finance
Top 4 mistakes to avoid with debit cards
Debit cards make our daily lives much more convenient. Whether we wish to withdraw money or buy our favorite products from the store, these cards make everything possible. Unlike credit cards, we also do not have to bear charges or pay high interest rates at the end of every month. But although debit cards have so many positives, we must use them wisely. There are a few common mistakes people must avoid. Not keeping a record of all transactions All debit card holders know how beneficial that piece of plastic is. It makes all shopping transactions easy by completing them with just one swipe. However, after someone swipes their card and checks their account statement, they may often realize their balance is still the same. Sometimes, a debit card transaction can take a few days to reflect in the balance. So, it is vital to keep an offline record of one’s transactions and update it regularly. If a person has a joint or shared checking account, they must also record their partner’s debit card usage and transactions. If they do not do so, they might accidentally use the card for a transaction without realizing that their account balance is low.