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4 Reasons to Choose Credit Over Debit

Author: Emily Bary / Source:

Illustration: Pixabay

Young Americans have a penchant for debit cards. Among consumers aged 18-24, 47% say debit cards are their preferred form of payment, according to a survey by payment processor Total System Services. Within that age group, just 22% prefer credit cards, barely ranking above cash (18%). Credit cards gain in popularity as folks age and make more money, but 20-somethings should reconsider their payment preference earlier in life.

Credit cards offer several benefits that can’t be matched by your debit card. The key thing to remember is that credit-card use doesn’t have to equal debt.

“As long as you pay your statement balance in full each month, you can avoid credit card debt and interest completely,” says John Ganotis, the founder of

Fraud protection: Consumers get better fraud protection by using a credit card rather than a debit card. “When someone steals your debit card information and uses it to buy things, the money is usually gone from your account right away and may remain out of…

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