me rewards and a 15% discount on gasoline. i have my principle credit card (I have two, one for gas and the other for general purchases) with my bank so that I can see the status of all of my accounts everyday and even multiple times a day online. I NEVER encounter overdrafts as I know exactly what I have daily. I use my debit card for groceries and some purchases locally. I pay cash at restaurants etc. It amazes me when I see someone buy a pack of gum with a credit card. If I wasn't getting such an amazing discount on gasoline I'd get rid of that card. Responsible credit card use will save you money.
Posted by: Peach at 11/22/2009 04:18:54 PM
This article was well-written and right on target. I last used my credit cards in May and my life has become much more solid and financially serene. Clarity has returned in a big way, which is a real plus in this economy. My interest rates were low, but once I started tallying up how much I was actually paying, it was $40.00 a month! I realized that for me, using credit and paying on my bill every month was a habit that no longer benefitted me. I want to have more control over my money and I have accomplished that in just a few months. I use cash and debit, and I use them being fully aware of how much I'm spending. I's saving more and spending less. I'm not surprised at the anger and outrage from some of the previous posters who claim that it's just silly NOT to use credit cards and that they use them and pay off their balances every month. If I were you, I'd be angry too. If enough of us who use our cards and pay on the balances monthly get fed up enough and stop using them, YOU will be charged more for your own use of them. Credit card companies need profits, and if you're paying your balance off every month for rewards and points, the party will soon be over. The great thing about using debit is in being fully conscious of income and outgo. It makes us just as practical and businesslike as the credit card companies we are so dependent on. This was a great article, and I hope to read more about others using cash and debit.
Posted by: hs at 11/22/2009 07:10:09 PM
The problem with this article is best illustrated by the blogs posted by "aleck" and the response blog by the author, Robert Long. From what I can tell, the author is making valid points, but they are one-sided and not that clearly stated. You have to read the article very carefully to understand the points the author is trying to make. If you read casually like I did the first time, then you easily come to the conclusions made by the folks who were critical of the article. Because of that, I would consider it unfortunate that Kiplinger chose to publish this article. It really should be re-written to make the author's main points clearer and easier to understand... That is a great disappointment.
Posted by: No CREDIT CARD? at 11/23/2009 04:06:47 PM
How would (you) be able to rent a car or reserve a hotel room? I have tried to present my debit card for such things and I am always denied. Every clerk has always said, "no we don't accept debit cards, only credit." Trust me, I have thought of getting rid of all my credit cards... but I travel so much, there is no way!
Posted by: Victor at 11/24/2009 07:58:22 AM
I have been living without a credit card after paying mine off several years ago. Best thing I ever did. I've never had to pay an overdraft fee because I follow the easy rule to remember: Don't spend what you don't have, if you are worried about having to pay an overdraft fee chances are you can't afford what you are wanting to buy (so don't buy it). As for booking a hotel nothing could be easier, you pay cash for the room. Thats it. You have them swipe your debit card and pay up front right away. I have stayed in cheap hotels (200$-250$) a night to expensive hotels (800$-900$) a night, and never had a problem paying this way. Credit cards and credit score are the most rediculous inventions, people say you need a good credit score to get a loan. If you don't take out any loans then you don't need a credit score. It's easy to get a mortgage on personal collateral and proof of income, so credit score isn't a huge player here. As for fraud protection, I know with my bank I'm covered for anything from 10$ to 100000$. I won't have to pay a cent if my card and PIN are stolen. For my plane tickets (I have to travel for work) I book them through an agent to get a good price and pay the agent with *ahem* debit card. Again no need for credit card. It's easy to think you need a credit card for "convenience", but since getting rid of my card I have never found myself in a situation where I feel stuck that I don't have a credit card. But this is my 0.02$, other people may have more trouble controlling spending and therefore need the "convience" of a credit card.
Posted by: Travel at 11/24/2009 03:58:51 PM
I just rented a car for 2 weeks from Alamo with my debit card. Not all of the agencies will accept it but most will. You just have to read the details.
