A few key reasons for why you should avoid using debit cards when making purchases in store or online and the major benefits that credit cards have instead.
1. 00:13 - Debit card is the gateway to your current account
2. 01:21 - Lack of fraud protection
3. 03:09 - Section 75 protection
4. 05:09 - Spending perks (e.g. cashback)
5. 05:57 - Flexibility around repayment options
6. 08:09 - Prevent release of direct debit setup information
Using your credit card gives you so much more protection, more options on how and when to repay and often provides additional perks whether it's cashback or some form of a loyalty scheme.
For virtually all regular payments, a credit card will always win against using a debit card so make sure you're using the right plastic for your purchases.
1. 00:13 - Debit card is the gateway to your current account
2. 01:21 - Lack of fraud protection
3. 03:09 - Section 75 protection
4. 05:09 - Spending perks (e.g. cashback)
5. 05:57 - Flexibility around repayment options
6. 08:09 - Prevent release of direct debit setup information
Using your credit card gives you so much more protection, more options on how and when to repay and often provides additional perks whether it's cashback or some form of a loyalty scheme.
For virtually all regular payments, a credit card will always win against using a debit card so make sure you're using the right plastic for your purchases.
Throwback to when sasha didnt know mics existed
Wow. You grew a lot!
It isn't. You get full visa and MasterCard charge back protection and I've used it. Quick and simple. Plus with say, Chase UK, you get 1% cashback on all debit card spends from a chase account. I've had money put back the same day with Lloyds. Section 75 covers part payment too. That's why you should pay a deposit on a new car on credit cards and the rest another way. Section 75 covers the whole amount of the purchase! However, many car dealers have become wise to this and will limit to a max £250 credit card deposit.
Your audio is awfull
Is It at all you could speak up slightly, Boss Man?
Sasha , is it ok to have your debit card to put your wages and pay your subscription bills , like Netflix , the gym and other subscriptions. but use your credit card for other things and then transfer your money that you owe to the credit card from your debit card?
glad you fixed the audio quality over time 🙂
Great video… very helful 👍If you are wanting to pay monthly every month through your bank on direct debit … say gym membership. Is there something you can do on a credit card that is more secure? Cheers 🙏
Now that CHASE bank is giving 1% cashback, would you like to upload version 2 of this video. 🙂 .
Would love to hear you out on CHASE vs Starling digital bank comparison as well. 🙂
Is there in practice any shop in the UK that will charge you for using your credit card with the exception of Gambling or Withdrawals? I'm only afraid that I'll be charged in a shop that doesn't really take credit cards
Your debit card is almost like “where you money resides, 🎵where the money resides, where the money resides🎵 “
Is using Google pay now more safe using debit card as it only gives a virtual number?
Great info, love your content, this is new to me. Though I agree with your points but at the same time, not all of us are good with credit cards, isn't it? Shouldn't we instead have a separate spending current account where we only transfer the fund we budgeted to use?
Thank you for this advice Sasha.
This chap's information is absolutely like finding a diamond in a pile of rocks. It's brilliant and super helpful. Thanks, pal…
What do you recommend using a debit card for then?
Great video! Would you recommend using credit cards for monthly subscriptions such as Netflix and Spotify as well?
I actually never hold more than £20-30 in my checking account apart from the brief instant before making a large payment. All of my other money are in my savings accounts, that's where my salary is also being paid. If my details do get stolen, well good luck paying for anything substantial with the pennies I have in my checking account.
2021 ?
Almost 1 year ago, the production quality went through puberty.
On what basis would you then use your Monzo/Starling cards? Just for tea/coffee or other small incidental spending?
Sorry if you covered this already, but would you still be protected for purchases made on your credit card if you've already paid off the balance on your CC?
is it OK if I use my debit card to fund my etoro account?
Tiny tea cup or you just a massive man? Lol
How can I stop using my debit cards when not a single bank is giving me a credit card !!?😕 I applied to 4 different ones the past 2 years and they all rejected me for unknown reasons!!🤷♂️
WHAT ABOUT CASH PLUS BUSINESS ACCOUNTS, I USE THAT AS A EXTRA WITH MY LLOYDS BUSINESS ACCOUNT, BECAUSE WITH CASH PLUS BUSINESS WE CAN HAVE MORE THEN ONE BUSINESS DEBIT CARD ON MY NAME,
Hi this is beneficial thanks for your time!
Hardly anyone accepts Credit cards here in the Netherlands! The Maestro Debit card is the king so no choice…
What abt credit cards from "modern" banks like Starling or monzo, do their cards give you protection?
Please also cover if there are any credit cards out there that provide instant alerts for all transactions.. The HSBC credit card I had never provides an alert just monthly statement ..
I already had this issue once.. Bought air tickets with debit card and airlines bankrupted.. Unable to claim back where as credit transactions is covered by insurance
Thanks dude I'm 22 and trying to figure out the grown-up world and this is very helpful 👍