Most people have both. A debit card really isn't that big of a deal. It's something that most people add to a regular account to ease with payment. The primary thing you want to look for when you get a debit card is fraud protection. Mastercard debit cards have the same fraud protection as their credit cards, but some cards don't. You might be able to get a home loan without a credit score if you have a strong co-signer, but most financial institutions will require one. The best advice I could give to someone with little to no credit is to get a secured credit card and pay it off every month. This is a safe way of building credit without much risk of running up debt. After a few years of steady payments, you'll have a good credit score. That will pay off in the future.
Sure. Ever been to a Wal-Mart, or any other type of big-box retailer? They're everywhere. https://www.walmart.com/ip/Visa-200-Gift-Card/20625678
Meanwhile I posted that for the opposite reason lol. But I got to say I never heard of someone maintaining a good or maybe even great credit score (actually FICO is the real deal) by just paying their monthly utility bills on time. There's a reason it is called a credit score.
Neither have I heard of anyone maintaining good credit score by just (as in only) paying their monthly utility bills. You need to do other things too as I mention to help a relative establish a good credit history. Just do it every 3 - 4 years whenever a need arises. You have no debit card because you got rid of it, lost it, bank doesn't offer it, turned it down or what ? Yet, they do come in handy when withdrawing cash or making deposits to the ATM machine if you don't have a Debit visa/mastercard. Actually, how do you withdraw cash or make deposits to your bank account without a debit card considering you can not do that with a credit card ? I've asked because I've been places where I need cash sometimes and I don't have time to go inside the bank to stand in line for a teller. wrbtrader
As an example of when cash is more convienient than debit visa/mastercards, credit cards or debit cards... Neighbour's kid wants to cut your grass. Obviously you aren't going to give the kid your credit card, debit card nor debit visa/mastercard. Giving the kids cash when they plan to hang out with their friends (e.g. go to a movie, go to the mall). Thus, useful sometimes to carry cash too. I usually try to keep about $100 dollars in my wallet. Tough to do because I have teenagers. Another example, one of my favourite grocery stores requires you to use their carts but you need to insert a one dollar coin into the slot of the cart to be able to use it. You get your one dollar back when you leave the store and put the cart back in its proper place. It's why I wonder how do people get by when they say they have no debit cards nor debit visa/mastercard but just credit cards. P.S. Some stores (not many) will allow cash back after making a purchase with a debit card or debit visa/mastercard. Doing such with a credit card...you're charged a higher interest rate. The latter you'll be increasing your debt. P.S.S. Many countries don't use credit history the same way as the U.S.A...a few do not even have a credit report agency. wrbtrader
I will again in a few years. It will be secured debt...not unsecured debt. Yeah...it will still be debt but only for 1 - 2 years until its paid in full. It should be the last time I'll do that again. Can't say I will never again with confidence...I do have teenagers and they will be adults one day. wrbtrader
Have both but mostly use credit cards. Why use a card that forces me to pay right away when I can use another that I don't have to pay for an entire month unless the merchant only accepts debit card and nothing else? Especially nowadays all the prices already incorporated all of the benefits from the credit card so if you don't use it then you are subsidizing all of the credit card users by paying the higher prices.