Seniors

50 Ways to Love Your Money - Debit Cards

  • Money in the Bank

    If credit cards mean "pay later," debit cards mean "pay now." These cards are tied to your bank account and work like you were paying with cash.

    With debit cards, you've got to have the money in the bank to cover your purchases. These cards look similar to credit cards so make sure you know what type of card your financial institution issued you.

  • #22 Stay in Check

    Always know your current bank account balance and available funds. And don't forget about checks that haven't cleared your account.

  • #23 Know Your Limits

    Your card may be declined if you exceed your limits even if you have money in the bank.

  • #24 Stop Surcharges

    Many banks charge a fee if you use another institution's ATM with your debit card, and they usually charge non-account holders to use their ATMs.

  • #25 Be Secure

    For maximum security, remember to take advantage of free alerts for your debit card.

  • #26 Keep a Secret

    Your debit card will require a Personal Identification Number (PIN) for security. Choose a unique number.

  • #27 Hit the Road, Plan Ahead

    Like credit cards, debit cards are accepted at millions of locations worldwide.

  • #28 Know When They Hold Them

    Some transactions — like hotel stays — won't be immediately cleared.