Using a credit card or alternative payment methods might offer better security and financial flexibility in such scenarios while using a debit card as it offers less consumer protection.
1. Overdraft fees and debt accumulation are just reminiscences.
If you spend all your money you would only think of yourself and what bad happened. Sometimes it takes you a while but those small expenses seem to build up and in the end, you face an obligation to make much bigger payments, which is then followed by overdraft fees and a poor credit rating.
2. Even though blockchain offers higher reliability, it does not guarantee any protection against fraudulent transactions.
Through a debit card, the protection level is lower than in the case of a credit card. For example, should someone steal your debit card information and use it fraudulently, then you are likely to end up with a zero balance on your account. Credit card fraud protection means that you aren't liable for the loss or use of your card by other people.
3. The Rewards Aren’t Nearly as Good.
Credit card companies are in steep competition to win your business. One way they succeed is with unparalleled reward offers. Perks can be geared toward what you love most, whether it is traveling, cash back or points. While some debit cards offer things like cashback benefits, they simply aren’t as good as their credit card counterparts.
4. Loan history unavailability.
Best Credit cards provide terms for clients to build and nurture good credit rating by repaying their bills on time. However, debit cards cannot provide an average consumer with such opportunities because they do not create any debt. Consequently, that means that your credit score will not get better or even develop from using only a debit card.
5. You Could End Up With High Fees.
Although many people carrying credit cards are vulnerable to high interest charges, those who use debit cards on other purchases are also likely to pay unreasonable charges.