Editor's note: Chelsea McDermott-Lenocio is a guest blogger from our Card Services & Consumer Lending division, where she is a product manager. When she's not out enjoying time in the sun or fishing, you can catch Chelsea shopping for stealer deals on shoes and jewelry at local boutiques.
OK, so paper or plastic might not be the question on your mind when you whip out your wallet at the grocery store (or at any store for that matter), but you may find yourself pulling out your debit card (aka check card) more often than writing a check or paying with cash.
With all the great features of this simple piece of plastic, there's no wonder why the popularity with the debit card has increased since the 1980s. 
Not only does a debit card offer flexibility, but it's also a convenient way to access the money in your account. It can be used to make deposits, withdraw cash, transfer funds between your accounts and perform other transactions at the ATM (Automated Teller Machine).
When you use your debit card, all purchases or other transaction amounts are deducted from the primary deposit account that is linked to your card.
And as you probably know, there are two ways to pay for your cup of coffee or for your book purchases using your debit card: You can either choose to use your Personal Identification Number (PIN) or select "credit" and sign the receipt.
I can't even remember how long I've been using my debit card (more than 10 years for sure). But I can tell you that I find myself pressing "credit" habitually (unless the merchant only accepts PIN for payment) because I can't stop thinking about all the Green Rewards and travel arrangements — like airfare, hotel or rental car — that I'll reap once I redeem my rewards points through the optional Wells Fargo Rewards® program!
So what are the real differences between paying with cash and using a debit card, you may ask? Here's a simple breakdown to keep in mind:
| Cash | Debit Card | |
|---|---|---|
| Allows you to make purchases at many locations, including grocery stores, restaurants and gas stations | X |
X |
| Allows you to make Internet and phone purchases | X |
|
| Allows you to pay bills in person with your service providers | X |
X |
| Allows you to pay bills online or over the phone by setting up either a one-time or recurring payment with your service providers | X |
|
| Enables you to deposit money, withdraw cash and perform other ATM transactions | X |
|
| Enables you to earn vaulable rewards points on eligible purchases and bill payments when enrolled in the optional Wells Fargo Rewards program | X |
|
| Helps you to keep better track of your spending by displaying purchase amounts and other transaction amounts in your monthly statements and in Wells Fargo Online® Banking. | X |
|
| Gives you the ability to set up transaction alerts to stay informed on unusual transaction activity, such as when your purchases exceed an amount you select | X |
So, what do you find yourself using the most, cash or debit card? What features of the card do you like the best?
Stay tuned as Chelsea explores other topics on how you can manage, protect and reward your everyday debit card spending. And if you have any questions or topics you'd like her to cover, let us know!
I am a senior in college, and I need a student loan. I have bad credit, and I need additional money to pay for this year. Can you advise?
John--Have you exhausted all of your federal student loan options? Federal Stafford Loans are not based on credit, so that wouldn't be a factor in determining your eligibility. And since you're a senior, the loan limits are slightly higher ($7,500 per year if you're a dependent student and $12,500 per year if you're an independent student; in both cases, no more than $5,500 can be subsidized).
If you've maxed out your federal student loans and are considering a private student loan, you'll most likely need a cosigner. Look for a cosigner with good credit and a steady income. You'll be the primary borrower, but your cosigner agrees to be fully responsible for repaying the loan if you don't fulfill your obligations.
One last thing--is there anything we can do to help you get your credit back on track?
Our son is off to college this fall, and he's never had a credit card. Would you suggest that we help him apply for a credit card in his name and a small ($500) credit limit, or should we give him our credit card to use?
Jeff--Thanks for asking this. The answer to your question really depends on how much credit education you've done with your son and what level of responsibility you think he's ready to assume.
If you were to help your son get his own credit card for emergencies and unexpected expenses, he could build and maintain a strong credit history by keeping debt at a reasonable level and making payments on time. Is this something he's ready for?
On the other hand, allowing him to use your credit card (or adding him to your account) is more of a "training wheels" approach. Ultimately, you will be financially responsible when he uses the card.
Whatever you decide, here are some education resources to help your son manage his credit responsibly:
wellsfargo.com/credit_cards/education/student
wellsfargo.com/jump/credit/credited
handsonbanking.org
Let me know if we can answer any other questions—and good luck to both you and your son!
Chelsea - do I detect a wedding veil in your hair there?
Nice observation -- it is indeed! Feel free to let me know if you have any questions about using a Debit Card or would like to know more information about the card in general!