To Debit or Not To Debit – The New Consumer Debate

Debit cards have become the new normal. But did you know that
debit cards are your least-friendly piece of plastic in your
wallet?  The costs of using debit cards are rising.  Bank
of America now charges a $5 monthly fee for making debit-card
purchases. Chase, PNC and TD Bank charges $5 for each ATM usage.
Banks that had offered debit reward programs have begun to cancel
them.

In addition to the costs,
debit cards do not offer the same fraud and theft protections as credit
cards. If your debit card is stolen, you risk losing everything in
your bank account unless you can report it before the purchases are
made.

What are your options?

(1) You can switch banks or
move your account to credit union that does not
charge debit usage fees.   

(2) Use a credit card and
pay down the balance each month.

(3) Purchase a prepaid debit
card, but watch out because they have fees, too.

(4) There is always old
fashioned cash. There is no fine print when you pay in cash.

Review your bank statements
and credit card bills.  Review your options and see what fits
best in your situation.  To read more, click here

If you feel that your credit is at risk or you are purchasing a
car or house, pull your credit
reports
.  See our webite for
details.  Our firm can help you dispute
errors
or answer credit reporting
questions