Posted by: greg at 11/24/2009 08:12:46 PM
You guys are all missing the point. All those in favor of debit cards are saying how they helped them cut spending, pay no interest, that they can still use them when traveling, etc. Everyone offering these reasons is attributing these benefits to the debit card. If you using a debit card instead of a credit card makes you spend less, so be it. But it is 100% psychological! You could cut spending, pay no interest, use it for traveling, etc. by exhibiting the exact same behavior you do while using a debit card - and instead of losing the interest you'd earn on your higher bank balances and instead of earning fewer (or no) rewards, you'd be coming out ahead in those two areas. I go into (too much) more detail in an earlier post. Bottom line - get some will power and financial savviness and take advantage of this great consumer product, rather than letting it take advantage of you!
Posted by: Ronnie at 12/10/2009 01:34:39 PM
I use a credit card to hold a reservation for a hotel or car, but I don't use it to make the purchase. I buy my airline tickets with a debit card. I use my credit card in no other way. It's more than possible to hold a room with a debit card, but the amount held is higher. I've done it multiple times. My savings account is attached to checking for overdraft protection; I put money into it every pay period. And the liability for debit cards depends on if used with a PIN or by signature. You don't have to agree with me, but I worked for Visa. I'm far too familiar with their rules.
Posted by: mike at 12/12/2009 05:41:08 AM
This issue fundamentally is not one of the merits of credit cards vice debit cards, but of discipline and character. Those who have it avoid the temptations of short-termed gain at the expense of long-term prosperity and stability. Blaming financial institutions or outside forces in general is a convenient crutch to evade responsibility for one's own decisions.
Posted by: cfosterkane at 01/09/2010 02:18:22 PM
I've come late to this discussion - maybe I missed it in the long streams-of-consciousness recitals above, but we use credit cards with no fees and cash rewards, and the way we make sure the full balance is paid off every month is have that set up AUTOMATICALLY between the credit card company and the bank - the bill comes at least ten days before the payment due date so there is plenty of time to make sure the bill is correct (although I check online regularly, too). Free use of money for up to 30 days, more generous cash rewards than debit cards - and no debt. If you don't have credit cards with no annual fee that will let you set up automatic full balance payments every month - get another card.
Posted by: Surprised (not really) at 01/31/2010 11:57:30 PM
I'm honestly surprised at the expansive number of senile posters here. I can see most of you have made a mistake (which is technically your fault) and have paid the price at one time or another. Not only is this solid advice, but the author is actually doing you a favor by informing you -edit- (reminding) you of information, you should already know. I work for a major bank, and I too had pretentious views. THEY'RE ALL CROOKS! so I "feel" your outcry. I suggest all of you, look and understand from the banks point of view, do extensive research, maybe apply for a second job at a bank, and learn the in's and out's from within. No one is pointing a finger at you. Just understand the rules, and put scenerios (fees and percentages) into perspective. Credit Cards are great, Debit Cards are also great. Grow up and admit your faults.. most of you, yes MOST of you, sound like little babies, you treat banks like they owe you your interest back, or a fee credit, when you, YOU, mess up. Yes, it happens.. but grow a pair. Why is your credit limit decreased? Because you didn't pay your damn bill on time. I hear your excuse, which may be the god-to-honest truth, so, in 6 months how about we give you another chance. Maybe you'll think twice about your reasons as to why you don't like doing something, aka Autopay, scheduling payments, E-mail Notifications... How smart would it be if banks notified you of this before you crammed 10K worth of charges on your card? Do banks want your lifes baggage to deal with? NO. If you default on your mortgage, or don't pay rent... guess what, your ass is on the street. Debit Cards are simple, if you don't have it... you don't get it. Most have some type of rewards at this point. Start there, but if you don't have the money.. don't bitch.. it's no ones fault but your own. Everyone could really find money (a job) if they wanted.. yea, work at McDonalds, hell sell items on Ebay for people, Learn to play the guitar.... If you are pro credit card, then just remember the banks are a business. If you know the rules, you'll be fine.. if you don't, do research, and listen to someone willingly offfering their opinion. They just may know these in's and out's.