Appstar Financial – Understanding the Benefits of Using Debit Cards

Debit cards are the best medium between cash and credit cards – you get the ease of carrying a card without the risk of overspending. If you have never used a debit card before, or are thinking about trying them out, here are the leading reasons you should give it a try.

Benefits of using debit cards

• No Application Necessary – If you have poor credit it can be hard to be approved for a credit card and the interest rate will likely be exorbitant. Debit cards necessitate no application or minimum credit score, and most just need you to have a checking account.

No Debt – With a credit card it is easy to buy anything you want, even if you do not have the funds. With debit cards, the money comes from your bank account directly, so you avoid spending more money than you have. Moreover, you do not have to keep in mind to pay the credit card bill once a month.

• Identity Theft Protection – Anyone can steal cash from your wallet, but it is much more difficult to steal money from a debit card. The thief would have to know your pin, and if you report your card missing in a timely manner the bank will cancel it so no one can use the card.

Fees – even though some checking accounts have fees related, they are considerably less than most credit cards. Avoiding interest charges, annual fees and late fees can save you a bundle.

Eliminate Checks – Writing checks is time-consuming and is quickly becoming an antiquated payment method. Many vendors no longer accept personal checks, and even if they do it takes quite a bit of time for the purchase to be reflected in your bank account. You also have to keep careful records to ensure you are not going over your available balance and accruing overdraft fees. It only takes a minute to finish a purchase with a debit card, and your available balance is imitated in your account almost right away – it is a win-win.

Eliminate Cash – You do not have to carry around cash if you use a debit card regularly. If you do need cash you can always stop by an ATM and take out how much you need or get cash back when you make a buy at most stores.

Debit cards use the money from your account to make a payment. Thus, when you buy something and use your debit card to pay for it, the amount is debited from your account immediately. If you do not have enough money in your account to pay for this purchase, the transaction would not go through. You can use debit cards at the ATM to withdraw cash as well – which again comes out of the money in your account.

A debit card ensures that you do not spend any money extravagantly that you do not have. It helps you stick to a budget and does not allow you to live beyond your means. Maxing out your credit card and then not paying the whole amount, but carrying it forward, will end up making you pay a lot of money as interest.

Thus, at the end of the day, if you can manage your credit dependably and pay all your credit card bills in full every time, then a credit card is ideal for you. But if that is an issue, it is wiser to stick to a debit card.

Founded in 2002, as per AppStar Financial Reviews, the company provides an array of transaction processing services, including debit, credit, checks, EBT, and gift cards for small to medium-sized home, retail, and internet merchants. As a leader in the electronic payments industry, AppStar Financial is distinguished from the competition by its commitment to offering merchant clientele the best payment processing programs, solutions, and service customized to meet their personal needs.

According to Appstar Reviews, the company is getting numerous customer reviews most of which are positive. These reviews indicate that most customers are generally satisfied with their purchases. AppStar Financial holds accredited status as a member in good standing of the Better Business Bureau. The BBB Accreditation program is a coveted honor earned only by influential businesses.