There are many reasons why people rely on debit cards and they are, for the most part, understandable. After all, if you want to be able to make payments without having to carry too much cash around, a debit card will be able to make matters less cumbersome for you. With that said, are there reasons why it’s important to minimize the amount of debit card usage over the course of time? There may even be those who will do away with debit in general but there are certain points that Bobby Jain can bring to your attention.

It’s hard for me to say that debit should done away with, especially when so many individuals make use of it. To simply change a financial method without easing into another can be a problem, to put it simply. I would argue, though, that there are reasons to keep debit usage to a minimum and I am sure that Bob Jain, along with other financial authorities would be able to agree. Here are just a few reasons why debit should be kept to a minimum, according to names like Jain.

USA Today posted an article about this and one of the reasons why debit should be minimized is to help maximize credit scores. While debit can easily help in terms of reducing the risk of debt, it’s worth noting that a strong credit score can help you to attain a loan. Lenders may see your credit score and feel confident in your ability to pay it back over time. In order to build a strong credit sore, it is important to make timely payments without missing a single one.

Perhaps the best way to create and maintain a budget is to focus more so on credit. This will allow you to deviate your focus from debit, which is important because of how you need to be able to maintain a budget in the long term. Fortunately, credit statements will allow you to go about this easier, since you can have a better idea of where it is that your money will go. This isn’t as prevalent with debit, so keep this in mind if you want to keep your budget together.

When it comes to the reasons why credit should be used over debit, rewards should be given a great deal of emphasis. It’s important to note that debit cards with cash back options, for example, are not exactly prevalent. This is the exact opposite of credit cards with the same rewards, though, since they are more common by comparison. In fact, many people have been able to enjoy cash back after making purchases from diners and gas stations, so why shouldn’t you reap the same benefits?

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