Real Estate Community Forum

Many consumes are dealing with the harsh economic blows of our economy. As a result there is a new trend in the market these days. Instead of using credit to pay for items, people are starting to use debit cards. Many feel that debit cards are great because it's a budgeting tool that limits spending. Are you one of these people that uses a debit card? How do the banks feel about this new trend?

I think the banks are having a difficult time approving people for credit. This is hurting our economy because everything runs on credit. You need credit to buy a car, house, student loan, rent a car, etc. Even the big corporations need credit to expand their business. If the banks are restricting their approval for credit, people will resort to using debit cards to pay for their goods.

In my opinion, debit cards are a much better solution than using credit cards. Debit cards allow people to take control of their spending and allocate their resources accordingly. Debit cards also allow people to be more responsible with their money. This is how it is suppose to be. I applaud the new trend and I hope people stick to it for years to come.

I have a credit card and I've been trying to pay it off for over 5 years. Of course, it doesn't help when your trying to pay off a card and you keep using it to buy things. That was my problem, but now I stopped using the credit card completely. I'm finally making a dent in my overall balance and I'm hoping to have it paid off in less than 5 years.

Once it's finally paid off, I will still use my card to keep my credit history active, but will never over extend myself like I did in the past. Yes, I will start using a debit card. I already have one and already I'm very careful on what I buy.