The best debit cards in Australia

Many people choose not to use a credit card at all, and instead prefer to use debit cards. Debit cards are just as convenient as credit cards, but they are not able to accumulate debt as credit cards often have the tendency to do. Credit cards are a different system than debit cards altogether. While credit cards use the bank to borrow money from at a pre-determined interest rate, debit cards are similar to using actual money that comes straight out of the users account. Debit cards also offer users the chance to have access to their own money when travelling.

Debit cards can be obtained in a few different ways such as from a regional bank, from a credit union, or from any major Australian bank. Here at Comparison Koala, you can search through countless debit card reviews from actual users which will help you determine which debit card is best for you.

Types of debit cards

When it comes to debit cards, there are two main types available in Australia which include either Visa or Mastercard variety. Both the Visa and Mastercard variety offer the same benefits to users, they just stem from a different bank. When most people choose their preferred debit card type, they usually base their decision on the deals that they are offered through their bank of choice.

Credit vs Debit

As it goes to show, a wide variety of people prefer credit cards and also, many people prefer debit cards. The choice on whether a credit card or debit card is better really comes down to individual choice. Accumulating debt is a big reason why some people prefer debit cards over credit cards, because there is no chance for debt to occur with a debit card. Another benefit with a debit card is that there is no risk to the credit rating of the user. On the other hand, credit cards offer users the chance to purchase items even if they don’t have the actual money in their account as well as offering many rewards and other benefits.