Those who tout credit cards over debit cards claim usage of the latter is tantamount to giving away one’s money. Conversely, charge cards offer cash-back plans, airline miles, credit toward future purchases, and countless other perks. Given the myriad extras that credit cards yield, everyone should switch from debit to credit cards, right? And everyone should eat cake too!
Missed by those who disdain debit cards is that it wasn’t always this way. Back before various governmental attacks on debit-card interchange fees, the cards came with lots of benefits themselves. For instance, Citibank used to offer debit-card users frequent flyer points at American Airlines for every dollar spent.
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