Credit or Debit?

3 Dec


“People still pull out the plastic, but often they’re not charging anything. That leaves banks scrambling to make up the revenue they’ve lost from their more-profitable credit cards.” (MSN Article)

i ran into an interesting article on MSN Money about the popularity growth in debit cards and the decline in credit cards since the stock market decline around the globe. I agree that it is much better, easier, and less stressful economizing with a debit card. But the American money system wasn’t built for you to economize. That’s why your credit score is, oh so important! I’ve been blessed enough to live abroad during this tumultuous economic time and a byproduct of that is being able to open up several accounts here in Europe. I’d urge any of you who can open up a foreign account, whether already abroad or in the States, to do so asap. The dollar is steadfastly depreciating and will soon be extinct. Too bad we’re not banks, we’d get “a bailout” plan.

Enjoy the article.


2 Responses to “Credit or Debit?”

  1. Isaiah December 5, 2008 at 7:06 pm #

    I’m not so sure it will soon to be extinct. They are just re-orging and coming back better than ever. The Foreign community still depends too much on America for them to completely fall off the map at this time.

  2. December 16, 2008 at 7:10 pm #

    thanks u for this post 🙂

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