Charlie and the Credit Factory

Free Debit Card

These days, having a debit card is almost as common as having a credit card. But don't be fooled by offers of a free debit card--it's usually standard issue.

Getting a Free Debit Card

Getting a free debit card is no trick. They're usually given to you when you open a checking account. If you've had your checking account for years and don't yet have a debit card, all you have to do is go to your bank and ask. And you don't even have to specify that you want a free debit card--they should be free anyway. Banks simply don't charge you to have a debit card. That would be like charging you for your ATM card. Since a debit card should be free anyway, don't fall for offers for a "free debit card." That's like saying chocolate milk is made from milk! It's stating the obvious but claiming it to be a feature.

You could say that your free debit card isn't entirely free if your bank charges a monthly service charge or charges fees when you use your free debit card as an ATM card, but generally, there's not a separate charge for a debt card. In fact, with so many banks vying for your business, you can usually find a bank that offers free checking and other benefits. Some banks these days even pay you for your business! Now if those banks offer a free debit card, chances are it's truly free--as long as you have a direct deposit from your payroll set up or you keep a minimum balance in your account. But those are not bad things. Keeping a minimum balance will protect you should you ever be accidentally overdrawn, and direct deposit is the best way to get your paycheck to the bank. Gone are the days of waiting in a long line every other Friday to deposit your check!

Speaking of long lines and deposits, did you know you can use your free debit card to get cash? It's also a lot faster than writing a check when you're in line at a store, it doesn't require proof of ID (so you don't have to spend time fishing your driver's license out of your wallet) and you can set it up to pay regularly occurring bills with it by phone or online!

The Visa debit card is in your future.