Debit Credit

So a friend recently asked me whilst debating which of her three credit cards to charge a new designer wallet on - what's the dif between debit and credit. Ivy Princess has the answer...sorta.

This is something I myself was curious about, I mean I know that debit takes the money directly out of my checking account, whereas credit I just get a bill I have to write a check for at the end of the month. It seems like debit is just a simpler way to buy things because it's easier to keep track of spending - but I did a little more research and figured out why I should give my platinum amex a bit more attention.

My metaphor is as such: Credit cards are a lot like department stores and Debit are like boutiques.

When you buy a lot of things at a department store you get rewards, and it's easy to get a bunch of necessities there like make-up, shoes and clothes. Spend enough money, maybe you'll get a discount or free goody bag etc. When using a credit card often, you rack up points that can be used for flights and such - and my platy amex gets me into first class lounges, which is a huge plus. The problem with department stores is that when bombarded with so much stuff, I end up buying things I don't need and feel like it's ok because I'm rakin in points. The same sorta goes for Credit cards, it's so easy to just swipe and forget, or convince yourself you are getting more out of it for using the card - and that's where the scary bill at the end of the month comes in. Also, they charge you a fee for having it, so look at it as an extra tax everytime you swipe.

With debit, it's simple. You walk into a boutique, see a hot piece, know there are no bonuses for buying that amazing $500 dress by an unknown french designer other than owning it, but there is an added level of confidence in the purchase. You know that it's not at every department store and every other Japtastic isn't pairing it with a heinous pair of Tory Birch flats - it's special and yours. With debit, it's basically like paying cash and it's harder to impulse shop because as soon as you hit an ATM that $500 is gonezo.

I know this doesn't make total sense, but it seems to resonate fairly well with the few slowly nodding Fekkai haircuts I've conveyed it to. Basically, use the credit card for points and such on big purchases and the stuff you need, but for those rando lunches that wind up being $50 because one Mary turned into 4 - debit it, you'll thank me.

On a similar note, I went into Bloomys in BevCen last week to talk a friend into a hot dress for that night. Wound up talking myself into one fab Nicole Miller, but it was $400 and I had gone ape shit on gilt that week (legit - scary even for me). I have a Nordy's card, and stole my mom's Saks and Nieman's but no Bloomys. The girl told me if I signed up for one I get 20% off, and if I use it now I get another 15% - done and done. It ended up costing less than $300 - and every girl needs a full house of cards.

I am sad about the shoe sitch on gilt - some bimbo got to those amazing snake Calvin Klien booties before me, again! But I did find a beyond fab dress for my annual oscar party this weekend - so bonus!