Why People Are Using Their Credit Card Instead of Their Debit Card
Firstly, credit cards offer rewards/points on all purchases regardless of size. Why use your debit card which provides you with no rewards, when you can get 1-5% off using your credit card.
Secondly, online purchases are increasing and credit cards reigns supreme online. It’s still not easy to use your Interac card online. That said, some of the banks,such as CIBC, have introduced new Visa/Interac debit hybrid cards making it easier to access your checking account for online purchases through Visa debit.
Thirdly, you are not liable for any fraudulent charges made on your credit card, your credit card issuer is 100% liable. Not all banks have the same policy regarding debit fraud, but regardless, for debit fraud the money comes out of your account, and then you have to fight with the bank to get your money back. In the case of credit card fraud, you simply don’t pay the issuer for any contested charges.
Fourth, using your credit card for purchases and travel can offer you significant insurance benefits you don’t get with a debit card. For example, it can offer you price and warranty protection, and travel related insurances, at no additional cost.