Aaron WhybrowGeneral Manager, Strategic Mortgage Broker

Can you replace your credit card with a debit card? part 1 spending

Name: Can you replace your credit card with a debit card? part 1 spending
Uploaded: 2019-04-23T02:23:35Z
Duration: 1 min 3 s
Channel: Aaron Whybrow
Description: Aaron Whybrow walks through how debit cards work at checkout compared to credit cards. Both use Visa or MasterCard networks, but debit pulls from your…

23 Apr 2019 · 1 min

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Aaron Whybrow walks through how debit cards work at checkout compared to credit cards. Both use Visa or MasterCard networks, but debit pulls from your own money and takes longer to post. This is part one of a four-part series on replacing credit cards entirely.

Debit cards versus Credit cards Hey, it's Aaron from Diagnostics and Finance. I've had a couple questions recently about budgeting on use of credit cards versus debit cards. So I want to split this up into four parts. One is about how you can spend a similar way. Number two is how you can get your direct debits changed over in a timely fashion. And number three is how you can pay down the rest of the debt that may be left on your credit card. And number four is about closing the card. So part one, can you spend the same way? Now you'll probably see if you get your debit card out and you've credit card out, they have numbers and symbols on it that are quite the same. One will have a Visa card, you may still have a Visa card as a debit card. You might have a MasterCard credit card, and you might have a MasterCard debit card. Those numbers you can use the same way as you use your credit card. Your debit card, if you use it as a credit transaction, it will come up as a pending in your statement and it's using your own money. So that's tip number one, you can spend the same way, but you're using your own money. All right, bye for now.