Credit vs. Debit Card: What Are the Major Differences?
Credit card vs debit card? That’s the question on everyone’s mind.
Corporate credit cards often offer better rewards, but they can be difficult to get in the first place. With most business payments now shifting away from cash and toward instant electronic transfers, it may be time to consider empowering your staff with a corporate card.
If you are considering this shift and are now wondering what the difference between credit cards and debit cards is, read on to learn about the credit vs debit card debate along with some of the clear benefits you can expect when using debit cards for your business.
Credit vs Debit Card
The debate of debit card vs credit card has been going on for a while. Despite there being significant pros and cons for each of these financial tools, debit cards offer far more control for your business.
From customized geographical limits to purpose-based spending, debit cards offer more security and control than corporate credit cards.
When thinking about debit vs credit cards, it is important to consider the process of applying for and receiving these corporate cards. Although the bank may offer you several different cards that can even be delivered to your door, nothing is as convenient as a virtual debit card that can be created with the tap of your finger.
Debit cards also don’t charge any interest but won’t help you build a credit profile for your business either.
3 Benefits of Using Debit Cards
Still on the fence about whether to go with a debit or credit card? To help you make your decision, here are three of the most practical benefits of using debit cards.
1. Better control over expenses
Unlike credit cards, debit cards can be limited to where your employees or staff can use them. Debit cards can also help keep your expenses in check as they won’t let you spend money that you don’t already have.
2. Can be used everywhere
While you may be wondering about the difference between credit card and debit card, you won’t feel much difference once you already have it. This is because debit cards are accepted almost everywhere that credit cards are. Debit cards are mostly branded with identifiable logos such as MasterCard or Visa and can be used almost everywhere across the globe.
3. Better expense management
If you manage to get a modern corporate debit card, it will most likely come with a variety of services such as virtual cards and an informative online dashboard to keep track of your spending. This is where services like Bento for Business stand out as they offer a complete corporate solution.
Get Unlimited Virtual Debit Cards from Bento
While many credit card companies and banks may make you jump through hoops to prove that you have the right credit score for their products, Bento offers you the tools to create unlimited amounts of virtual cards in an instant.
If you are considering getting corporate cards for your business and want to learn more about the credit vs debit card debate and the benefits of using virtual cards, visit Bento’s website at https://bentoforbusiness.com/features/virtual-debit-cards/ today.