A number of viewers have shared their questions on finance with us, and we are eager to provide you with some helpful advice. Better Finance expert, Maribel Aber, here to answer your questions.
Audra Lowe: We’ve love to hear from you guys out there and find out what you want to know to help make your lives better. How to spend wisely and save effectively really tops the lists of our topics. A number of viewers have share there questions on finance and money with us eager to provide you guys with some helpful advice. Today’s you money we’ve got with us Better’s Finance and Career Expert Maribel Aber is here to answer your questions. And Maribel it’s always good to see you as well. We can a lot of questions from people out there and number one for some reason is a credit and debit card to use that’s the main thing that people asks questions about. And we have a question from one of our viewers; the first one comes form Mary Mitchell. Mary Mitchell: My name is Mary Mitchell I’m from Lexington Kentucky and Charleston at South Carolina and I am wondering if it’s better to use our debit card or your credit card for big purchases? Maribel Aber: Well first thank you Mary for the question and there definitely some frozen clones for credit card use and debit card use. The first thing is that I like debit card because it’s like cash so the money that you spend you paid for it okay. Audra Lowe: Done. Maribel Aber: Exactly but Mary brings up a good point here because she talks about big purchase so the one thing that you want to do is make sure you’ve got enough money in your checking account to cover that or else you will be hit with the slow of different fees whether it’s an over limit fee or what you have use it that’s the one thing to realize but if there is any issues or problems with the transaction and you wan to focus on maybe thinking about the credit card. Because I don’t know people don’t’ know this but credit cards offer sometimes they call them a security programs like product warranties. Audra Lowe: Right, right. Maribel Aber: And I know in the case of VISA they offer double with the warranty is, so what you do is you know that card that you get and with your packages of your product warranty you actually send it in. you send that to activate the warranty and when that warranty period is over what happen is this VISA wouldn’t kick another period of time and if anything happens between that new period of time VISA will give you your money back. Audra Lowe: On that, that’s a pretty good in sending itself to use the credit card too but there are specific categories of products that are covered by this type of the warranty though we’ve been know to that? Maribel Aber: Yes, I mean generally speaking think about things work that comes with a standard product warranty. Think about categories like electronics or appliances and DVD’s, plasmas and big things like that. Audra Lowe: Okay big ticket items. Maribel Aber: Big ticket items. Audra Lowe: Okay now are there also other reasons that people to be using credit cards for there purchases say example there is another purchase that you want to make. Should you be using your credit card for that one? Maribel Aber: That’s the good question; the other thing you want to think about is that using credit cards create credit history which creates your credit score. Okay so as long as you’re being diligent your payments and you don’t have a large debt to limit ratio then I think by all means uses as an opportunity to start building good credit. Audra Lowe: Thank you so much Maribel and good to have you here. Maribel Aber: Thank you. Audra Lowe: And thank you all of you guys for you questions as well too and if you got other question from Maribel you can always email here at ask Maribel at bettertv.com.