Making a comparison between the merits of using a credit card versus debit card is something that can be helpful if you want to make significant savings. 

Before doing this, however, you should have a clear understanding of the difference between the two card types.

With a credit card, the credit card company extends you a loan for the amount purchased. You are obligated to pay your balance, or you are charged interest and fees.

When you own a debit card, the amount of money that you use is taken out of your bank account within days.

Comparing credit card versus debit card: 

Credit cards offer protection benefits, so if your card is lost you have no liability for fraudulent purchases. Debit cards offer no protection, so if your card is stolen; the funds are drawn directly from your bank account. As the owner of a credit card, you can expect disputes to be resolved quicker too.

Debit cards are simpler to use and understand and they can be ideal for helping you avoid accumulating debt. These cards provide the fastest methods of payment.

Credit cards offer more rewards and are easier to use overseas. They can also be better for flat transactions abroad, offering the best exchange rate on foreign currency.

Owning one can also help you build a good credit record, if used responsibly.

Online shopping is more convenient using a credit card.

Having a credit card can be ideal for making larger purchases, while owning a debit card may save you from the trouble that comes with credit card cloning.

Making the choice between credit card versus debit card is easier when you know your spending habits as well as how you’ll be using the card of your choice.