Kiplinger's Editors Debate Credit Cards vs. Debit Cards
Editors at Kiplinger's Personal Finance have taken a common household debate to the pages of their April issue: are credit cards or debit cards better tools for maintaining a budget? Senior Editor Mark Solheim takes the position that credit cards, when used wisely, can make a bigger positive impact on household finances than debit cards. Solheim presents his recent cash back rebate and rewards points redemptions as evidence that he made more money back from his cards than he spent in fees or finance charges.

Managing Editor Robert Long takes the opposing viewpoint, arguing that most Americans fail to leverage credit card points and rewards. In most households, Long suggests, debit cards clearly provide more value for money with significantly less risk to savings. Long shoots down arguments that debit cards are less secure or less convenient than debit cards by relating stories of hotel and car rental bookings processed just fine using his debit card. Both editors have opened up discussion on their debate topic at Kiplinger's website.

About the Author


Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.