Unsecured Visa Debit Credit Card
The other day, Suzie was using her debit card to buy a few things at Target. She asked the cashier if she could get cash back, and the cashier said, "Sure, as long as your card has the MasterCard or Visa logo." Her unsecured Visa debit credit card did have the logo, so she was able to get cash back. However, it reminded her of years past when having any kind of card with a Visa or MasterCard logo was a problem for her.
Back in the Day
A long time ago, when Suzie was much younger, she used her unsecured Visa (and a bunch of other cards) irresponsibly and found herself in credit card debt. She even had bad credit for awhile. This resulted in her getting a secured Visa to try to rebuild her credit. This helped her eventually get an unsecured Visa debit credit card. With her new unsecured Visa credit card, she knew that she should only use it in the event of an emergency or the occasional "fun" purchase. She generally used it for "fun" purchases, but she was sure to pay it off in full each month. (Although she knew she should only use it for emergencies, she also knew she had to rebuild her credit. To do that, she had to make purchases on the card. To begin teaching herself some discipline, she made sure she didn't go overboard and that she paid off her balance in full each month.) But then she heard about unsecured Visa debit cards. Knowing these are tied directly to her checking account balance, she knew she'd have to learn how to budget if she got one of these. She knew she'd need the money in her checking account to pay rent, cable, utilities, her cell phone bill, etc. before she could spend any money on anything else. This required her to really monitor what she used her unsecured Visa debit card for. It turned out that unsecured Visa debit credit cards were the best way for her to learn.
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