Credit Card vs Debit Card

Some websites say that online credit card payments in the Philippines can get tricked by different kinds of scams, like phishing,  identity theft, and stolen credit cards. A survey done in the last three months of 2022 showed that more than half of the people who got scammed online got phished.    Phishing is a type of cybercrime that tries to trick you into giving away your personal or financial information by pretending to be someone else.   Another report said that online scams went up during the COVID-19 pandemic, and almost half of the Filipinos online got scammed in the past three months. Scam cases went up by 21 percent because of the pandemic.  These numbers show that online credit card payments get hacked a lot in the Philippines.  And this information makes me more anxious about using my credit card online.  

If you don’t want to use a credit card online, you can try GCash if the website accepts it. GCash is a good way to pay online because it’s easy and secure. You only need to put money in your GCash wallet when you want to buy something. And you have to enter a code that you get on your phone before you can finish the payment within a few minutes.

In the absence of a GCash payment option, I opt for a debit card. I prefer not to use my ATM’s debit card feature, as it is directly linked to my bank account. Instead, I acquired a separate debit card. Various debit cards are available online. I discovered GoTyme Digital Bank’s debit card. It functions similarly to GCash. I only load it up when I make an online purchase. I load it up using the linked Gotyme app. If you are a BPI account holder, you might want to inquire with your relationship manager if online transfer fees can be waived. If that account gets hacked, most likely it would have a zero balance.

Using GCash may sometimes pose challenges when using it in certain locations, such as a fast-food restaurant, due to mobile phone signal issues. Many establishments now have card terminals, and that is another use for my debit card. I would load a budget for the day and use it as needed.

Online payments are easy and safe with debit cards, because you have full control of your own money and keep your bank account hidden. Debit cards can also help you spend wisely and keep track of your money.

#debitcardtips #debitcardbenefits #lifestyleph