Definition
A card linked directly to your bank account that lets you spend money you already have, making it a great tool for everyday purchases.
What to consider
- Use it for everyday purchases without accruing debt.
- Keep track of your balance to avoid overspending.
- Take advantage of any fraud protection features available.
Real world scenarios
- Kelsey sets up her debit card for grocery deliveries, ensuring she only spends her checking balance. This prevents accidental overspending.
- Rob checks his bank app daily, reviewing debit transactions to stay within budget and catch any incorrect charges.
- Anna prefers using her debit card for small routine purchases to avoid the temptation of carrying a credit balance.
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