Should I Run My Card as Debit or Credit?

Almost every time you swipe your card, at any given machine, you'll be asked whether you'd like to run it as credit or debit. But what's the difference and when should you choose one over the other?

Fellow Spokester and friend, Aly from Young & Free Indiana has the low-down on what to do and when. 

LIFEHACKER.COM

LIFEHACKER.COM

Here's an extremely quick breakdown:

DEBIT IS BEST:

  • If the other party needs to be paid immediately.

  • When you've automated your finances and are on a budget.
  • If you're watching your finances, or recovering from poor money management habits.
  • If you want the best exchange rate on foreign currency.

CREDIT IS BEST:

  • If you're shopping online.
  • If you're making large purchases or electronics purchases.
  • If you're traveling or are on vacation.
  • At the gas pump, to prevent fraud.

Check out the full, and far more detailed Lifehacker article for more information and to find out how the behind-the-scenes process differs from running a card as credit vs. debit, too!

Hope this helps,

Lauren R.