Make Money Make Cents

Making Cents of Your Money

Credit and Debit Cards

Balance Transfer Do’s and Don’ts

 
I cannot tell you how many times I talk with clients who transfer their credit card balances to a 0% card, then after a year wonder why they owe more than when they started. Instead of taking advantage of the low interest rate and paying as much as possible to get the card paid off, they pay the minimum of the new card, while racking up the original credit card balance, AGAIN!  That is failing at your financial responsibilities, and a lot of people are guilty of it. If some people do not change their spending habits, they will not retire until they are 90. 
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Will That Be Debit Or Credit?

After 6 years of working at a bank this is one of the most common questions I am asked.  Should I use my debit card as Credit, or as Debit? What is the difference? Is there a fee? Here is an explanation of how debit cards work, how to use them, and why. 
Debit cards are a convenient way to use your money.  Another name for a debit card is a check card, because a debit card is essentially an electronic check.  After the card is swiped, the funds are verified by your bank making sure you have the funds, and then given to the merchant. 
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