We have all been there. We all have suffered this. I am talking about falling behind our payments for credit cards. Credit Cards are a never-ending cycle which helps us cover shortfalls during our month end. However, there are times when your expenses are much higher than the income generated. During these times, you tend to spend more with the credit cards and falling behind our payments with mounting interests. If that is your case, then there are options for you in terms of debit cards.

Debit cards are similar in looks to the credit card. The card issuer instead of giving you a credit would debit the amount spent directly on your account.

Debit Cards can be used anywhere like credit cards. It can also be used for online purchases, book overseas ticket or travel expenses, however, it allows you only to spend what is in the account. When your balance is zero, then you won’t be able to buy anymore. While allowing you to spend only what is in the account, debit cards do not charge interest on your cards.

Even payday loans are available on debit cards rather than directly on your account. Depending on your credit scores, the company may give you a prepaid debit card loan with interest. The same card can be used to borrow money from another lender for a fee. Sometimes, these cards give you rewards on the debit card loans. Since the loan is yours, you can choose to spend it in the best way which the user deems fit. The user needs to spend the money consciously, keeping in mind it is a loan and it can affect your credit score in the future.