Debit vs Credit Card: Which is the Best for Family and Grocery Shopping?

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Debit vs Credit Card: Which is the Best for Family and Grocery Shopping?

The use of payment cards has increased sharply in the past couple of years, and a significant shift is noticed in individuals’ preferences. Although India is a debit card dominated market, the number of credit card users is also inching up fast. With millions of credit cards issued each month, it signifies that the credit card market is growing well.

Now, besides other necessary payments, a considerable amount is spent on purchasing monthly groceries. As nowadays individuals prefer going cashless, choosing the right payment card for grocery shopping has become essential. Nevertheless, the availability of multiple card types, both debit and credit, makes it challenging to select the right one.

So, you can take a look at the following pointers that will help you determine which payment card is best for grocery shopping.

  • Availability of funds

In the case of a debit card, every transaction made leads to money being deducted from an individual’s account. However, in the case of a credit card, the fund is available as a credit limit that you can utilize to make grocery purchases. 

Thus, irrespective of whether you purchase grocery at the beginning of the month or any time in between, credit cards come in handy. Plus, they also increase your spending capacity. With debit cards, however, this may not be the case once you have exhausted the available balance in your account.

  • Attractive reward points

Both the payment cards come up with several benefits for users. However, when debit cards are compared with credit cards, the latter can provide multiplied benefits depending on the card selected. 

Here, while new users can earn reward points as joining bonuses, regular purchases also help them accumulate points with every upcoming transaction. Individuals can further opt for various things to do with credit card reward points like redeem them for cashback, vouchers and more during the future purchase of grocery items. Users can also redeem these points to pay their monthly credit card bills with specific card issuers.

Paying with a credit card for grocery purchase at partner stores allows users to earn many other perks like gift cards, vouchers, cashback, discounts, etc. Further, online grocery shopping provides an opportunity to accumulate twice the reward points when purchased from physical stores.

The reward programs with debit cards are, however, limited and not as rewarding as some of the top credit cards in the market. It is thus one of the reasons why credit cards are better than debit cards.

  • Security

As grocery stores or market areas often stay crowded, some unfortunate incidents like theft, loss of a payment card or skimming during payment may take place. Credit cards, nevertheless, come with enhanced security features like zero-fraud liability cover to keep users protected from any loss sustained due to unauthorized transactions in such cases. A user only needs to report any such breach with the issuer.

On the contrary, during any unauthorized use, loss or theft of a debit card, the cardholder is solely responsible. It is a significant difference between credit card and debit card which individuals should consider when deciding on a suitable card for grocery purchase.

These pointers mentioned above establish that not only do credit cards provide lucrative benefits but also ensure high security and other advantages as compared to debit cards. Individuals must, however, consider their repayment capacity before availing a credit card. 

Further, cards like the RBL Bank SuperCard also come with additional features like interest-free cash withdrawal from ATMs, emergency loans, EMI conversions, etc.

Furthermore, to make the overall process of financing simple and less time-consuming, this financial institution presents pre-approved offers to its existing customers. These offers are available on products like credit cards, business loans, personal loans, etc. You can check your pre-approved offer by providing some of your contact details.

As said earlier, credit and debit cards assist individuals in going cashless, but both of these payment options have different working fundamentals. Hence, an individual must comprehend the difference between credit card and debit card before applying to choose a suitable one that not only makes his/her grocery shopping experience better but also helps with other purchasing requirements.

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