Debit vs. Credit Cards: Which Is Best for Your Holiday Shopping?

The holidays will be here before you know it – don’t wait ‘till you hear sleighbells before starting your holiday shopping strategy. Thinking through whether you should reach for a debit or credit card to pay for decorations, presents, and travel will ensure your wallet comes out on top.  

Comparing debit and credit cards for holiday shopping

Credit cards 

Credit cards are a great payment method to use for items or services you were going to buy anyway. That’s because the best credit cards allow you to earn points or cash back that can be used to pay off your balance or be redeemed for gift cards, cash back, and more! Just be sure to review your budget and confirm you can afford any charges you’re making. Doing so is crucial because paying off the balance in full each month will keep you from incurring interest charges – something you may not be able to accomplish if you swipe without thinking. 

• Tip: Don’t get caught up in the temporary perks of store credit cards this holiday season! Watch General Electric Credit Union’s (GECU) Chief Credit Officer, Neil Peterson, explain why in this quick video. 

Debit cards

While you can’t earn points on debit cards, there are several reasons to consider using one for holiday shopping. The first all comes down to your personal spending habits. If you tend to overspend or find it difficult to say no to a purchase, using a debit card may be the wise choice. That’s because you can guarantee you’re only spending money you have. 

Another reason to use your debit card for purchases is Debit Card Controls! The customized options keep you at the wheel of your hard-earned money. Turn online purchases on or off, set spend limits, and so much more quickly and on your schedule. Whether you gave your child permission to use your card and don’t want them to overspend or you never make online purchases and want to curtail fraud, Debit Card Controls are there to make it happen. 

Digital wallets 

Digital wallets are apps available on select devices, including smart phones, that allow you to connect your credit cards, debit cards, gift cards, and more to said device. Common examples include Apple Pay®, Samsung Pay™, and Google Pay™. These apps are beneficial because they require all purchases to be authenticated using fingerprint, password/PIN software, or facial recognition. As well, they encrypt your personal information and card details, so they’re never shared with merchants. 

Many retailers accept digital wallets, too! Download one today and use it for a quicker, more secure checkout experience in the coming months. 

GECU wants to keep the season of cheer going all year round! That’s why we offer perk-rich debit cards, both points and cash back credit cards options, and digital features that keep your accounts secure and accessible 24/7/365. Not a member yet? You can bank with us if you live, work, worship, or attend school in select Ohio, Indiana, or Kentucky counties. Apply today and start using your GECU debit or credit card right in time for the holiday shopping season!