Debit cards are the most commonly used payment options these days. There are different types of debit card available in the market such as cash back, rewards and prepaid debit card. You can choose any of them based on your requirements.
Cash back is a good option. When you sign up for a debit card with cash back, you will get money back. The amount that you get back is dependent on how much you spend. It will help you to save money in your account. You can use the money to pay for your bills. It is a good way to save money. If you are going to use your debit card for daily purchases, then you should look for a prepaid card.
These cards are also known as gift cards. You can buy these cards at any retail store. You can buy them online as well. When you get the card, you can start using it immediately. It is very convenient to carry this card.
The cash back debit cards are the most popular ones, but it has some drawbacks. If you are looking for a debit card which will earn you rewards and you want to make some purchases on your monthly budget, then you can use prepaid debit card. In case you want to make purchases on daily basis, then you can use rewards debit card.
So, how can you decide which debit card to use? Read below for more information.
Prepaid debit card
A prepaid debit card is a debit card which you will load some money to it. So, you don’t need to pay anything at the beginning, but if you don’t load enough money to the card then you will have to pay some amount. If you have a limited budget, then this is the best option for you.
Rewards debit card
Rewards debit card is also a debit card which will give you rewards on every transaction. It will also allow you to earn free gifts. But this type of debit card has some drawbacks. As it is a debit card, you will be required to spend money for the transactions.
Cash back debit card
If you are looking for a debit card which will earn you cash back, then this is the best option for you. You will get some amount as cash back on every transaction. It is the best option for people who want to make some extra income.
Conclusion:
So, these were the best types of debit cards. They are useful for different people. If you want to earn some extra income, then you can use the cash back debit card, if you want to save money and earn some rewards, then you can use prepaid debit card and if you want to make some purchases on a daily basis then you can use rewards debit card.
