(PRWEB) May 29, 2014 -- A new credit vs. debit card infographic (http://www.creditcardfaq.ca/credit-card-types/credit-cards-vs-debit-cards ) was released by CreditCardFAQ.ca to illustrate the notable differences between the two instruments, the financial benefits offered, and the level of protection customers enjoy. The goal is to help visitors decide which non-cash option is a better choice for their spending profile.
The new infographic was created by the web design and development team at CreditCardFAQ.ca to help visitors make a choice without overpaying for the perks and benefits offered. Basic knowledge also helps customers to avoid shady and questionable practices and inferior products with hidden fees and outrageous rates in the high 30s.
“Choosing the right credit or debit card can be a frustrating challenge. There are many factors to consider, including points, minimums, expiry dates, and billing cycles. Some issuers charge retroactive interest, can up the rate at any time, and charge hefty monthly maintenance fees. These practices drive up the bill,” said John Williams, marketing consultant at CreditCardFAQ.ca.
Some issuers charge steep fees for balance inquiries and money withdrawals. Expensive debit and credit cards can cost a fortune. Credit card companies offer cards with attractive cashback discounts, frequent flyer points, and other perks, but many are disasters waiting to happen. Issuers are mainly interested in collecting deposits and maintenance and card activation fees and selling insurance. Hefty fees often result in damaged credit and excessive debt load. Some debit card issuers also assess hefty reloading, card replacement, bill-pay, and monthly fees. When choosing a credit or debit card, there are important factors to consider, including safety, convenience, accessibility, penalties, special offers, and others. The new infographic by CreditCardFAQ.ca offers a comparison of credit and debit card features such as line of credit facilities, interest charges, overdraft fees, and limits. The goal is to enable visitors to choose a product that helps them to gain financial freedom and avoid money traps. A good debit or credit card is one that offers security, considerable savings, and perks such as guaranteed returns, companion passes, anniversary bonuses, and more.
CreditCardFAQ.ca is a website, focused on offering free information on Canadian credit cards.
John Williams, CreditCardFAQ.ca, http://www.creditcardfaq.ca/, +1 (888) 824-2553, [email protected]