One of the great advantages of credit cards is that they can be used to purchase items off the internet through the shopping carts of big sites such as eBay and Amazon. Because both these sites are large and have established reputations, they can be trusted with credit card details, while smaller and less well-known websites might not inspire quite as much comfort among shoppers.
These large sites also have the advantage of providing goods at a considerable discount. Through Amazon, buyers can find goods at lower prices due to the streamlined retail mechanisms that both the internet and a large brand name can deliver. eBay uses a different model, allowing individuals to sell goods through the platform and providing buyers and sellers a safe payment system as well as established and dependable shopping rules.
Both of these sites allow credit card users to save large amounts of money compared to brick-and-mortar shops. However, credit card are not the only payment system that can use these websites, as they accept debit cards, as well.
Debit cards are not like credit cards, in that they access an associated bank account directly rather than accumulate an interest-charging balance. However, they do use the same payment systems as credit cards, and so they are just as convenient and have become an important part of online transactions.
There are a number of reasons why a debit card can be preferable to a credit card. Because they access an associated account, debit cards do not charge interest, and so a shopper will not accumulate an outstanding balance, plus an interest charge, while attempting to save money buying lower-priced goods over the internet.
It’s also easier to keep track of finances with a debit card. The account holder is more likely to know his or her available balance at the end of the month, while a credit card can run up a large balance unless the shopper exercises caution, which can sometimes be a shock when the statement arrives.
Both debit cards and credit cards provide a zero liability guarantee, which means the card holder does not have to pay for unauthorised transactions. This can be a good thing when using a lesser-known website. Credit cards and debit cards can also be used with overseas sellers, going directly to a good’s source to get even lower prices.